FDX 727's and retiree's going to FE seat?
01-12-2013, 03:36 AM
#14
Gets Weekends Off
Joined APC: Jan 2006
Posts: 2,838
Originally Posted by av8rdude
There are any number of reasons a person may elect to continue flying to age 65. But I cannot understand why someone would go from a widebody captain seat to an FE seat just in order not to retire. They're essentially working a full schedule for less than what they would draw as a retiree. The only advantages I can see is "something to do," the continued ability to jumpseat, and health insurance at active employee rates. Doesn't seem like a very good deal to me. Go figure...
It is quite possible that the Former WB captain had only 15-20 longevity (30-40% FAE in A Fund) when they turned 65. For every year in the S/O seat gives another 2% in the A fund and another 14,000 in a B fund.
That can equate to another 600-1200 a month extra for every year the pilot continues to work until he hits the 25 year A fund Cap.
Throw in 401K contributions ,plus as you stated full Medical and Jump-seat privileges and the Financial reasons to stay can add up.
If the Pilot already had his 5 years as a "Senior" WB Captain and hit the $260K 5 year FAE and the Pilot has 25 plus years Longevity, then I agree with your assessment.
If the Company offered a Retirement incentive, like retiree Medical, FAE buy up credit ,I think you would see more Pilots retire.
01-12-2013, 06:41 AM
#15
Gets Weekends Off
Joined APC: Nov 2005
Position: 757 Capt
Posts: 2,418
Originally Posted by RedeyeAV8r
For every year in the S/O seat gives another 2% in the A fund and another 14,000 in a B fund.
That can equate to another 600-1200 a month extra for every year the pilot continues to work until he hits the 25 year A fund Cap.
That can equate to another 600-1200 a month extra for every year the pilot continues to work until he hits the 25 year A fund Cap.
That's over 1400 hours of pay for the year.
In addition to the other valid reasons, seems like some folks identity is wrapped up in being a FedEx pilot and can't imagine anything else. Personally there are many other things I envision for my post 60 years, so it's hard for me to figure out why someone wants to do night hub turns at 65+....even figuring out how little they actually work it with vacation and sick leave.
01-12-2013, 06:44 AM
#16
Gets Weekends Off
Joined APC: Aug 2005
Position: Retired
Posts: 980
Originally Posted by RedeyeAV8r
Many are not working for less than they would make in Retirement.
It is quite possible that the Former WB captain had only 15-20 longevity (30-40% FAE in A Fund) when they turned 65. For every year in the S/O seat gives another 2% in the A fund and another 14,000 in a B fund.
That can equate to another 600-1200 a month extra for every year the pilot continues to work until he hits the 25 year A fund Cap.
Throw in 401K contributions ,plus as you stated full Medical and Jump-seat privileges and the Financial reasons to stay can add up.
If the Pilot already had his 5 years as a "Senior" WB Captain and hit the $260K 5 year FAE and the Pilot has 25 plus years Longevity, then I agree with your assessment.
If the Company offered a Retirement incentive, like retiree Medical, FAE buy up credit ,I think you would see more Pilots retire.
It is quite possible that the Former WB captain had only 15-20 longevity (30-40% FAE in A Fund) when they turned 65. For every year in the S/O seat gives another 2% in the A fund and another 14,000 in a B fund.
That can equate to another 600-1200 a month extra for every year the pilot continues to work until he hits the 25 year A fund Cap.
Throw in 401K contributions ,plus as you stated full Medical and Jump-seat privileges and the Financial reasons to stay can add up.
If the Pilot already had his 5 years as a "Senior" WB Captain and hit the $260K 5 year FAE and the Pilot has 25 plus years Longevity, then I agree with your assessment.
If the Company offered a Retirement incentive, like retiree Medical, FAE buy up credit ,I think you would see more Pilots retire.
01-12-2013, 01:51 PM
#17
...Whatever It Is!
Joined APC: Jul 2006
Posts: 4,680
Originally Posted by FoxHunter
If they are over 70.5 they receive their Social Security and also start receiving their FedEx pension in addition to their 727 S/O pay.
Originally Posted by kronan
Personally there are many other things I envision for my post 60 years, so it's hard for me to figure out why someone wants to do night hub turns at 65+....
01-12-2013, 02:09 PM
#18
Slainge Var'
Joined APC: Oct 2006
Position: Zeppelin Tail Gunner
Posts: 1,530
The current 727 training letter shows an MD-11 Capt (mid 3 digit employee number) starting S/O training on 4 Feb. Why? Who knows...ex-wife payment deferral, needs health care for a dependent, wants to hang around with the bro's, wife wants him out of the house, has a management job lined up so he'll never fly anyway, thinks the age rule will go to 70, and yes...Campinas....we've all heard a myriad of reasons, some make sense and some...not so much. It's just a personal decision....nothing more. Because of the precedence, I don't see how the company could ever say no to a pilot who wants to go to the back, even if there is only a handful of 727s around and the S/O seat is overmanned at 300%. Bid reserve and never get used, just like the dying days of the DC-10........works for some I guess.
01-12-2013, 02:58 PM
#19
Gets Weekends Off
Joined APC: Jul 2006
Position: 11 Capt
Posts: 509
Originally Posted by AerisArmis
The current 727 training letter shows an MD-11 Capt (mid 3 digit employee number) starting S/O training on 4 Feb. Why? Who knows...ex-wife payment deferral, needs health care for a dependent, wants to hang around with the bro's, wife wants him out of the house, has a management job lined up so he'll never fly anyway, thinks the age rule will go to 70, and yes...Campinas....we've all heard a myriad of reasons, some make sense and some...not so much. It's just a personal decision....nothing more. Because of the precedence, I don't see how the company could ever say no to a pilot who wants to go to the back, even if there is only a handful of 727s around and the S/O seat is overmanned at 300%. Bid reserve and never get used, just like the dying days of the DC-10........works for some I guess.
01-12-2013, 07:58 PM
#20
...Whatever It Is!
Joined APC: Jul 2006
Posts: 4,680
Originally Posted by AerisArmis
The current 727 training letter shows an MD-11 Capt (mid 3 digit employee number) starting S/O training on 4 Feb.
BTW - still 38 people on the DC-10 seniority list!
