FDX: Leaving purple for a legacy?
05-27-2014, 01:27 AM
#291
Gets Weekends Off
Joined APC: Jun 2007
Position: MD-11 F/O
Posts: 146
I don't see ANY notice required in the current contract.
I've heard the urban legend from multiple sources of the Capt that asked to have the sim come down. Thinking he needed an early bathroom break the instructor brought the sim motion down. The Capt informed them he was done. He had just retired, and walked away. I don't know if it's true, but it makes for a good story.
If I were a bean counter or manager I'd make sure every seat could handle a water shed exodus event. I certainly not want to be offering AVA and buying back vacation in a seat when a large number of pilots retire en masse. (I'd be running my 777 Capt to seat ratio a lot higher, but I don't make those calls.)
I've heard the urban legend from multiple sources of the Capt that asked to have the sim come down. Thinking he needed an early bathroom break the instructor brought the sim motion down. The Capt informed them he was done. He had just retired, and walked away. I don't know if it's true, but it makes for a good story.
If I were a bean counter or manager I'd make sure every seat could handle a water shed exodus event. I certainly not want to be offering AVA and buying back vacation in a seat when a large number of pilots retire en masse. (I'd be running my 777 Capt to seat ratio a lot higher, but I don't make those calls.)
05-27-2014, 04:21 AM
#292
Gets Weekends Off
Joined APC: Jul 2007
Position: Gear Monkey
Posts: 3,193
Originally Posted by Full pull
...You only need to give them 1 day notice.
It's all about control....forecasting...and minimizing the size of the pilot group (cost center)
I'm not sure it's as critical as many believe though
Most guys are retiring at 64 yrs and 9 months --- and that's just because of the Dec spike in Vac Buy Back --- without that accounting rule many would stay until the very last day
Perhaps, that's what they will change to incentivize them ---- without hurting those who wish to retire before 65
05-27-2014, 04:44 AM
#293
Gets Weekends Off
Joined APC: May 2009
Posts: 556
Originally Posted by DLax85
And one can have a medical reason to not fly that day too
It's all about control....forecasting...and minimizing the size of the pilot group (cost center)
I'm not sure it's as critical as many believe though
Most guys are retiring at 64 yrs and 9 months --- and that's just because of the Dec spike in Vac Buy Back --- without that accounting rule many would stay until the very last day
Perhaps, that's what they will change to incentivize them ---- without hurting those who wish to retire before 65
It's all about control....forecasting...and minimizing the size of the pilot group (cost center)
I'm not sure it's as critical as many believe though
Most guys are retiring at 64 yrs and 9 months --- and that's just because of the Dec spike in Vac Buy Back --- without that accounting rule many would stay until the very last day
Perhaps, that's what they will change to incentivize them ---- without hurting those who wish to retire before 65
Maybe that is what you meant? The only problem with minimal notice is that your pension check will not show up right away as that process takes a little time and most guys start the paperwork further out so that the checks/deposits arrive soon after retirement.
The Company does get some advance look at potential retirements by the number that have requested retirement "packets", other that the only thing they know is pilots habits and they sure do not appear to be concerned that too many will depart "early" or with little notice.
05-28-2014, 07:33 AM
#295
Gets Weekends Off
Joined APC: Feb 2011
Position: Right for a long time
Posts: 298
I think it would send a message if those eligible 700 requested "retirement packages" right now! Let the company decide/gamble if they (the 700) are actually going to retire or just getting early info.
05-28-2014, 07:38 AM
#296
Gets Weekends Off
Joined APC: Nov 2006
Position: 767 FO
Posts: 8,047
Originally Posted by Roundup
Just a thought, but that no-bid welfare postal contract that "Fred" bought from Bush might go away some day.
05-28-2014, 07:49 AM
#297
Gets Weekends Off
Joined APC: Jul 2007
Position: Gear Monkey
Posts: 3,193
Originally Posted by 4A2B
...The Vacation Buying rule is not based on age 65, rather it is based on accrual for the following calendar year. If a pilot works until about Oct 15th they have accrued all of the hours for the next year so if they retire prior to Dec 31 they get all of the buy back for the current year and subsequent year and neither is subjected to the 40% limit.
Maybe that is what you meant? The only problem with minimal notice is that your pension check will not show up right away as that process takes a little time and most guys start the paperwork further out so that the checks/deposits arrive soon after retirement.
The Company does get some advance look at potential retirements by the number that have requested retirement "packets", other that the only thing they know is pilots habits and they sure do not appear to be concerned that too many will depart "early" or with little notice.
Maybe that is what you meant? The only problem with minimal notice is that your pension check will not show up right away as that process takes a little time and most guys start the paperwork further out so that the checks/deposits arrive soon after retirement.
The Company does get some advance look at potential retirements by the number that have requested retirement "packets", other that the only thing they know is pilots habits and they sure do not appear to be concerned that too many will depart "early" or with little notice.
If a pilot has not maxed out their high 5, they are typically hoping to spike their final year of pay by bidding around the current years vacation and then getting all of next years vacation bought back too
Thus, if a pilots 65th birthday is in the first few months of the calendar year, they often choose to retire Dec 31 the year prior
05-28-2014, 09:50 AM
#298
Gets Weekends Off
Joined APC: Dec 2013
Position: FedEx A-300 Captain
Posts: 125
Originally Posted by 4A2B
The Vacation Buying rule is not based on age 65, rather it is based on accrual for the following calendar year. If a pilot works until about Oct 15th they have accrued all of the hours for the next year so if they retire prior to Dec 31 they get all of the buy back for the current year and subsequent year and neither is subjected to the 40% limit.
05-28-2014, 11:43 AM
#300
...Whatever It Is!
Joined APC: Jul 2006
Posts: 4,680
Originally Posted by KnightFlyer
Just went to it. If you don't use any vac your last year and earn all of next year's, it ups your FAE about $22400 for WB Capt. Paid as 2 checks. To earn all of next year's vac you must work thru Oct 16th.
2 x 36 days = 72 days
72 days x 6CHs = 432 CHs
432CHs x $260.61 = $112,583.52 bump in final paychecks
$112,583.52 ÷ 5 yrs = $22,516.70 bump in FAE
Pretty huge incentive. Also, a great argument to those flying extra claiming they need to "work on their high 5".
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