As far as pilots are concerned, I’ve been told 2019 retirees still get their pro rated share of PS paid out in 2020.


GP

That's always the case I thought. Its spelled out in the CBA if you leave for any reason you still get it for eligible wages in that year.

I saw it on the internet so it must be true.

I thought it was always that way, too, but the post I quoted made it sound like retiring before the start of 2020 would make one ineligible for 2019 PS.


GP

That would be incorrect. If it were true you would have a run on the bank 31 Dec each year as pilots turning 65 in the first quarter of the next year left early.

While I believe it to be extremely unlikely this year, that's not necessarily the case. If you paid out Jan-Jun profit in October and then had some sort of event (like a fleet grounded and the economy tanking) which caused you to lose money overall for Jul-Dec, then you really weren't due all of that profit sharing you got for the first half of the year. Our profit sharing plan in our contract is based on an entire calendar year for the program. Plus it would have to be a WAG of some sort, like it was last time, because they can not know for certain what percentage of the entire payroll you will represent for the year. You could go big at the end or fly much less. Either affects how much you would be due.

I disagree. It's just like taxes. If you underpay or overpay via withholding, the final bill isn't affected. Delta could (should, in my opinion) cut us a best-guess check in the fall (perhaps 40% of their estimated final payout), then settle up with the rest due in February. Easy peasy.

To include withholding money from your regular paycheck for the final reconciliation? If the second half is a loss, that would reduce the amount you were due for the year and they would have overpaid you by giving you all of the first half. The wailing and gnashing of teeth in that scenario would be loud.

That's why I suggested something less than half. Hedge against a loss. There's some percentage that is 95% likely not to require any clawbacks. Maybe it's 30%? Anyway, I'd rather have the money earlier even with a risk of being overpaid.

IT'S MY MONEY AND I WANT IT NOW! Isn't that how the commercial goes?

A low percentage might work. I guess I’m on the pessimistic side with this because I’ve seen great times turn to **** before and it ain’t pretty. A clawback would make it even uglier.

At the end of the day, as long as I get what I am contractually due, I don’t care if some of it comes early or not.