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Originally Posted by dtfl
(Post 710776)
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Unless I smoked some crack I dont know about --If there are AEs you wont get bumped. You might have folks move in that are senior but you won't get bumped to another base unless there are Displacements. Now...we might all stay where we are or move DOWN in seniority in a category but we shouldnt get moved out from our DALS bases. I fully expect and onslaught of DALN folks into ATL due to the 500+ that live within 150 miles. For that to push 500 people out there have to be Displacements...for it to totally ruin QOL for junior guys there it will take MANY AEs. The "suck" might be coming...but you should see the light on the oncoming train. |
Originally Posted by tsquare
(Post 710430)
I had planned on being able to retire at 55 when we had the DB plan. Since I did not trust DAL to manage my money when times were good, I set up my own supplemental retirement plans. I have no kids.. the same wife I started with and no toys (although I would really really like to have a big sailboat.. and if anybody is interested in a partnership.. send me a PM ) so being able to go when I want is still somewhat doable. Under the current situation, (of course this all depends on what happens post SOC) I'd like to fly this seat for a few years, then maybe downbid to something where I am really senior. Maybe I'll throw gear for you at some point.
OK.. again, how do you protect it thru a third party? Sorry to sound like a conspiracy theorist, but I don't trust anybody to run my money.. ESPECIALLY if they are not of my choosing. Been there... got the shirt. At any rate, I do not plan on hanging around here full time till 65. I'll probably go fly a trip or two when the wife is sick of seeing me around the house. (Unless I get that sailboat) And to address one of your other points. I don't see pilots retiring early with a DB plan. Actually I think the opposite would occur. (Let's see how many of the over 60 NWA captains really go early...) Not flaming here... And I don't see sick calls dramatically reducing, because we will still be older in the more senior positions. Actually.. I don't think any of your three points are correct. JMHO. again.. not flaming.. I just don't agree with your premise. And your last statement.. I do agree. But I think the only realistic way to get us out the door early is to make it financially punative to stay longer. We are all *****s, and as long as we can make more money by staying longer, we will (I am speaking of the group) Make the pay drop by 10% for anybody over the age of 60, and they'll be gone tomorrow. (good luck with that one:D) Let me see if I can catch you before you go to your game... If you think you will ever pull gear for me, you must anticipate some kind of seniority list re-rack. I'm barely approaching 50% of the list and you are an er captain. I'm not even in your ballpark. Even if you downbid, you would have to go pretty far to get to me. I understand that you don't trust anyone to manage your money. I have other retirement plans, too. So, I am not really worried about having enough money to retire on. I am worried about knowing when to stop. I'm bugging check and slow because they seem to be the experts, but I think a 3rd party handling the plan would be much safer because the plan wouldn't necessarily be tied to their shaky airline business. One think I have learned is that you can contract around anything (unless it's illegal). :) I disagree about the DB plan and what it does for pilots retiring early. I don't know the exact terms, but I know I've heard guys talk about their streams crossing like light sabers in Star Wars, to indicate to them when they were working for free. When that occurs, its time for them to retire. One of our -400 FO's should be able to explain it well. I think the guys around here who sitll have a sizeable DB coming, can leave anytime they want to, and are one missed commute, call into the chief pilots office, or long de-icing event in DTW, away from turning their paperwork. You know it's coming when you hear them say, "I don't have to put up with this (crap)." We agree on the last point. As long as it's financially better for us to stay longer, we will stay longer. I don't blame a guy for staying past 65 if all he's working with is a DC plan. I'm only trying to think of a legal way to push us out the door so we don't want to stay. Have fun at the game. GO Gators!!! :D New K Now |
Market booms never last
Originally Posted by Pineapple Guy
(Post 710694)
Our DB termination had ZERO to do with who was managing it. In fact, it was beating all industry averages (S&P 500, DOW) over the last 3, 5, and 10 year periods before it terminated.
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Originally Posted by tomgoodman
(Post 710811)
And ironically, that was the fund's undoing. Had the money been invested in safe, low-yielding instruments (like government securities and AAA bonds), the company would have been forced to contribute more cash over the years in order to maintain full funding. The pension fund could have survived the market decline. But by choosing high-yield instruments, there was no need to add money during the "good years", and even if they wanted to do so, IRS limits on overfunding would have blocked them. So they spent this money on other things, and had none left when it was needed to replace the market losses. :(
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Originally Posted by newKnow
(Post 710708)
But, if DAL had not gone into BK and continued paying into the DB, would it have been saved?
And just to set the record straight, DAL ALPA didn't negotiate away their pension anymore than NWA ALPA negotiated to save theirs. Pensions fail (or not) based on the pension funding and the company's ability/willingness to make required contributions. DAL's CEO Grinstein said if UAL dumped their pension in BK, we would too, and that was twelve months before we even went into BK. |
Yep, it sounds like the narrow body guys will get creamed once again.
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Originally Posted by acl65pilot
(Post 710859)
Yep, it sounds like the narrow body guys will get creamed once again.
??????????? Nu |
Originally Posted by NuGuy
(Post 710862)
???????????
Nu |
Originally Posted by acl65pilot
(Post 710863)
More block hrs are coming your way for next year. :eek:
You make that sound like a bad thing....depending where they're peeling it off. I went from blockholder with 40 below me (getting lines just the way I like them) to 4 below me, and blockholder without a block in six months. With BP5, I'll be on reserve. At least with B w/o B I could sit at time available at home, versus in-base, but now I'm facing commuting to reserve. Yuk. If they add some flying back to the NB, I wouldn't mind. Nu |
Originally Posted by dtfl
(Post 710776)
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I fully expect and onslaught of DALN folks into ATL due to the 500+ that live within 150 miles. For that to push 500 people out there have to be Displacements...for it to totally ruin QOL for junior guys there it will take MANY AEs. |
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