Obviously, that's where the risk comes in.

 

And the salt in the wound is Miss St QB and running back are from Louisiana and Les passed on them. Tigers should stick with the freshman QB for the remainder of the season. What an arm!

 

You're right, it wasn't me, but C2K did have a lot of concessions in it. I nearly voted NO too. It only passed by about the same margin as C12K, right? 68/32 ish?

And if your boy was a domestic 757 Capt. back then, as I was, he's making LESS today as a 777 Capt, than he was as a 757 Capt. in 2004!

Oh, but at least he lost over $1.5 Million in his DB plan too...so there's that. No amount of Profit Sharing and DC plan is going to replace our lost DB plan money, unless you have 20 years to go. Even if you're getting $45K/yr. today into your DC plan, if you are 55 today, you'll only have about $450,000 to retire on in 10 years when you turn 65, unless you know some REALLY good investment guys, like say... Bernie Madoff.

And if the market tanks again, like it did in 2008, you'll have a whole lot less than $450K to live on the rest of your life.

"You want fries with that?"

See the future Danny.

 

Sadly, there are a whole lot of DAL guys living on less than police retirement. If you guys don't go for it now, it will be on you.......Believe me there is life after Delta.

 

You know, back when we had a 60% FAE DB Plan, you could roughly figure what you'd be making in retirement. You could project what you'd be flying, do the math on what your FAE would be, then 60% of that...forever.

Nobody is doing the math on what a new hire today can expect in retirement, at least, I've never seen any projections in writing, as to what a 14% DC plan should net you after say, 30-35 years, never mind 10.

The whole reason the airline pilots went to a DB plan in the fist place was to get your retirement dollars away from the volatility and uncertainty of the stock market, but that was back in the 1930's, when the market crash of 1929 was still fresh in pilot's minds.

Pilots today can't even remember what happened to the market in 2008...

 

That is why bigger pays more is retarded.

And I remember exactly what happened in 2008. It was folly to believe that a DB plan removed retirement dollars from uncertainty of the market, bankruptcy proves that beyond any shadow of a doubt. And the two are very clearly interrelated. The Western guys were right. Retirement in our own name was essential, and we didn't listen.

I have done a little cocktail napkin math on a newbies retirement, although it is very very rough, and with the expected movement they are gonna see Timbo, you and I are gonna be pool boys for them.

 

I don't know what the future portends. But, I'm in a much better spot regarding retirement today than I would have been with the DB plan.

I always saved like I wouldn't have a retirement. We all had Eastern, Braniff, Pan Am and TWA as examples.

I learned how to invest. I made it a priority. It has held me in good stead.

I am constantly amazed when I fly with FO's who have no idea or interest in their future than a mutual fund. I constantly get, I don't have time, it's too complicated or that doesn't interest me.

I, for one, am really glad that I am decoupled from the company that writes my paycheck.

It does still **** me off that I am not making what I was making as a MD-11 FO and that I have been pushed off the 767 back onto the 737 for the last five years. But, I do have a job and I'm not living in the sandpit.

I want better than restoration. That's my goal.

 

You guys just leave my wife alone!! And for the love of all things holy, no (I love DAL) speedo's when cleaning our pool!

 

If you leave me some good beer, I promise not to wear my Mankini!

https://www.google.com/search?site=&...2F%3B280%3B390

 

Pay banding is retarded. Equals less required pilots. Equals further stagnation. Let's please stop facilitating work rules (ie added productivity that reduces required pilots) that prolong a decade plus of stagnation.

The new hires may do well but 30 to 40 years is a long time with a lot of unknowns (ie one pilot flight decks that cut required domestic pilots in half).