How'd that DB work out for you?

I know that when my DB terminated, the money ran out and it was done. I've still got my MPPP and Note money, plus almost all the DC money except the worthless ESOP stock. I've also got another promise to pay from the PBGC.

No more DB for me. No thanks.

 

There are too many errors in the last few posts to address. I'm tired and I gotta bid. OFG

 

I agreed above, I want the NET WORTH of the DB plan in my bank account, but 15% a year isn't going to come close to replacing what we lost. That's why we have a DC plan.

 

You know bro, I have said this before and I will say this again. You, Carl, Jerry and others need to represent us at DALPA.

I almost always agree with you gents.

Just the other day, I too, was doing math. My conclusion, there is no way that I will earn enough money in the Bfund to net me 60% FAE upon retirement.

We have some great salespeople.

TEN

My only hope is that pilots like you, RUN FOR OFFICE and implement some changes.

 

For me, between the MPPP, DC monies and PBGC I've got more than what the frozen DB was going to pay if I retired at 60. As you pointed out I run the risk of running out of money if I live a long time, so I don't plan on doing that.

You're sounding more and more like those old NE guys.

 

I don't believe that Delta south MPPP plus DC plus PBGC can come close to what the old DB was going to pay unless you are one of those multi tier guys. And then only maybe close. I think those pilots are all retired or real close.

If you are calling Timbo a liar, I'm calling you out to prove your statement.

 

Dude, chill. Liar? Hope you're not this emotional when you fly.

I took a pretty good bath in the market from 2007-2008, but then hit some big ones coming out. My frozen pension was less than $7K per month at age 60. PBGC is supposed to pay $3100 per month. I got a little over $220K in MPPP and Notes. That's worth over $700K today, and I still have 4 years to 60. You can do the math. The rest of the DC money has done pretty well too, but I don't count that as it is my current retirement.

I'm talking about the frozen pension and what we got for that, capsice? Thanks for the callout.

 

You also run the risk of losing a lot of your DC money if the market tanks again, like it did in 2008. The DB was a 'sure thing' for about 50 years. That's why ALPA negotiated DB's in the first place, many years ago.

Have you read Flying the Line, Vol. 1? If not, you can borrow mine. Anyway, American Airlines' Pilots were in the original group of pilots to start the Union we know as ALPA. Many years later, they left ALPA. One of the key reasons they left ALPA was a disagreement over their retirement plans. They wanted the money put into Their Names.

Now, 60+ years later, we see they were right. American just went bankrupt too, but guess what? Their pilots were able to keep their retirement plans, even though their management said they HAD TO give them up for American to survive.

My friends who have been at American as long as I have been at Delta, have nearly $3 Million in their retirement plans. I've got about $450K. Yeah.

 

Congratulations ace. That was too stupid to even bother responding to.

Carl

 

So...you turned $220K into $700K? In 10 years?

You're in the wrong business.

Got any stock tips for the rest of us?