Originally Posted by Fdxlag2
(Post 2888286)
No. Your years of service is calculated by month. So if I were to retire next week I would have 18 years 10 months or about 37.7% times my high five. the 31 Dec thing is a good deal that expires soon from our last contract, it allowed pilots who committed a year out to get up to 50 cents on the dollar of their sick bank paid out if they jump through enough hoops.
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Originally Posted by Fdxlag2
(Post 2888286)
No. Your years of service is calculated by month. So if I were to retire next week I would have 18 years 10 months or about 37.7% times my high five. the 31 Dec thing is a good deal that expires soon from our last contract, it allowed pilots who committed a year out to get up to 50 cents on the dollar of their sick bank paid out if they jump through enough hoops.
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Originally Posted by Fdxlag2
(Post 2888286)
the 31 Dec thing is a good deal that expires soon from our last contract, it allowed pilots who committed a year out to get up to 50 cents on the dollar of their sick bank paid out if they jump through enough hoops.
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Originally Posted by pinseeker
(Post 2888327)
What is expiring with the sick buy back LAG? I don’t see an end date with that provision of the contract.
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For the defined benefit plan, Is there any inflation adjustment after retirement similar to the military pension or do you get the flat amount for the rest of your life?
For instance, if you max’ed out at $130K does that stay at $130K every year or does it go up by 1% (or whatever) based on cost of living increases? I assume it does not. Thanks! Sent from my iPhone using Tapatalk |
Don't you also get an extra @$110k if you give them one years notice?
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Originally Posted by 123456
(Post 2888434)
Don't you also get an extra @$110k if you give them one years notice?
Make $740k in your final 24 months (none from sick leave) Retire with a full sick bank Be at max WB Captain pay |
Originally Posted by Fdxlag2
(Post 2888286)
No. Your years of service is calculated by month. So if I were to retire next week I would have 18 years 10 months or about 37.7% times my high five. the 31 Dec thing is a good deal that expires soon from our last contract, it allowed pilots who committed a year out to get up to 50 cents on the dollar of their sick bank paid out if they jump through enough hoops.
Are you sure it goes by month? I thought it was calculated starting from July each year and accumulating two months worth for every full month of work. But if you don’t have that by June, then you get no credit. |
Years of service calculated using the fiscal year starting 1 Jun. You have to “work” at least 1000 hours to get a good year. As pilots they calculate it as 95 hours worked for every 2 weeks. It takes 5.5 months to get that for the fiscal year (mid Nov). They also count your vacation time not used when you retire so it can move that back as early as late Aug. However, to earn all of next years vacation you have to stay until Oct 16th. That’s why in the past many retired in late Oct or Nov. The last contract added the 2 incentives to stay until Dec 31st; some do, some don’t.
Sent from my iPhone using Tapatalk |
Originally Posted by Skytrucker01
(Post 2888404)
For the defined benefit plan, Is there any inflation adjustment after retirement similar to the military pension or do you get the flat amount for the rest of your life?
For instance, if you max’ed out at $130K does that stay at $130K every year or does it go up by 1% (or whatever) based on cost of living increases? I assume it does not. Thanks! Sent from my iPhone using Tapatalk |
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