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CanWeGetTheLeft 09-16-2019 12:36 PM


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.

Thanks for that clarification, really appreciate it.

pinseeker 09-16-2019 01:17 PM


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.

What is expiring with the sick buy back LAG? I don’t see an end date with that provision of the contract.

KnightFlyer 09-16-2019 02:20 PM


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.

Not true. All pilots are eligible for the sick bank pay out. Only pilots 54+ @ DOS get the $10k-$40k bonus. All subject to the contract rules.

Fdxlag2 09-16-2019 02:23 PM


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.

Correct I was thinking of the lump sum bonus part of the plan.

Skytrucker01 09-16-2019 04:17 PM

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!


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123456 09-16-2019 05:07 PM

Don't you also get an extra @$110k if you give them one years notice?

Adlerdriver 09-16-2019 05:32 PM


Originally Posted by 123456 (Post 2888434)
Don't you also get an extra @$110k if you give them one years notice?

There’s way more to it than that to get the full $110k. In addition to the notice, you must:
Make $740k in your final 24 months (none from sick leave)
Retire with a full sick bank
Be at max WB Captain pay

FXLAX 09-16-2019 11:34 PM


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.

KnightFlyer 09-17-2019 04:31 AM

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.


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FoxHunter 09-17-2019 03:32 PM


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

No there is no COL adjustment. The $130,000 max pension only works if you are not married. If you want survivor benefits there is a penalty. When I retired I recall there was a $1300 a month penalty to take the 50% survivor benefit in my case. I had 24 years and my wife was six years younger. The younger the spouse the larger the penalty. Unless the spouse signs away the benefit the 50% option is the only one allowed by law. If the spouse signs away the benefit it can be covered by life insurance. The way I looked at it was the life insurance had to be bought with after tax dollars.


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