Airline Pilot Central Forums - End the Pension Now, replace it with…

Quote:

Originally Posted by JustInFacts (Post 3856592)

You two statements above are not the same. One says that is what you get, the other from the contract says that is how FAE's are determined if you go out in the first 365 days. There is a big difference. They get 50% of FAE.

There is a difference in what has been stated is the minimum and what a true minimum is. If it were a true minimum, or floor, it would apply to everyone on the MSL. As stated in the contract and the negotiators notepad, the above only applies if the pilot goes out during the first 365 days. If the pilot went out on day 368, then that formula/exception would not apply. So, if that pilot had only worked 900 hours at first year pay for there 12 month FAE, they would get 50% of that amount, which would be lower. At least that is how it is written in the contract.

I see what you mean now. So in essence, its only a different way of calculating the benefit, the FAE to be more accurate, for those within the first 365 days of employment. So before they got this new calculation, that first year pilot would only get 50% of whatever they may have made when going on disability. Whereas now, they get to pretend they made 1,000 time their pay rate when calculating their FAE.

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Originally Posted by BoilerUP (Post 3856414)

Disability benefits.

https://i.imgur.com/HJDxmYw.jpg

https://i.imgur.com/6E7DkpR.jpg
Basically we burn sick time for 6 months as part of STD, then go on company-provided Loss of Licence from months 7-24, then month 25+ are on LTD.

I currently pay $175/check for the IPA Mutual Aid Program that covers the balance between STD/LOL benefit and full guarantee at my longevity. I also pay $248/check for voluntary LTD coverage that IPA offers through The Standard that provides $20k/mo tax free through age 65 (though there is a pension offset starting at 60). I also have an external $157/mo policy through Peterson that provides $4k+/mo supplemental loss of license income above and beyond all the above programs.

If I understand, your company provided LTD benefit has a 6 month waiting period which can be covered by your sick time and STD. Then go on their LoL until month 24, then on their LTD until age 65? How is the benefit amount calculated? Is there a cap on the benefit amount? Are there any offsets? What percentage of premiums of the company provided benfit do you pay? Do you get any pension credit or contributions while on LTD?

Quote:

Originally Posted by Viper25 (Post 3856430)

A little outdated for the pax side. Delta's recent contract eliminated the 30-month/54-month lifetime max restriction on eligibility for psychiatric disabilities. Psychiatric disabilities now treated the same as physical disability. Also the aforementioned new disability floor isn't in the graphic. Can't speak to the other airlines. I do understand this post was mainly for the UPS stuff. Just wanted to clarify in case eyes wandered to the other companies.

This is a good point as well. APA is lifetime for mental illness and 60 months for substance abuse. And they have an imputed income option on their LTD benefit as well.