Death of the DB retirement (A plan)
09-08-2015, 04:34 PM
#91
Gets Weekends Off
Joined APC: Jul 2014
Posts: 296
[QUOTE=MaxKts;1966993]It is the lesser of 3 categories!
1. 1/2 of Your last 2 years of compensation over $520K
2. 1/2 Your DSA hours times your payrate
I'm probably missing something but a full sick bank, 686 times the new pay rate of $286 for a WB Captain is, $196,196. And the company will only pay you $110K max, right?
1. 1/2 of Your last 2 years of compensation over $520K
2. 1/2 Your DSA hours times your payrate
I'm probably missing something but a full sick bank, 686 times the new pay rate of $286 for a WB Captain is, $196,196. And the company will only pay you $110K max, right?
09-08-2015, 04:36 PM
#92
Gets Weekends Off
Joined APC: Sep 2006
Position: B-777 Captain
Posts: 943
My understanding for a WB captain retiring Dec 17, 2019 age 65 with a full DSA.
$110,000. The lesser of.
$40,000 bonus for a 1 year advanced notice.
$70,368 Vacation buyback @ $325.78. Assuming you use none in your last year.
$70,368 buyback of your next years earned vacation even though your gone as a pilot.
$23,456. Buyback of sick your normal sick leave. Not sure on that one.
Total payout assuming you hit all the parameters **** $314,192
While a nice chunk of change I agree anything over 300 hours of DSA is a waste. Still voting No for all the other things so very wrong with this TA. Please correct my math or understanding of this section of the TA.
$110,000. The lesser of.
$40,000 bonus for a 1 year advanced notice.
$70,368 Vacation buyback @ $325.78. Assuming you use none in your last year.
$70,368 buyback of your next years earned vacation even though your gone as a pilot.
$23,456. Buyback of sick your normal sick leave. Not sure on that one.
Total payout assuming you hit all the parameters **** $314,192
While a nice chunk of change I agree anything over 300 hours of DSA is a waste. Still voting No for all the other things so very wrong with this TA. Please correct my math or understanding of this section of the TA.
Last edited by JetJocF14; 09-08-2015 at 04:59 PM.
09-08-2015, 04:45 PM
#93
Gets Weekends Off
Joined APC: Aug 2012
Posts: 711
Originally Posted by MaxKts
It is the lesser of 3 categories!
1. 1/2 of Your last 2 years of compensation over $520K
2. 1/2 Your DSA hours times your payrate
3. $110K
To reach the $110K limit you will need to be making $320.70 an hour with a full DSA
No matter how you work it you will be giving up at least 50% of your DSA when you retire.
The good:
You get something when you retire if you have DSA hours left over.
The bad:
You must work the entire year (retire on Dec 31st) if you retire before turning 65.
There are big $$$ amounts that most won't ever qualify for (looks good on paper).
Without a full sick bank and you will never come close to the limit!
1. 1/2 of Your last 2 years of compensation over $520K
2. 1/2 Your DSA hours times your payrate
3. $110K
To reach the $110K limit you will need to be making $320.70 an hour with a full DSA
No matter how you work it you will be giving up at least 50% of your DSA when you retire.
The good:
You get something when you retire if you have DSA hours left over.
The bad:
You must work the entire year (retire on Dec 31st) if you retire before turning 65.
There are big $$$ amounts that most won't ever qualify for (looks good on paper).
Without a full sick bank and you will never come close to the limit!
The kicker to that $740,000 for two years compensation is that none of that compensation can come from using RSA or DSA! Thus, not only do you have to have a full DSA, but you either can't call in sick or if you do, you have to work extra to make up that hole.
This is a really bad precedent to set: don't use vacation, don't use any sick your last two years, work extra, and fill your DSA and don't use it over the last several years when you might need it most.
I've seen plenty of senior guys who in their last few years are getting surgery on knees, backs, lasik, etc. Do it while on FedEx medical. Now the company wins two ways with the second being discouraging use of your sick plan the last few years!
09-08-2015, 05:01 PM
#94
Part Time Employee
Joined APC: Jul 2006
Position: Dispersing Green House Gasses on a Global Basis
Posts: 1,918
[QUOTE=Viper446;1967004]
It is the lesser of the 3 categories and it is not your full DSA but only 1/2 of it!
So, it would be 1/2 of the $196,196. The max payout would be $98,098
You would also have to make around $616,600 ($308,300 per year) and sell back all of your vacation your last 2 years to keep the first part of the equation high enough to max out your DSA buyback.
If you made $800,000 your last 2 years you would still only get the $98,098 due to the "lesser of" clause.
Originally Posted by MaxKts
It is the lesser of 3 categories!
1. 1/2 of Your last 2 years of compensation over $520K
2. 1/2 Your DSA hours times your payrate
I'm probably missing something but a full sick bank, 686 times the new pay rate of $286 for a WB Captain is, $196,196. And the company will only pay you $110K max, right?
1. 1/2 of Your last 2 years of compensation over $520K
2. 1/2 Your DSA hours times your payrate
I'm probably missing something but a full sick bank, 686 times the new pay rate of $286 for a WB Captain is, $196,196. And the company will only pay you $110K max, right?
So, it would be 1/2 of the $196,196. The max payout would be $98,098
You would also have to make around $616,600 ($308,300 per year) and sell back all of your vacation your last 2 years to keep the first part of the equation high enough to max out your DSA buyback.
If you made $800,000 your last 2 years you would still only get the $98,098 due to the "lesser of" clause.
09-08-2015, 08:28 PM
#95
Gets Weekends Off
Joined APC: Jul 2014
Posts: 296
[QUOTE=MaxKts;1967027]
It is the lesser of the 3 categories and it is not your full DSA but only 1/2 of it!
So, it would be 1/2 of the $196,196. The max payout would be $98,098
You would also have to make around $616,600 ($308,300 per year) and sell back all of your vacation your last 2 years to keep the first part of the equation high enough to max out your DSA buyback.
If you made $800,000 your last 2 years you would still only get the $98,098 due to the "lesser of" clause.
If its the lessor of any, its $110K max.
Originally Posted by Viper446
It is the lesser of the 3 categories and it is not your full DSA but only 1/2 of it!
So, it would be 1/2 of the $196,196. The max payout would be $98,098
You would also have to make around $616,600 ($308,300 per year) and sell back all of your vacation your last 2 years to keep the first part of the equation high enough to max out your DSA buyback.
If you made $800,000 your last 2 years you would still only get the $98,098 due to the "lesser of" clause.
Thread
Thread Starter
Forum
Replies
Last Post
DLax85
Cargo
11
01-18-2017 07:53 PM
