TA's impact on Age 70 Regulated Age
09-21-2015, 07:00 PM
#11
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Joined APC: Aug 2012
Posts: 711
Originally Posted by Viper446
Here's my look at the lack of retirement fix. I've been here since 1996, I'll have my 25yrs in when I'm 58 and I'll be 60 in 9yrs. I'm a WB Capt. I'm setting myself up to retire at 60. I've been maxing the 401K for as long as I could contribute. I'll probably have a full sick bank when I near retirement. But since there is no change to our retirement, why should I go before 60? The sick bank buyout doesn't make any sense to me or entice me. I can make more money by staying another 5 yrs, flying carryover, because I'll be senior enough to do it, and with a full sick bank, I'll hardly work the last 5 yrs. I'll have 36 days of vacation. If you are close to retirement, the buyout is great. But if you want a decent retirement, I think you are going to work your butt off your last years to get 500K or more in the bank and basically fund your own retirement
Here's a question I have and maybe someone here can help. You only get the lessor of 3 things, One was past last two years earnings over $520K, the sick bank and something else. My question is, if you have a full sick bank, $110K of that is roughly 300hrs X what ever the new Captain pay rate will be. If I have 686hrs when I retire, the company will only pay me for about 384 hrs of sick at new pay rates. So do I only need only 384hrs of sick to maximize the SLB payment or do I have to have a full sick back to get half?
Here's a question I have and maybe someone here can help. You only get the lessor of 3 things, One was past last two years earnings over $520K, the sick bank and something else. My question is, if you have a full sick bank, $110K of that is roughly 300hrs X what ever the new Captain pay rate will be. If I have 686hrs when I retire, the company will only pay me for about 384 hrs of sick at new pay rates. So do I only need only 384hrs of sick to maximize the SLB payment or do I have to have a full sick back to get half?
1) [ last 2 years earnings including any vacation buyback (but earnings can't include any from RSA or DSA use) - $520,000 ] divided by 2
2) [ DSA times ending pay rate ] divided by 2
It's the lesser of the above, but not to exceed $110,000
09-21-2015, 07:18 PM
#12
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Joined APC: Jul 2014
Posts: 296
Originally Posted by Raptor
SIck leave buyback:
1) [ last 2 years earnings including any vacation buyback (but earnings can't include any from RSA or DSA use) - $520,000 ] divided by 2
2) [ DSA times ending pay rate ] divided by 2
It's the lesser of the above, but not to exceed $110,000
1) [ last 2 years earnings including any vacation buyback (but earnings can't include any from RSA or DSA use) - $520,000 ] divided by 2
2) [ DSA times ending pay rate ] divided by 2
It's the lesser of the above, but not to exceed $110,000
09-21-2015, 07:27 PM
#14
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Position: 767 CA
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Originally Posted by Viper446
Thanks, So any hours in my DSA that would be over $110K would be lost. So I would only need about 384hrs X the Capt wide body pay rate.? I'm using WBC pay at $286. It may be different.
384 x 286 = 109824. but then you have to divide that by 2 (50 cents) which would be $54912
09-21-2015, 07:34 PM
#15
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Position: 767 CA
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It's not until the Nov 2019 pay rates can a WB CA use a little of his sick bank his last year that buy back of sick leave is greater than $110K. And that is only using about 11 hours. The 2020 pay rates you can use about 30 hours.
09-21-2015, 07:34 PM
#16
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Originally Posted by Viper446
Thanks, So any hours in my DSA that would be over $110K would be lost. So I would only need about 384hrs X the Capt wide body pay rate.? I'm using WBC pay at $286. It may be different.
Example, with pay rate of $260 per CH.
Have DSA bank on retirement of 686. Take 686 times $260 and get $178,360. Divide that by 2 and get $89,180.
Have final 2 years earnings of $580,000 plus $52,000 vacation buyback plus $35,000 signing bonus (for retirements within two years of TA signing date of November 2nd) = $687,000 - $520,000 = $167,000 / 2 = $83,500
Take lesser of the two which in this example is $83,500 and it can't exceed $110,000.
In future years, won't have signing bonus to add in. Also note, you can have greater than 686 DSA hours if your last year you roll over your last RSA into it.
Also note, you can get an advance notification bonus if you're 54 or older as of November 2nd.
Bonus details subject to advance notification, being age 60, etc.
Take a look at fedex.alpa.org
All the details are spelled out there and there are videos explaining it all--better and more accurately than I do here.
09-21-2015, 07:37 PM
#17
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Originally Posted by The Walrus
You also have to make more than $630,000 for the last two years. Not hard for an 11 or 777 capt flying international, not as easy for a domestic capt.
740 -520 = 220 / 2 = 110
09-21-2015, 10:09 PM
#19
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Joined APC: Jul 2014
Posts: 296
[QUOTE=Raptor;1976387]Both 1) and 2) are divided by 2.
Example, with pay rate of $260 per CH.
Have DSA bank on retirement of 686. Take 686 times $260 and get $178,360. Divide that by 2 and get $89,180.
Have final 2 years earnings of $580,000 plus $52,000 vacation buyback plus $35,000 signing bonus (for retirements within two years of TA signing date of November 2nd) = $687,000 - $520,000 = $167,000 / 2 = $83,500
Thanks, I appreciate the numbers. So a full sick bank is only going to be worth $89K under the current pay rates? I think I'd rather work another 5yrs, use the sick and make another 1.4 million, based loosely on $286/hr, 965 hrs/yr and 5 years. Losely based. I guess I know where I'm going. 65. If there was a full buyout for sick, I'd be gone at 60. This contract does nothing than reward guy who are close to retirement, good for them, and do nothing for the rest of us.
It seems to me again, we are going to have to work longer to fund the lack of retirement we are not getting. That's BS
Example, with pay rate of $260 per CH.
Have DSA bank on retirement of 686. Take 686 times $260 and get $178,360. Divide that by 2 and get $89,180.
Have final 2 years earnings of $580,000 plus $52,000 vacation buyback plus $35,000 signing bonus (for retirements within two years of TA signing date of November 2nd) = $687,000 - $520,000 = $167,000 / 2 = $83,500
Thanks, I appreciate the numbers. So a full sick bank is only going to be worth $89K under the current pay rates? I think I'd rather work another 5yrs, use the sick and make another 1.4 million, based loosely on $286/hr, 965 hrs/yr and 5 years. Losely based. I guess I know where I'm going. 65. If there was a full buyout for sick, I'd be gone at 60. This contract does nothing than reward guy who are close to retirement, good for them, and do nothing for the rest of us.
It seems to me again, we are going to have to work longer to fund the lack of retirement we are not getting. That's BS
09-22-2015, 04:08 AM
#20
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Joined APC: Apr 2009
Position: Mad Dog Capt
Posts: 226
[QUOTE=Viper446;1976446]
Exactly. 
Originally Posted by Raptor
Have DSA bank on retirement of 686. Take 686 times $260 and get $178,360. Divide that by 2 and get $89,180.
Thanks, I appreciate the numbers. So a full sick bank is only going to be worth $89K under the current pay rates? I think I'd rather work another 5yrs, use the sick and make another 1.4 million, based loosely on $286/hr, 965 hrs/yr and 5 years. Losely based. I guess I know where I'm going. 65. If there was a full buyout for sick, I'd be gone at 60. This contract does nothing than reward guy who are close to retirement, good for them, and do nothing for the rest of us.
It seems to me again, we are going to have to work longer to fund the lack of retirement we are not getting. That's BS
Thanks, I appreciate the numbers. So a full sick bank is only going to be worth $89K under the current pay rates? I think I'd rather work another 5yrs, use the sick and make another 1.4 million, based loosely on $286/hr, 965 hrs/yr and 5 years. Losely based. I guess I know where I'm going. 65. If there was a full buyout for sick, I'd be gone at 60. This contract does nothing than reward guy who are close to retirement, good for them, and do nothing for the rest of us.
It seems to me again, we are going to have to work longer to fund the lack of retirement we are not getting. That's BS
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