Originally Posted by Tom a Hawk
(Post 2632160)
Look dude, if you want to retire earlier than everybody else you have to do MORE than everybody else. There’s plenty between the 15% 401k, veba, and high income potential to max your savings and peace out at 59 1/2 IF you’re willing to do the work. That includes figuring out stuff like healthcare, paying off your mortgage, kids college, etc.
This isn’t the only mountain you have to climb to retire early. If it were easy, everybody would do it *Edit Actually the are many of these mountains in the TA, but you get my point. |
Originally Posted by PasserOGas
(Post 2631976)
The "spill over" amount is YOUR MONEY. It's money that, but for the VEBA would have been returned to you, albeit taxed.
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Originally Posted by Tom a Hawk
(Post 2632160)
Look dude, if you want to retire earlier than everybody else you have to do MORE than everybody else. There’s plenty between the 15% 401k, veba, and high income potential to max your savings and peace out at 59 1/2 IF you’re willing to do the work. That includes figuring out stuff like healthcare, paying off your mortgage, kids college, etc.
This isn’t the only mountain you have to climb to retire early. If it were easy, everybody would do it |
Originally Posted by Tom a Hawk
(Post 2632160)
Look dude, if you want to retire earlier than everybody else you have to do MORE than everybody else. There’s plenty between the 15% 401k, veba, and high income potential to max your savings and peace out at 59 1/2 IF you’re willing to do the work. That includes figuring out stuff like healthcare, paying off your mortgage, kids college, etc.
This isn’t the only mountain you have to climb to retire early. If it were easy, everybody would do it Negotiating EVERYTHING at once, from scratch, is a heavy lift, especially when you have a ruthless "caring" employer as we do. So this will probably have to be addressed in the next contract cycle, along with OE pairings and Gate Agent Profit Sharing and Gate Agent Healthcare, and pathetic COLA and the rest. |
Originally Posted by PasserOGas
(Post 2630540)
Literally every other airline in our peer set including Hawaiian and Alaska get access to the company's medical insurance when you retire before 65.
What does our sub standard TA have? Nada. Nothing. Zip. At Jetblue you will work to 65 or Long term disability unless your spouse works else you risk health care will eating up all your savings. For the junior guys, this means much slower movement as everyone hangs on to the end. Huge huge problem. Yet another far, far below market rate section of this terrible TA. All right, I’ll retract and join yall’s club if somebody can help me out with some documentation. I’m having trouble finding this in the contract comparison, because if “literally all” of our peers get something we don’t, alpa obviously isn’t going to highlight it. I’ve always had the goal to be ABLE to retire at 55 because 30 years in this industry is plenty. If it’s still working for me, and I can make it close to part time I might continue longer. My mom is out at 59 and 11/12ths next month and dad is 60 and working because he WANTS to. They didn’t do it through reliance on company benefits. They did it through admittedly high income but living well below that and figuring out these hurdles. I’m not interested in relying on company programs to secure my future in every area. That’s why 401k and Veba are so appealing. |
Latest contract comparison, pages 69 and 70, "RETIREE MEDICAL". Benefit, Pre-Med: Same plan as actives.
It's all there. |
I also asked about this issue, and its not active HC rates.
Pilots that pay 100% of the cost of medical when retiring early: American Southwest Spirit Delta (unless in the DPMP - which less than 10% of their pilots are - they pay 51%. 51% of the cost of that plan is almost as much as the full cost of the other plans) Pilots that pay a portion of the cost of medical when retiring early: Alaska: 50% of the cost United: 40-80% of the cost depending on years of service. Pilots that pay active healthcare rates: Hawaiian But I'm guessing you don't want Hawaiian pay rates. :) |
Good info! At least these pilots have the option, which may be preferable to shopping on the open market. I'm just as concerned with insurability as I am with the premium. You can always plan to allocate more funds. It's difficult to plan if you can't be sure you'll have any coverage at all.
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Originally Posted by expectholding
(Post 2632670)
I also asked about this issue, and its not active HC rates.
Pilots that pay 100% of the cost of medical when retiring early: American Southwest Spirit Delta (unless in the DPMP - which less than 10% of their pilots are - they pay 51%. 51% of the cost of that plan is almost as much as the full cost of the other plans) Pilots that pay a portion of the cost of medical when retiring early: Alaska: 50% of the cost United: 40-80% of the cost depending on years of service. Pilots that pay active healthcare rates: Hawaiian But I'm guessing you don't want Hawaiian pay rates. :) OK, you need to explain what you mean by 100%. True that some of the early retiree plans differ from the active pilot plan, but none of them are literally no health insurance. I for one would love more details. |
Originally Posted by PasserOGas
(Post 2632919)
OK, you need to explain what you mean by 100%. True that some of the early retiree plans differ from the active pilot plan, but none of them are literally no health insurance.
I for one would love more details. |
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