Age 70? BOHICA...
03-03-2023 | 05:10 PM
#31
Gets Weekends Off
Joined: Apr 2011
Posts: 5,816
Likes: 5
From: retired 767(dl)
03-03-2023 | 07:48 PM
#32
Gets Weekends Off
Joined: Dec 2017
Posts: 2,014
Likes: 1
From: Retired NJA & AA
03-04-2023 | 12:29 PM
#33
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,905
Likes: 691
From: Engines Turn or People Swim
DB can generally only be passed to your spouse, not kids, etc and you typically have to opt in and accept a reduced benefit in exchange for the survivor benefit. Also there are limitationss, in some cases you must be married to that person before you actually retire. I have a buddy who's hanging on longer than he wanted to because he and the girlfriend are not sure about their future (basically not sure if they want to live in the same locations), so he's delaying retirement until they figure that out.
You probably can't import a 25 y/o east European wife and sign your pension over to her after you retire.
03-04-2023 | 08:06 PM
#34
Line holder
Joined: Nov 2013
Posts: 4,167
Likes: 226
From: Aircraft & Seat: old & hard
DB can generally only be passed to your spouse, not kids, etc and you typically have to opt in and accept a reduced benefit in exchange for the survivor benefit. Also there are limitationss, in some cases you must be married to that person before you actually retire. I have a buddy who's hanging on longer than he wanted to because he and the girlfriend are not sure about their future (basically not sure if they want to live in the same locations), so he's delaying retirement until they figure that out.
You probably can't import a 25 y/o east European wife and sign your pension over to her after you retire.
You probably can't import a 25 y/o east European wife and sign your pension over to her after you retire.
03-09-2023 | 04:34 AM
#35
Gets Weekends Off
Joined: Feb 2008
Posts: 20,871
Likes: 189
Did you follow the American chapter 11 filing? They were unable to terminate their pension plans since they were adequately funded. In order to terminate a pension plan the company must file chapter 11. All kinds of bad things can happen in Chapter 11 as management cedes control to the creditors committee. Doug Parker came within 1 vote of snatching Delta. After filing the company has to show that “but for the pension plan” they can’t reorganize. Lastly the plan as mentioned must be severely underfunded.
03-09-2023 | 02:07 PM
#36
Gets Weekends Off
Joined: Dec 2010
Posts: 3,201
Likes: 32
From: 4A2FU
Did you follow the American chapter 11 filing? They were unable to terminate their pension plans since they were adequately funded. In order to terminate a pension plan the company must file chapter 11. All kinds of bad things can happen in Chapter 11 as management cedes control to the creditors committee. Doug Parker came within 1 vote of snatching Delta. After filing the company has to show that “but for the pension plan” they can’t reorganize. Lastly the plan as mentioned must be severely underfunded.
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