RE18: Enthusiasm for your proposal is very likely inversely proportional to ones age/time&money "vested" in ones present pension plan. For many people, the milk is already spilled(Read Ch11). For many others, you are proposing changing horses in midstream(or, worse, nearing the finishing line).This would entail "freezing" current pension plans that haven't been trashed (yet???). Lets see; discontinue putting $$ into pension funds, continue to pay generous $$ to current retirees, AND have enough left over to pay "decent" amt. of $$ to future "transitioned" retirees??? I DON'T THINK SO!! Another issue: What ammount of 401K matching would be sufficient to make up the difference between long-held retirement expectations and the reduced ammount from frozen plan? While I'm ATP/CFI-I, and not CFP, I have a pretty fair idea that its going to take a bit more than best case 100% SW Style match over a long period of time to make up for anticipated(inevitable???) shortfalls in a frozen pension plan to 401K plan transition.

 

When I got hired at US in 1989, the status of an Airline Pilot had been reduced from Absolute Kings in status and compensation in the late 60's down to Average Executive Level compensation in the late 80's. Now in this decade, the assault continues forward and the target is to bring it on par with Greyhound and Trailways drivers. And they (Airline Managements) have achieved this in many areas with the advent of the RJ's and mass sell outs by various union's around the industry.

I have great respect for the Delta guys as they made noise about going out on strike in defense of the career expectations. I hope it is more than noise. But with the draconian, and in my opinion, illegal use of bankruptcy laws, I do not see how they are going to be successful.