captjns

Sorry EWRBASEDPILOT... apples and oranges when you reference pickline crossers and those excersing their rights under the law of ERISA and thus must be in compliance with QDRO.

Refer to my post regarding the nasty grams. I'm sure there are other divorces in the works.

ewrbasedpilot

No, that's not it. What we're concerned about is a few who so carelessly try to SCREW everyone with SHAM divorces. Why are so many on this board having such a hard time seeing that? Sorry, but in my 51+ years, I've only met one guy who remarried his wife after a divorce. (And believe me, he wasn't so "willing" to give her half of his retirement as these folks were). Knowing 9 people at the same airline who are friends all doing the SAME thing just seems a bit too "convenient" to me. I don't know, maybe this a normal divorce occurence at airlines and I just haven't heard about it before.

ewrbasedpilot

How so? ALL they are doing is trying to get a job. What harm is their in that? Doesn't matter that it hurts others, it is LEGAL, and they are just exercising their rights under the law, right? Oh, and I have ZERO respect for them too.

captjns

Negative... the alternate payee ei: spouse received the present value of the actuarial equivalent of a 100% Joint and Survivor Annuity.

The participant's normal retirement benefit is funded on the basis of a life only annuity which is calculated based on their average monthly salary averaged over a period of time, which can be the last 3 years of service, 5 last years of service, or the highest average monthly salary.

Then the accrued benefit is actuarially adjusted to determine the amount of an annuity that can be purchased based on a 100 percent joint and survivor annuity.

Then the distribution is further adjusted to determine the actual lump sum equivalent.

Thus after the distribution to the alternate payee has been made, the participant's normal retirement benefit was actuarially adjusted to reflect said distribution.

ewrbasedpilot

Okay guys........you win. I hope this pandora's box is opened at ALL airlines and their is a massive run on lump sums with "fun for everyone divorces". Maybe you'll see why some of us think their actions are wrong. I'll just move along.........

Fugawe

Quote:

Originally Posted by ewrbasedpilot

Okay guys........you win. I hope this pandora's box is opened at ALL airlines and their is a massive run on lump sums with "fun for everyone divorces". Maybe you'll see why some of us think their actions are wrong. I'll just move along.........

Ha! You won't leave this thread......maybe you won't post, but you'll be checking it as it's entertaining to you.

There's no 'pandora's box', and there will be no massive run on lump sums. You just made a mountain out of a molehill pounding on a few guys out of many, many thousands of pilots who took 'unethical' divorces in your opinion. You fell on your sword and now it's sticking out your butt for all to see.

You've totally ignored any logical and/or illogical points offered up by others -- and points of law. You've accused some of us of ridiculous persuasions (unethical, unlawful, scab-lovers, etc) based on a few lines posted here.

I hope you operate your flights on a much less impetuous level.

Captain Bligh

The only reason there was a "bank run" on the CAL fund was because ALPA didn't fight to keep what they'd previously negotiated and '02 was corosive. These people said, "Screw that. A promise is a promise. I'll do what it takes to hold the company's feet to the fire."

...and by the way I've flown with 3 of these people, not that much different than the rest of us...

Boomer

Must have been quite a party...