Pensions/Retirement
04-23-2012, 06:24 PM
#1
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Thread Starter
Joined APC: Nov 2006
Posts: 59
Pensions/Retirement
Fellow Pilots, is there any "major people hauler" out there in the last 10-15 years that has not done away with the pension/retirement for their employees (except perhaps Southwest)? I'm not trying to incite a riot but gather information as to the state of our profession. Thank you in advance for your civil responses to this serious question.
04-24-2012, 03:51 AM
#2
Gets Weekends Off
Joined APC: Apr 2008
Posts: 1,462
Originally Posted by GOFRTRS
Fellow Pilots, is there any "major people hauler" out there in the last 10-15 years that has not done away with the pension/retirement for their employees (except perhaps Southwest)? I'm not trying to incite a riot but gather information as to the state of our profession. Thank you in advance for your civil responses to this serious question.
UAL: 16%
DAL: 14%
CAL: 12.75%
USAir: 10%
SWA: 9.3% (and its a match, so you have to contribute 10% to get it)
04-24-2012, 04:08 AM
#3
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Joined APC: Dec 2009
Position: Going to hell in a bucket, but enjoying the ride .
Posts: 7,722
Originally Posted by GOFRTRS
Fellow Pilots, is there any "major people hauler" out there in the last 10-15 years that has not done away with the pension/retirement for their employees (except perhaps Southwest)? I'm not trying to incite a riot but gather information as to the state of our profession. Thank you in advance for your civil responses to this serious question.
American Airlines' pilots are fighting to keep theirs right now.
Is there any 'large' (vs. Major) airline out there that still has a Defined Benefit plan?
Alaska? Hawaiian? Jet Blue? What do you guys have?
Oh, and Emirates, since they will shortly be the largest airline, IN THE WORLD, what do they offer for retirement?
04-24-2012, 06:20 AM
#5
Gets Weekends Off
Joined APC: Sep 2005
Posts: 1,110
Emirates has a provident fund which is their version of a b-plan. I'm not sure what percent or how long it takes to vest.
Cathay Pacific also has a provident fund. They contribute 15.5% of salary into it. It vests 10pct/yr. If you leave after 5yrs you get 50% for example. In the US we can take it as cash which is what most do since they don't offer us any tax advantaged retirement. I invest it in a taxable Acct which is better than nothing I guess.
Cathay Pacific also has a provident fund. They contribute 15.5% of salary into it. It vests 10pct/yr. If you leave after 5yrs you get 50% for example. In the US we can take it as cash which is what most do since they don't offer us any tax advantaged retirement. I invest it in a taxable Acct which is better than nothing I guess.
