Go Back  Airline Pilot Central Forums > Pilot Lounge > Mergers and Acquisitions
Retirement comparisons- DAL vs. NWA >

Retirement comparisons- DAL vs. NWA

Notices
Mergers and Acquisitions Facts, rumors, and conjecture

Retirement comparisons- DAL vs. NWA

Old 11-14-2008, 09:44 AM
  #1  
Line Holder
Thread Starter
 
NoSoupForYou's Avatar
 
Joined APC: Apr 2008
Position: DAL 7ER F/O
Posts: 92
Default Retirement comparisons- DAL vs. NWA

Okay gang-

This is probably a huge can of worms, but maybe we can at least get some rough comparisons. Our MEC R&I people at Delta keep telling us we're better off than NWA because we don't have a pension (I know, I know...but stay with me.)

So, perhaps I can get somebody at NWA "similarly situated" to tell me in rough terms what their frozen DB will pay at age 60. My numbers are as follows:

Currently age 48
Hired DAL in 1990
Currently 767 F/O

My PBGC benefit at age 60 (year 2020) will be $2,702/month.

Can anyone similarly situated at NWA- hired in 1990 and about my age- tell me roughly what your frozen DB monthly check will pay when you turn 60?

I'm mostly curious about the fixed monthly payment portions at this point. But if it helps to compare, I also have the MPPP account distributed from our old DB plan currently worth around $65,000 and the bankruptcy Note money currently worth around $40,000.

If you find this discussion interesting or enlightening, go ahead and post your own data-points- age, hire date, original airline, and monthly benefit at age 60. I've not been able to find these comparisons from any "official" sources so thought this would be worthwhile.

Thanks!

Soup
NoSoupForYou is offline  
Old 11-14-2008, 09:57 AM
  #2  
Gets Weekends Off
 
Ferd149's Avatar
 
Joined APC: Apr 2008
Position: LAX ERA
Posts: 3,457
Default

Originally Posted by NoSoupForYou View Post
Okay gang-

This is probably a huge can of worms, but maybe we can at least get some rough comparisons. Our MEC R&I people at Delta keep telling us we're better off than NWA because we don't have a pension (I know, I know...but stay with me.)

So, perhaps I can get somebody at NWA "similarly situated" to tell me in rough terms what their frozen DB will pay at age 60. My numbers are as follows:

Currently age 48
Hired DAL in 1990
Currently 767 F/O

My PBGC benefit at age 60 (year 2020) will be $2,702/month.

Can anyone similarly situated at NWA- hired in 1990 and about my age- tell me roughly what your frozen DB monthly check will pay when you turn 60?

I'm mostly curious about the fixed monthly payment portions at this point. But if it helps to compare, I also have the MPPP account distributed from our old DB plan currently worth around $65,000 and the bankruptcy Note money currently worth around $40,000.

If you find this discussion interesting or enlightening, go ahead and post your own data-points- age, hire date, original airline, and monthly benefit at age 60. I've not been able to find these comparisons from any "official" sources so thought this would be worthwhile.

Thanks!

Soup
Soup,

Let me dig into it for some exact numbes......after I take momma to her Friday afternoon movie

I'm older but junior to you and as I recall my pension was frozen as a 10 year 757FO (10year/25s) and is around $2600ish as I recall.

Interesting question.

Ferd
Ferd149 is offline  
Old 11-14-2008, 10:44 AM
  #3  
Line Holder
 
skysdlimit's Avatar
 
Joined APC: Oct 2008
Position: DAL A320 CA
Posts: 36
Default

Soup

You think the PBGC will be around in 2020? I'm right behind you. I need it to be around in 2023. Wait until they get all the automakers' pensions. We're doomed. We need a significant increase in the DC % next round of negotiations.
skysdlimit is offline  
Old 11-14-2008, 11:32 AM
  #4  
Line Holder
Thread Starter
 
NoSoupForYou's Avatar
 
Joined APC: Apr 2008
Position: DAL 7ER F/O
Posts: 92
Default

Originally Posted by skysdlimit View Post
You think the PBGC will be around in 2020? I'm right behind you. I need it to be around in 2023. Wait until they get all the automakers' pensions. We're doomed. We need a significant increase in the DC % next round of negotiations.
Sky-

I agree on all points- and I share your concern. Smarter guys than me have predicted that both the PBGC and Social Security will be gone- and that our 401Ks- even those in the most "secure" money-market investments- will be essentially gone as fund after fund "breaks the buck". I could go on and on...but instead I'd like to try to keep this thread somewhat narrowly on topic. Specifically to compare monthly cash benefits of "similarly situated" DAL and NWA pilots.

Numbers anyone to add to mine?

Soup
NoSoupForYou is offline  
Old 11-14-2008, 12:57 PM
  #5  
Gets Weekends Off
 
Joined APC: Feb 2008
Posts: 2,539
Default

Originally Posted by NoSoupForYou View Post

I agree on all points- and I share your concern. Smarter guys than me have predicted that both the PBGC and Social Security will be gone- and that our 401Ks- even those in the most "secure" money-market investments- will be essentially gone as fund after fund "breaks the buck". I could go on and on...
If the PBGC fails and Social Security fails and 401K's fail, what do you think the chances of the NWA pension plan actually paying a hard frozen benefit are?
slowplay is offline  
Old 11-14-2008, 01:11 PM
  #6  
Line Holder
Thread Starter
 
NoSoupForYou's Avatar
 
Joined APC: Apr 2008
Position: DAL 7ER F/O
Posts: 92
Default

Originally Posted by slowplay View Post
If the PBGC fails and Social Security fails and 401K's fail, what do you think the chances of the NWA pension plan actually paying a hard frozen benefit are?
I'm thinking probably about the same odds as keeping this thread on-topic!

Any NWA 1990 hires out there who could post what their frozen DB is supposed to pay at age 60? Did NWA provide you that number?

Soup
NoSoupForYou is offline  
Old 11-14-2008, 01:14 PM
  #7  
Line Holder
 
Joined APC: Jan 2007
Posts: 28
Default

Originally Posted by NoSoupForYou View Post
I'm thinking probably about the same odds as keeping this thread on-topic!
No On-Topic Posts for you!!!
jkengberg is offline  
Old 11-14-2008, 06:43 PM
  #8  
Gets Weekends Off
 
Kingbird87's Avatar
 
Joined APC: Mar 2008
Position: A330B
Posts: 210
Default

As an April 87' hire, my defined benefit is supposedly 6450 a month.
Kingbird87 is offline  
Old 11-14-2008, 06:54 PM
  #9  
Line Holder
Thread Starter
 
NoSoupForYou's Avatar
 
Joined APC: Apr 2008
Position: DAL 7ER F/O
Posts: 92
Default

Originally Posted by Kingbird87 View Post
As an April 87' hire, my defined benefit is supposedly 6450 a month.
Ouch (for me). Anyone closer to a 1990 hire at NWA to compare with?

Soup
NoSoupForYou is offline  
Old 11-14-2008, 07:02 PM
  #10  
Gets Weekends Off
 
newKnow's Avatar
 
Joined APC: Feb 2007
Position: 765-A
Posts: 6,844
Default

Originally Posted by NoSoupForYou View Post
Ouch (for me). Anyone closer to a 1990 hire at NWA to compare with?

Soup
If I remember correctly, percentage wise where are very few NWA guys who are '90 hires. I think that was year that got hit by furloughs and some didn't come back. So, the chance of one of them being on here is lower.
newKnow is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
RockyBoy
Mergers and Acquisitions
161
11-02-2008 10:39 AM
acl65pilot
Major
36
10-29-2008 06:29 PM
Scoop
Mergers and Acquisitions
4
10-02-2008 09:45 AM
ERJ Jay
Major
7
08-27-2008 12:09 PM
JetFlyer06
Mergers and Acquisitions
4
08-08-2008 08:48 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices