NJ LongTerm Disability (LTD)
11-01-2023, 04:56 PM
#1
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Thread Starter
Joined APC: Aug 2013
Posts: 154
NJ LongTerm Disability (LTD)
Friend has an interview with both NJ & Flex Jet. Does NJ have LTD or Loss of License insurance and if so can you please post the coverage? Any expected gains in this area in the new contract? Also anyone know if FlexJet has any LTD benefits?
UAL pilot, best of luck on your contract negotiations.
UAL pilot, best of luck on your contract negotiations.
11-01-2023, 06:44 PM
#2
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Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,920
Originally Posted by 500RVR
Friend has an interview with both NJ & Flex Jet. Does NJ have LTD or Loss of License insurance and if so can you please post the coverage? Any expected gains in this area in the new contract? Also anyone know if FlexJet has any LTD benefits?
UAL pilot, best of luck on your contract negotiations.
UAL pilot, best of luck on your contract negotiations.
The union at NJ offered a LOM plan which I signed up for. It cost around $300/month but that will vary based on age I think. Last I heard it maxes out at $8000/month totally tax free, you get every penny of that $8K. They may have a better plan by now. The plan pays the benefit until you reach full Social Security Retirement age. In my case I was 60 when I lost the medical so the benefit period is a little different. I draw it for 5 years after the 3 years of NJ pay runs out. That takes me to 68. Had I been 61 it would be a bit shorter, same for 62, 63, etc. They don't want 70+ year olds drawing it so the benefit period gets really short as you get older. Also in my case I was required to go thru a Social Security disability hearing which was total BS since what grounded me was a change in medications. And I was required to file for Social Security at my full retirement age which in my case was 66 years and 4 months. They deduct my SS from the benefit.
I haven't heard about any major changes to the plan, I'm sure others will chime in if there has been. I was the 1st pilot to use this plan so there were a few bumps but it all got straightened out.
11-02-2023, 03:38 AM
#3
Gets Weekends Off
Thread Starter
Joined APC: Aug 2013
Posts: 154
Originally Posted by AirBear
I lost my medical in 2017 while a PIC for NJ. I got 3 years of 60% pay, uncapped for the 1st 6 months then capped at $5000/month afterwards. You get full benefits during the 3 years including 401k.
The union at NJ offered a LOM plan which I signed up for. It cost around $300/month but that will vary based on age I think. Last I heard it maxes out at $8000/month totally tax free, you get every penny of that $8K. They may have a better plan by now. The plan pays the benefit until you reach full Social Security Retirement age. In my case I was 60 when I lost the medical so the benefit period is a little different. I draw it for 5 years after the 3 years of NJ pay runs out. That takes me to 68. Had I been 61 it would be a bit shorter, same for 62, 63, etc. They don't want 70+ year olds drawing it so the benefit period gets really short as you get older. Also in my case I was required to go thru a Social Security disability hearing which was total BS since what grounded me was a change in medications. And I was required to file for Social Security at my full retirement age which in my case was 66 years and 4 months. They deduct my SS from the benefit.
I haven't heard about any major changes to the plan, I'm sure others will chime in if there has been. I was the 1st pilot to use this plan so there were a few bumps but it all got straightened out.
The union at NJ offered a LOM plan which I signed up for. It cost around $300/month but that will vary based on age I think. Last I heard it maxes out at $8000/month totally tax free, you get every penny of that $8K. They may have a better plan by now. The plan pays the benefit until you reach full Social Security Retirement age. In my case I was 60 when I lost the medical so the benefit period is a little different. I draw it for 5 years after the 3 years of NJ pay runs out. That takes me to 68. Had I been 61 it would be a bit shorter, same for 62, 63, etc. They don't want 70+ year olds drawing it so the benefit period gets really short as you get older. Also in my case I was required to go thru a Social Security disability hearing which was total BS since what grounded me was a change in medications. And I was required to file for Social Security at my full retirement age which in my case was 66 years and 4 months. They deduct my SS from the benefit.
I haven't heard about any major changes to the plan, I'm sure others will chime in if there has been. I was the 1st pilot to use this plan so there were a few bumps but it all got straightened out.
got your medical back.
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