Carl, GMAFB. NWA ALPA didn't decide it was fair to take "your" DC plan and give it to the junior pilots. From your previous posts it's obvious you were a yes voter. That means you agreed to the entire POS TA which we now have (which by the way spelled out how the new retirement system would work). It is you who should thank the junior pilots for saving your retirement. Please don't try to rewrite history on this board. You pulled up the ladder and now must live with your decision to vote yes!

Carl,
Even with your DC money I will get about 37% FAE at my reduced rate when I retire.
What are you getting?
Oh, and thank you so much from a junior pilot.
IM

what is it that they are getting over and above the 6.5%?

First off, I voted NO. Secondly, the POS TA did NOT spell out that all DC monies would be taken from the top half and given to the bottom half. If you think the TA said that, post your proof. The TA is in writing. Show me where it said that? If I'm rewriting history, it should be easy for you to prove

I'm sending the bottom half of the NWA list ALL of my DC money, yet I need to thank YOU for saving MY pension? Alrighty then.

I don't think the average junior NWA pilot is so ungrateful and filled with an infinite entitlement complex such as your's. It would be nice to exempt the massively ungrateful types such as yourself.

Carl

Why is that IM? Could it be because I've been here over 25 years and you haven't? I'd love to have a military pension because it's guaranteed and I would never have to worry about the PBGC. Just one problem, I'm not eligible for one under the rules of military pensions. You're getting what you are getting because that was the rules that pertained to everyone (including me when I had your length of service).

As you correctly state 37% is better than you would have gotten without being given ALL the DC contributions from people like me. Your welcome.

And by the way, I think I'll get about 51% FAE.

Carl

Carl what will a new hire nwa pilot have at the end of their career if it was the same length of your time? will it be more or less then what you are getting? I don't know the answer that's why I am asking.

eric

The way I see it is you have a frozen DB plan and a frozen DC plan because you will retire with more $ (51%) then our contract says we should have at retirement.
I wont have a military pension either and I will have 25+ years of service just like you when I retire. And I will still only have 37% FAE even with "your" money.
I think it would have been better to dump your pension and have better work rules and pay now like Delta does. Then I also would not have to listen to you tell us how much we should be kissing you but.
IM

How much will the bonds Delta took out when they terminated the pension cost the new company?

Eric,
The question should be: What will a junior NWA pilot hired under the same contract as Carl get at retirement? It was 60% FAE, then after BK it went to 50%. Somehow I'm projected to get 37%. And Carl thinks I owe him a big thank you.
IM

There were no bonds issued when the pension terminated. PBGC got paid a claim of $225 million cash and a stock claim of $2.2 billion. As part of our bankruptcy contract Delta pilots got an equity claim of $2.1 billon and a cash payout of $650 million. The equity claim got sold for 60 cents on the dollar.