Pilots at financially strong companies (FedEx & UPS for example) need to be aware of some major drawbacks of changing the current retirement age. As explained to me:

B-fund: Ask an over-60 F/E if he is getting any contributions towards his B fund. No he is not; the section 415(b) does not allow it. This is also the section that allows us to have a tax deferred fund to make up for the requirement for pilots to retire earlier that Social Security limits. Theoretically, we could lose this entire benefit.

That should be enough to start the 45-55 year olds to write the congressman!

Sorry, you're again wrong. The B fund is funded for over 60 guys. Just another typical piece of bad info out there.

soon you will have to change position to 727fe...hehe

Sorry, not only is this incorrect, but once you hit the age of 70 1/2, the company HAS to start paying you MANDATORY "A fund retirement", AND you still continue to accrue longevity, PLUS the B fund is still being added to, but you are required to take mandatory withdrawls per IRS rules. This is a percentage based upon you current age.

I just spoke with one of our great, advanced in years (>73), PFE's who was amazed at the amount of cash coming in....

I stand corrected, my apologies for posting bad info. The explanation came from an accountant, not a line pilot. The one pilot I did speak to confirmed, but "misunderstood" what I asked. Now another pilot told me he is still getting the contributions.

Lets not forget the fleet and seat displacements from all the over 60 FE's that could immediately upgrade to widebody captain!

Looks like:
More time spent on reserve
More time commuting
More time staying in a crash pad
More time as FO
More time on smaller equipment making less money.

Geez, these financial negatives came right off the top of my head. There is no doubt that changing age 60 would have be a "Financial Negative" for ALL pilots under age 65.

Plain and simple...
We don't want to work longer to earn the same amount of money!

Lets hope age 60 is never changed. The only thing I want to be flying when I am 60 is a Cessna-172 with my grandson in it.

There would have to be a (vacancy) bid filled by seniority just like every other seat change opportunity! It would certainly slow down upgrade opportunities for the young guys however. In short, it's a bad deal if you are under 60.

I'm really looking forward to flying with the Alzheimers Captains. Should be great fun to mess with their memory issues. Can't wait ...

Mark

I've heard the co is already looking at this and the reality is most of the back seaters would be frozen in place and just paid captain pay. Not worth it to train them, not enough time left for most of them. Then they'll start *****ing to raise it to 70.

How about if you're 59. Would it be a bad deal then?
How about if you're 58. Would it be a bad deal then?
How about if you're 57 and have been hanging out in the right seat, but would like to go for the gold? Would it be a bad deal then?
How about if you're 56 and have only 8 or 10 years with the company, and would like to get a few more higher income years at the 2% a year?, because this thing is not about captains only, it's about first officers too. Would it be a bad deal then?
How about if you were 50 and you were on your forth wife and third house. Would it be a bad deal then?
How about if you're 45 and just got hired after your last company went Tango Uniform, or you just got here from the military. Would it be a bad deal then?
How about if you're 30, and you were about to become a Boeing captain.... Would it be a bad deal then? Maybe. As for displacement, in my opinion, it won't happen, at least not at FedEx. Maybe at other airlines, with less growth, but not here.

And, oh, by the way, Mark, did you say something? Like I said before, if a guy can handle the job, that's fine. If he can't, then he shouldn't be there. But for you to say "I'm really looking forward to flying with the Alzheimers Captains. Should be great fun to mess with their memory issues. Can't wait ..." shows a level of maturity of a 12 year old. Maybe they shouldn't go by age, but by maturity. Surely you'd be on the street.

Excellent post by JetJok - it all depends are your perspective and it's always about money - young or old.