Extended Tine Off/Early Retirement Ofer
06-01-2020, 08:56 AM
#22
Gets Weekends Off
Joined APC: Mar 2011
Posts: 1,022
Originally Posted by WHACKMASTER
So is there a quota for either of these programs? Nothing stated right? I’m assuming only the Kompany knows what numbers they’re targeting?
Nothing I've seen, but why wouldn't they want to tell us?
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06-01-2020, 09:59 AM
#25
Line Holder
Joined APC: May 2016
Posts: 78
Originally Posted by Flyby1206
How does this make any economic sense for SWA? 55 tfp for 5yrs is big bucks vs furloughing someone in a single fleet airline?
06-01-2020, 10:00 AM
#26
SDQ Base Chief
Joined APC: Mar 2006
Position: 320 CA
Posts: 5,588
Originally Posted by Privateer89
Being able to get rid of a captain while paying 67 TFP/Month and no NEC appears to save about 100K/year....roughly what a 1-2 year FO would cost. Seems like a fairly good offer to take voluntarily from the top instead of involuntarily from the bottom.
06-01-2020, 10:09 AM
#27
Gets Weekends Off
Joined APC: Dec 2017
Posts: 381
Seems like there's apples and oranges being talked about here. The 55 TFP for 5 years is the max ExTO being offered, and IMO, anyone going out on ExTO for 5 years will be called back well prior to the 5 year point.
The 67 TFP thing and no NEC being mentioned is the VSP.
Two different programs.
The 67 TFP thing and no NEC being mentioned is the VSP.
Two different programs.
06-01-2020, 10:10 AM
#28
Gets Weekends Off
Joined APC: Mar 2011
Posts: 1,022
Originally Posted by Flyby1206
Can you explain NEC for an outsider? Is that company 401k match?
No it's a Direct Contribution (DC) of 15%, not a match. You don't have to put anything in. NEC is non-elective contribution. I may be wrong, but I think SWA is the only one that uses that terminology as they like to do with many many other things...
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06-01-2020, 10:11 AM
#29
weekends off? Nope...
Thread Starter
Joined APC: Apr 2014
Posts: 1,940
Originally Posted by WHACKMASTER
So is there a quota for either of these programs? Nothing stated right? I’m assuming only the Kompany knows what numbers they’re targeting?
06-01-2020, 10:14 AM
#30
Gets Weekends Off
Joined APC: Mar 2011
Posts: 1,022
Originally Posted by HulkaBurger
Seems like there's apples and oranges being talked about here. The 55 TFP for 5 years is the max ExTO being offered, and IMO, anyone going out on ExTO for 5 years will be called back well prior to the 5 year point.
The 67 TFP thing and no NEC being mentioned is the VSP.
Two different programs.
The 67 TFP thing and no NEC being mentioned is the VSP.
Two different programs.
And they both work out to about the same TFP from the company. Just a matter of when that TFP is realized in your bank account and how close to the max in your sick bank you are.
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