Airline Pilot Central Forums - Continental pilots

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- - Continental pilots - you still have A Plan? (https://www.airlinepilotforums.com/united/71363-continental-pilots-you-still-have-plan.html)

Continental pilots - you still have A Plan?

How much would the A plan benefit be? For a 777 Capt, or 767?

Who are these pilots, i.e., the range of the senioirty numbers, their age, etc.

You also get to receive the 16 percent combined B and C, is that right?

22-B Defined Benefit Plans
22-B-1

CPRP/CARP

Each Pilot participating in the Continental Pilots Retirement Plan (“CPRP”) and/or Continental

Retirement Plan

(“CARP”) on the effective date of the Agreement shall remain a participant in

CPRP and/or CARP, neither of which shall, with respect to Pilots, be modified, amended, or

terminated without the Association’s consent and each of which is incorporated herein b

y
reference. The Continental Retirement Board shall retain its existing authority with respect to
Pilot pension benefits under CPRP and shall continue to meet quarterly unless otherwise
agreed to by the Company and the Association. Any Association members/alternates on the
Continental Retirement Board shall be limited to Pilots who were covered by the Prior CAL

CBA.

From the unitedpilotagreement.com FAQ section, the second question/answer -
Q. Why is Legacy CAL being brought up to 16% and holding a frozen A plan and Legacy UAL gets no improvement to our retirement?

A. Legacy UAL pay increases over CAL far outweigh the PDAP increase for CAL.

Quote:

Originally Posted by Seven6SevenDCA (Post 1299531)

Wow .. now that's an answer from an idiot. CAL work rule improvements far outweigh any work rule concessions for UAL. Give me a break!

So is the concern that it's unfair that CAL pilots have a frozen (and not terminated) A-plan?

First, one third of the CAL pilots do not have an A-plan at all, frozen or otherwise, because they were hired after the plan was frozen in May 2005. All we have have is a B-plan of 12.75%.

Second, those that were hired before 2005 have some amount in a frozen A-plan but for many it is very little. I'm not sure how senior a pilot has to be at CAL to start hitting at least a minimum six-figure lump sum payout option.

At my seniority, I'm getting a $15/hr (12%) raise plus a $5.66/hr increase in my B-plan contribution. Compare that to an Airbus FO who is getting a $35/hr (37%) raise plus a $5.60/hr increase into his B-plan. It remains to be seen how all these work rule improvements play out over time. At least hard pay and retirement contribution numbers are quantifiable for you with your work rules. All I have to go on is a slight improvement in pay and left wondering how the work rules will improve my quality of life in the long run.

I'm about 58% on the CAL list and my lump sum will be @22k, or 200$/month annuity. Not "hookers n' blow" coin, more like "upsize the popcorn and coke" at the movies.

I think 767 is just stirring the pot, 767 do you have a problem with the Cal guys having a A PLan ?

Actually not stirring any pots. I don't have any history of that on the forum.

EWRfly and Lexrst gave me some background. Thanks

We're told it can't happen, yet ....

"American Airlines Inc. parent AMR Corp. has asked a federal bankruptcy court in New York for permission to allow the airline to amend its frozen pilots' pension plan so that retiring pilots cannot receive their accrued benefits as a lump-sum.

If lump-sum payments were allowed, the result would be a significant increase in the number of pilots retiring, resulting in a pilot shortage, AMR said in its filing last week with the U.S. Bankruptcy Court for the Southern District of New York."