Early retirement details
 

Early Retirement Program details now online

Flight Ops today published details of an Early Retirement Program being offered in accordance with LOA 19 of the United Pilot Agreement. Click here to download the terms of this program or find the document by navigating to Flying Together > Flight Operations > Pilot Contract/UPA.

Interested pilots are urged to read LOA 19 because, in case of any disputes, the provisions of LOA 19 will govern. All other retiree benefits and privileges are provided in accordance with the UPA (including LOA 19) or company policy, as applicable.

Jump all over it guys!

If I were sitting on a $900,000 lump sum at age 60 and facing at decrease every year and a change in interest equation coming up, I might consider it if everything was in order.

Given the history on the UAL side, I can't see it making sense for anyone over there.

You might be surprised who will take it. But it has to be funded. I don't know if there is any money left in the program. If there is, I am seriously considering it.....

See LOA 19...

1. The Company’s obligation hereunder shall be limited to offering early retirement opportunities, in the maximum aggregate amount of $20 million, to pilots who are in Active Service on the effective date of the Agreement, and to offer those opportunities on the
terms, and in accordance with the procedures, set forth in this Letter of Agreement.
Accordingly, the Company shall offer early retirement opportunities, pursuant to the terms and procedures of this Letter of Agreement, until the aggregate expense reaches $20 million

It's funded to $20 million and is a GREAT program and will go very fast. Get it while you can! :D

Get out of my seat old man!

Ouch. I may not qualify. I was on voluntary furlough at the effective date of the agreement.

So...using arms-length math, that might get rid of 100-200 folks from the top. I'll take all I can get with the seniority.

$200/hr x 20% x 83 hours x 60 months (assuming an age-60 pilot) would be approx $200,000 which yields only 100 pilots eligible.

If the pilot was age 62 1/2 the early payout would be half that, or $100,000, which yields approx 200 pilots eligible

Get outta my way!