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Old 05-30-2021 | 07:00 PM
  #71  
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Duh. Plus min characters.
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Old 05-31-2021 | 08:23 AM
  #72  
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Originally Posted by Ray Kinsella
In theory? I’ve funded my entire 401k with that sick check and I know many others do as well. It’s obviously easier to restore sick bank debits if you live in domicile.
Cannot speak for anyone else, but I haven’t reached that point yet. I do know that most captains do this fairly consistently. I’ve just been sik too much I guess and I never do open time just to replenish my sik bank.
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Old 05-31-2021 | 06:42 PM
  #73  
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Originally Posted by Recliner
Thanks for the replies!

How does the sick time sell back work ? I saw it mentioned in a few of the salary threads but no one expanded on it.

Also, what does adding your spouse to your pension do to the pension? I think it's the survivor benefit?
We have many financial gurus here that can probably give a better answer but I thought that if a crewmember was married, the “Survivor Benefit” was the default and to remove that provision took many notarized signatures from the spouse in triplicate.
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Old 05-31-2021 | 07:02 PM
  #74  
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Originally Posted by 6010C
We have many financial gurus here that can probably give a better answer but I thought that if a crewmember was married, the “Survivor Benefit” was the default and to remove that provision took many notarized signatures from the spouse in triplicate.
Yes, that is correct
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Old 05-31-2021 | 07:06 PM
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For clarification, it looks like people are saying you can sell your sick bank back after a certain amount. The amount can vary depending on your wishes, but you HAVE to sell your sick bank back at some point. There is no carrying it forward year after year beyond the 1XX hrs you have opted for.

The optional amount increases by something like ten hours a year, but think hard before doing that. Your disability benefits like loss of license and mutual aid begin once sick leave is exhausted. It's to your benefit to exhaust it quickly if you are going to be in that situation.
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Old 05-31-2021 | 08:42 PM
  #76  
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Originally Posted by 767pilot
For clarification, it looks like people are saying you can sell your sick bank back after a certain amount. The amount can vary depending on your wishes, but you HAVE to sell your sick bank back at some point. There is no carrying it forward year after year beyond the 1XX hrs you have opted for.

The optional amount increases by something like ten hours a year, but think hard before doing that. Your disability benefits like loss of license and mutual aid begin once sick leave is exhausted. It's to your benefit to exhaust it quickly if you are going to be in that situation.
I have heard this before. I don’t understand that logic.

The way I understand it is that there is a 1 month waiting period after losing ones medical before the “short term disability” insurance kicks-in at $185/week.

The optional Mutual Aid IPA administered insurance plan supplements that low $ amount and boosts the $185/month to an amount closer to ones pay if not disabled.

If there is a 1 month “waiting period” before any benefits start, what advantage would a crewmember have by starting the disability period with a lower sickbank?

Would a “loss of medical” event like a broken ankle be different than being diagnosed with “the big C”. Of course I am talking about Chlamydia.
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Old 06-01-2021 | 02:30 AM
  #77  
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I think you’re correct in the minimum number of days before STD kicks in but I understand it still uses sick and possibly available vacation time before tapping into mutual aid. For that, it would be better for the individual to have a low sick bank so he starts taking mutual aid faster - unfortunately that comes out of the pocket of everyone else who participates in the MA program.
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Old 06-01-2021 | 06:02 AM
  #78  
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Yes, that 30 days till come sooner. Take the extra savings from the sick bank refund and save it for that 30 days. As for mutual aid, yes that's correct.
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Old 06-01-2021 | 08:05 AM
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Originally Posted by 767pilot
Yes, that 30 days till come sooner. Take the extra savings from the sick bank refund and save it for that 30 days. As for mutual aid, yes that's correct.
Cash out the sick bank and use it as a backup for that 30 day waiting period. Not a bad idea. Thanks.
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Old 06-01-2021 | 08:11 AM
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Originally Posted by 767pilot
Yes, that 30 days till come sooner. Take the extra savings from the sick bank refund and save it for that 30 days. As for mutual aid, yes that's correct.
With this strategy I would recommend waiting till one upgrades to up the value of all the banked sicktime from F/O Payrates to Captain Payrates. And cashing out also means your banked hours do not go up in value with the annual pay increases from the contract extension.
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