Here's from the Summary Plan Description:
For participants who become Disabled on or after January I, 2003, your Plan benefits will be offset,
dollar-for-dollar, by any of the following amounts you may receive from other sources:
l1li Income from other employment that exceeds 50% of your Average Monthly Earnings prior to
the date your Disability commenced;
III Disability benefits paid or payable under federal Social Security law, even if you fail to apply for
Social Security benefits when you are eligible;
l1li Disability benefits paid or payable under any workers' compensation law, or other similar
benefits paid or payable as a result of occupational hazards;
III Disability benefits paid or payable under any federal or state law;
III Severance pay;
l1l Retirement benefits from any retirement program; [note: this would include PBGC if you start at 60....FYI]
III Disability benefits from no-fault auto insurance that exceed 100% of your Average Monthly
Earnings prior to the date your Disability commenced;
III Group disability benefits from other employers that exceed 100% ofyour Average Monthly
Earnings prior to the date your Disability commenced;
III Any lump sum payments, settlements or distributions from any ofthe programs listed above, or
from any other source, that are made on account of the same Disability for which Plan benefits
are being paid, to the extent that these payments, settlements or distributions exceed 100% of
your projected Average Monthly Earnings (determined prior to the date your Disability
conunenced) over the remainder ofyour career as a pilot.
Your other income (excluding income from passive investments), when combined with your benefit
under the Plan, cannot exceed 100% of your Average Monthly Earnings determined prior to the date
your Disability commenced.
Cheers.
