Attention all US Airways Pilots With Capped Retirement From PBGC

[usa1]

Can one of you SR. US Airways Pilots tell me why your pension was capped by the PBGC at $37,500 per year when US Airways went broke ... and why public sector pensions are not being capped the same way since the United States is now broke.

Kansas Promise (KKP) remains committed to opposing House Bill 2311

PBGC

No Public sector employee from the President down to a public sector Sanitation Worker, including Senators, Congressman, Teachers, Fireman, Military Officers etc. should receive more than a $37,500 per year pension with the current economic situation.

Are they better than you? After all we (private sector) have to pay their salary & pensions. Basically didn't you loose yours so they can keep there's.

 

[700UW]

Because their pensions werent terminated and they have contracts.

Why did Dave Siegel walk about with a $6 million pension and ours was terminated?

That is where your outrage should be.

And I left as a stock clerk and my pension is reduced just like everyone else whose pension was terminated.

 

[usa1]

Let me get this right 700.

From 1985 - 2000, governmental over site purposely drove 80 % of this industry into BK, destroying a "private sector" career, so the flying public could have cheap airline tickets .... and you (labor) lost everything ....

Now the country is broke and congress is coming back to YOU for your SS & Medicare .... and all you care about is Dave Siegel? ... You have been drinking to much union cool aide? Or you're married to a government employee.

Why should our pensions go to the PBGC capped, while the public sector (whom we pay) live big ....... untouched? Can you say SCAM!

At this point may be it's time for us to default as a nation and start over like a third world country.

 

[700UW]

Ok so where is the PBGC suppose to get the money if there is no cap?

 

[usa1]

Right now many public sector employees are retiring at age 50 at 80% of their regular pay.

LIEUTENANT COLUMBO, the finest fictional detective in the history of the Los Angeles Police Department, had a knack for instantly identifying the culprit. Were he investigating the threat to American state finances, he would be looking at members of his own force. One California mayor estimates that the effective cost of employing each police officer and fireman is $180,000 a year.

That sum is not their take-home pay. For police and firefighters, the big costs occur when they stop working—retirement at 50, combined with inflation-linking, health benefits and lump sums for unused sick leave. Some might not begrudge perks given to those who put their lives on the line for fellow citizens. But California is also shelling out fortunes to retired state and municipal managers; more than 9,000 have retirement incomes of over $100,000 a year. Across America, states have been handing out such goodies for years (see article). Most public-sector workers are still being promised retirement incomes based on their final salaries, at a time when private companies have been retreating from such commitments.

http://www.economist.com/node/17251840

The country is broke, just like US Airways was. .... you want your taxes to pay these guys like this? This is going on all over the country. Just the tip of a massive iceberg ..... are there guys any better than you? WHY IS A US AIRWAYS PBGC PENSION CAPPED AT 35,500 WHILE THESE GUYS LIVE BIG ON OUR DIME?

Before they start cutting OUR SS and medicare. All public sector pension should be capped at 37,500 and no one should retire at age 50?

http://www.economist.com/node/17248984

 

[MUTATIS MUTANDIS]

Right now many public sector employees are retiring at age 50 at 80% of their regular pay.



http://www.economist.com/node/17251840

The country is broke, just like US Airways was. .... you want your taxes to pay these guys like this? This is going on all over the country. Just the tip of a massive iceberg ..... are there guys any better than you? WHY IS A US AIRWAYS PBGC PENSION CAPPED AT 35,500 WHILE THESE GUYS LIVE BIG ON OUR DIME?

Before they start cutting OUR SS and medicare. All public sector pension should be capped at 37,500 and no one should retire at age 50?

http://www.economist.com/node/17248984

USAPA our new union, has ongoing litiigation with the PBGC, something ALPA were sure will be drawn into sooner than later! As for now! "NO COMMENT!"

 

[700UW]

Because there pensions were not terminated, is that too hard to understand?

Your comparing apples to oranges.

 

[john john]

When the pilots pension plan was terminated retirement age for commercial pilots was age 60 I believed the PBGC did not recognizes full retirement at age 60 so therefore they are penalized

 

[700UW]

Yes they are and that is unfair.

 

[767one]

Ok so where is the PBGC suppose to get the money if there is no cap?

Do what they always do print more money! I don't care where they get it from as long as we get it. Same for SS and medicare. The money would be there if they would just administer it properly.

Bob

 

[767one]

When the pilots pension plan was terminated retirement age for commercial pilots was age 60 I believed the PBGC did not recognizes full retirement at age 60 so therefore they are penalized

Also they take 3 years from your age and years of service. The Soaring Eagles (retired pilots) have a lawsuit in progress over this and 10 or 12 other issues with the pbgc. These lawsuits are looking pretty good and it will be an interesting year.

Bob

 

[700UW]

Do what they always do print more money! I don't care where they get it from as long as we get it. Same for SS and medicare. The money would be there if they would just administer it properly.

Bob

The pensions are not funded by tax dollars, they are funded by a tax each owner of a defined benefit plan pays them, it is also funded by assets such as stock from companies that have to compensate the PBGC to make up for the short fall.

 

[signals]

Let me get this right 700.

From 1985 - 2000, governmental over site purposely drove 80 % of this industry into BK, destroying a "private sector" career, so the flying public could have cheap airline tickets .... and you (labor) lost everything ....

Now the country is broke and congress is coming back to YOU for your SS & Medicare .... and all you care about is Dave Siegel? ... You have been drinking to much union cool aide? Or you're married to a government employee.

Why should our pensions go to the PBGC capped, while the public sector (whom we pay) live big ....... untouched? Can you say SCAM!

At this point may be it's time for us to default as a nation and start over like a third world country.

Local, County, State, Fed, what public sector are you referring to? We are dealing with a world market nowadays and the competition is what is regulating your wage, pay, pension, etc. If China can do it for cheaper, we all get screwed.

 

[signals]

Right now many public sector employees are retiring at age 50 at 80% of their regular pay.



http://www.economist.com/node/17251840

The country is broke, just like US Airways was. .... you want your taxes to pay these guys like this? This is going on all over the country. Just the tip of a massive iceberg ..... are there guys any better than you? WHY IS A US AIRWAYS PBGC PENSION CAPPED AT 35,500 WHILE THESE GUYS LIVE BIG ON OUR DIME?

Before they start cutting OUR SS and medicare. All public sector pension should be capped at 37,500 and no one should retire at age 50?

http://www.economist.com/node/17248984

Again, who are you talking about in the public sector? Early retirement incentives are offered but unless you have worked in the public sector for at least 25 years at 50 you won't see more than 10-20%. That's why numbers lie. Public sector(in my State) caps 100% at 33 years of service. Back in the day people were hired at 16 years of age! A lot of members had to work until 55 years of age with over 40 years of service.

The 50 at80% must have at least 25 years of service and have no outstanding loans to the system, is what I assume.

 

[LD3]

Are they better than you? After all we (private sector) have to pay their salary & pensions. Basically didn't you loose yours so they can keep there's.

Before you spew stupid any further, I am employed by local government...I am not paid by tax dollars, I am paid by user fees generated by our tenants, NOT YOU!!!! And what the F does public sector have to do with some high paid CEO running your airline into the ground??