US Pilots Labor Discussion

[nevergiveup]

Right. Sure. Everyone loves scabs, don't they?

No. Why would one ask such a foolish question? I can reference you a definition if you wish.

 

[MUTATIS MUTANDIS]

Right. Sure. Everyone loves scabs, don't they?

Ahhhhh That hurts, try again!, but then again AWA was full of them, as for us most of us PAID ASSESSMENTS to ALPA to support good union members only to have them blessed by the UNION(ALPA) and those scabs are now ALPA migs, your right ALPA luvs em!

 

[MUTATIS MUTANDIS]

http://mobile.bloomberg.com/news/2011-09-29/united-pilots-lose-bid-to-delay-operating-rules-in-2010-continental-merger ALPA gotta luv em! Robert SIEGEL sure is busy!

 

[USA320Pilot]

Who is USAPA's General Counsel?

Dear Subscriber,

Update for October 11, 2011

Quick Fact #199: USAPA is under significant financial pressure with no specific General Counsel. Why has the union not informed the pilots of
the deficit spending solution and who is the union's General Counsel?

Link to Article

Recent Quick Fact Updates

Site

Fraternally,

webadmin@unbiasedfacts.org

Share The Facts! We encourage you to forward this email to friends who want to know what's really going on with USAPA.

To subscribe, send a reply message with subscribe in the subject line.

To unsubscribe send a reply message with unsubscribe.

 

[Phoenix]

Right. Sure. Everyone loves scabs, don't they?

Grow up already. 🙄

 

[ggiby]

Dream on. PBGC does not pay out until one is 65 or one quits. At least on the PBGC form letter I saw written to a 57 year old pilot. Right on the front page.

Your continued misinformation (at best) seems pretty silly, right along with your insistence that the 93 means nothing. As if you know anything.

You can get PBGC at 60.... and still work here..... collect PBGC and STill work here.... there are many f/a's doing it as we speak.... and some are even collecting their SS as well

 

[MUTATIS MUTANDIS]

http://www.pbgc.gov/wr/bulletin/info/usairways/bulletin140.html

 

[nycbusdriver]

You can get PBGC at 60.... and still work here..... collect PBGC and STill work here.... there are many f/a's doing it as we speak.... and some are even collecting their SS as well

There are two disadvantages of starting to collect PBGC at 60 if you indeed plan to continue working:

1. Your "pension" benefit is curtailed significantly for the rest of your life. If you qualify for the PBGC maximum, at 60 you collect about $26K per year, forever. If you wait until 65, the annual benefit is about $44K forever. For flight attendants who can keep working till they drop from old age, that is probably an okay way to go. It's an extra 2 grand a month. For pilots who can only hang around another 5 year with pay, it means a huge drop in income at 65, and it stays that low forever (no COLA on PBGC.) There is no need to get into the PC-3 vs. PC-4 comparison. Anyone turning 60 now is PC-4...end of story.

2. I'm not sure what type of medical retirement the flight attendants have, but if a pilot who is collecting PBCG goes out on long-term medical, his/her benefit paid by the company gets reduced by the amount of the PBCG benefit. IOW, If you turn 60 and start collecting PBGC, then have to retire medically at 61, you have just presented that $26K per year to the company treasury until you turn 65. I doubt they will say, "Thank you." But it may be enough to cover a miniscule portion of Doug Parker's bonus, and thereby his beer tab at the country club.

 

[Piedmont1984]

There are two disadvantages of starting to collect PBGC at 60 if you indeed plan to continue working:

1. Your "pension" benefit is curtailed significantly for the rest of your life. If you qualify for the PBGC maximum, at 60 you collect about $26K per year, forever. If you wait until 65, the annual benefit is about $44K forever. For flight attendants who can keep working till they drop from old age, that is probably an okay way to go. It's an extra 2 grand a month. For pilots who can only hang around another 5 year with pay, it means a huge drop in income at 65, and it stays that low forever (no COLA on PBGC.) There is no need to get into the PC-3 vs. PC-4 comparison. Anyone turning 60 now is PC-4...end of story.

2. I'm not sure what type of medical retirement the flight attendants have, but if a pilot who is collecting PBCG goes out on long-term medical, his/her benefit paid by the company gets reduced by the amount of the PBCG benefit. IOW, If you turn 60 and start collecting PBGC, then have to retire medically at 61, you have just presented that $26K per year to the company treasury until you turn 65. I doubt they will say, "Thank you." But it may be enough to cover a miniscule portion of Doug Parker's bonus, and thereby his beer tab at the country club.

So if you begin collecting 26K at 60, you are 150K ahead by 65. If you wait till 65 to begin collecting, you won't recoup that 150K until you're 73.3 years old (150K divided by 18K per year difference between 26K and 44K).

Question: If by some miracle the Pension Investigation actually yields some sort of financial compensation - lets say a bump from PC-4 to PC-3, is it retroactive? IOW, for those approaching 60, would it be prudent to wait for a resolution to the investigation before they begin collecting?

 

[Reed Richards]

So if you begin collecting 26K at 60, you are 150K ahead by 65. If you wait till 65 to begin collecting, you won't recoup that 150K until you're 73.3 years old (150K divided by 18K per year difference between 26K and 44K).

Obviously a personal decision, both you and NYC present logical options.

I have a wife much younger than me, and the longer I wait the better her cut. I have not looked at my statement from the PBGC in years, but I believe it is a very big hit on monthly income to protect her for life.

Unless I have to, and even if I don't do the survivor option, I will wait as long a possible to start collecting.

I have forgotten..does the monthly amount still go up PAST age 65 if you don't take it? Or is it locked in at the 44K? If they raise the flying age even more, this might be relevant.

RR

 

[aquagreen73s]

I have a wife much younger than me,

No wonder you have no money. Expensive raising a family, twice.

 

[BoeingBoy]

Question: If by some miracle the Pension Investigation actually yields some sort of financial compensation - lets say a bump from PC-4 to PC-3, is it retroactive?

Since the classifications are set by law and the terms of the terminated plan, I wouldn't count on anyone getting bumped up a PC level. To be PC-3 you must have been at least 53 the day the plan was terminated. If you weren't 53 when the plan was terminated you're a PC-4. It's basically as simple as that. I think there may be a requirement that you were vested in the plan on the day it was terminated, but I'm not sure about that.

I would suspect the answer would depend on what kind of compensation and who got it. If any money went to the PBGC it could affect the benefit of some PC-4's since there'd be more money for the PBGC to hand out but it'd take pretty large sums of money to make much difference. If it went to individuals, it probably wouldn't affect the PBGC payments.

Jim

 

[USA320Pilot]

deleted

 

[767jetz]

...due to the inevitable corporate transaction (not a merger) with AMR.

Gosh, you gotta laugh at this guy.

When it benefits the East to do so, we all must call it a corporate transaction (not a merger), implying that US is in the driver's seat and imposing the terms on their prey. Except when another company rescues US from the grave (AWA) or purchases it outright with a pre-nup (UA in 2000). In that case all the talking heads around here scream that it's a MERGER and nothing less... not a transaction... not picking up the pieces of an almost defunct airline... not an acquisition.

Complete BS hypocrisy.

 

[MUTATIS MUTANDIS]

Gosh, you gotta laugh at this guy.

When it benefits the East to do so, we all must call it a corporate transaction (not a merger), implying that US is in the driver's seat and imposing the terms on their prey. Except when another company rescues US from the grave (AWA) or purchases it outright with a pre-nup (UA in 2000). In that case all the talking heads around here scream that it's a MERGER and nothing less... not a transaction... not picking up the pieces of an almost defunct airline... not an acquisition.

Complete BS hypocrisy.

Sorta like CAL saving UAL, gotta get goin if your going to have that JCBA by years end! MM!