Whats with the 85 number?

[Seatacus]

I''ve heard rumors of some magic 85 number for retirement. Could someone explain if this is fact or fiction. If fact, what is it all about?

 

[cavalier]

Unless you become an executive and receive 30 years seniority the day you start, like certain individuals at the top of this company have received.

 

[Dark Cloud]

I believe you are talking about the retirement at the 85 level. Its your age plus the company time. If you total to 85, some contracts allow you to retire early. Example. You are 56 and have 33 years with the company . That gives you a 89. Being over the 85 number, you could retire early. Many contracts require that you be at least 55 years old to receive medical benefits. Also, the total of 85+ points allows you to collect the pension as if you were at the age of the 62's benefits. Many companies have this plan[:sun:]

 

[Seatacus]

Darkcloud...many thanks[]

 

[diogenes]

Seatacus,

At U, all covered under the maintainence and related contract have this deal.

Fleet - Ha!
CWA - Ha!
ALPA - mandatory retirement, about age 60/62 (the memory is going). It is possible to retire early, don't know the details. It is possible to draw retirement, in some cases, as a lump sum.
AFA - Dunno.

 

[Seatacus]

Diogenes

What a bummer.... I reach the 85 number in three days[(]