Age 66?

[AAsRedHeadedbro]

Fine.

Truce, then. OK?

 

[KingAirer]

What about the ATP age 23 rule? Is this also age discrimination? 16 to solo? 17 for private etc. etc. etc.?

 

[mkingmei]

whats going to happen is that the "peak earning years" are going to be from 62 to 66, so nothing is going to change, it is just going to shift. It almost sounds like another way for the company to beat us down, work us more and pay us less. Fight for fair pay and work rules and don't let them hold us down any more.

 

[N2264J]

Thanks for the insight

Many defined benefit pensions have a clause that penalizes you for early retirement. At NWA your pension is penalized 4% for every year that you retire early. If you were to retire at 60 when the mandatory age was 66 you would take a nearly 25% hit on your pension benefits (six years of compunded deductions).

I see.

So, they can retire at 60 if they want to and instead of pulling down $10,000 a month it's "only" $7,500. That's more than I make in a month flying 82 hours as a Captain.

Come to think of it, I'm not sure these defined benefit plans are economically sustainable with people living longer, healthier lives and the mainline pilot groups stagnated or shrinking. Sooner or later, the plan reaches a point of diminishing returns and with all the legacy retirement plans now grossly underfunded, probably sooner.

I suspect these retirement shortfalls will be addressed in respective bargaining anyway. No matter, the decision to leave or stay at 60 should be a personal choice if you can pass your proficiency check and medical.