CAL and GATT rate change

[skywdriver]

Anyone know when the rate changes again? Also, I think at the same time there is another blended rate calculated with a higher percentage using the 30 year corporate bond rate if I am not mistaken. Either way as I understand it, it will be another hit to the pension lump sum. Not sure how much, but more than likely there will be some retirements out of this. Seeing as how the latest system bid didn't include these retirements, I am curious when they might occur.

 

[ATRCA]

Anyone know when the rate changes again? Also, I think at the same time there is another blended rate calculated with a higher percentage using the 30 year corporate bond rate if I am not mistaken. Either way as I understand it, it will be another hit to the pension lump sum. Not sure how much, but more than likely there will be some retirements out of this. Seeing as how the latest system bid didn't include these retirements, I am curious when they might occur.

Honestly, we've been hearing about all these guys leaving because if this and that and frankly, it's all complete BS! Those guys aren't leaving. They're making six figures, working as much as they can and you ain't gonna pry that money out of their hands no matter what you do.

Nothing is going to occur. Nothing is going to change. They will retire when they are 65, dead, or just bored.

 

[CitationLover]

Most corporate bond interest rates are down this time versus last year. Corporate bond rates had an unnatural spike last fall due to the banking crisis. They are finally returning to more normal values.

Government bond rates are the exact opposite. With the MASSIVE increase in debt and the US credit rating taking a hit, rates will only go up. Roughly 0.20% up from last year at this time.

 

[WolfManPack]

We'll See

Honestly, we've been hearing about all these guys leaving because if this and that and frankly, it's all complete BS! Those guys aren't leaving. They're making six figures, working as much as they can and you ain't gonna pry that money out of their hands no matter what you do.

Nothing is going to occur. Nothing is going to change. They will retire when they are 65, dead, or just bored.

While I appreciate your post, I would like to mention that approaching the last rate change, nearly 70 pilots decided to pull the trigger. Not insignificant in my opinion.

If the company were to lose another 60 - 70 pilots heading into summer, there is simply no way to avoid canceling flights with the increase in flying that has been announced to date.

We'll see!

 

[jonjuan]

If the company were to lose another 60 - 70 pilots heading into summer, there is simply no way to avoid canceling flights with the increase in flying that has been announced to date.

We'll see!

They'll let them "retire" but pay them extra to keep flying through the summer.

 

[WolfManPack]

Hmmm

They'll let them "retire" but pay them extra to keep flying through the summer.

If they try this I would expect our union to put a stop to it STAT!

 

[densoo]

They'll let them "retire" but pay them extra to keep flying through the summer.

Exactly right. The LTVJM (Long Term Voluntary Junior Manning) plan is about to be pulled off the shelf. Anyone who puts in retirement paperwork will be offered 150% pay starting on the date of their desired retirement date through the retirement date the company asks them to extend to. Cheaper than bringing back furlough/hostages. Estimated acceptance rate: 100%.

 

[nimtz]

Honestly, we've been hearing about all these guys leaving because if this and that and frankly, it's all complete BS! Those guys aren't leaving. They're making six figures, working as much as they can and you ain't gonna pry that money out of their hands no matter what you do.

Nothing is going to occur. Nothing is going to change. They will retire when they are 65, dead, or just bored.

Agreed. When I talk with these guys about looming FED actions, they just kind of look out the window and quietly agree that their A fund will decrease. Bottom line, most of them enjoy the perks of seniority too much and don't know what else too do to get out of the house.

But take heart +60 crowd, Air New Zealand just had a domestic captain pass 70. Where are you Mr Emens!?! In a few years a lot of guys will need your skills when they realize age 65 is discrimination!

 

[100/hour/5y]

Just flew a SJO overnight with a 62 year old Capt... Senior guy... Likes SJO for the Blue Marlin Bar... Anyways, he stated that he will fly until 65 because he likes hookers every month... He alternates between Lima and SJO... Real classy Guy... yep 83 hire
Loser! Cal is his life!
CAL sucks and is just a job.... Wake up!

 

[jenks]

If they try this I would expect our union to put a stop to it STAT!

I have yet to see CALALPA stop anything that management trys to do. CAL furloughed pilots will only return when a new contract is signed. If there were to be a merger, furloughed pilots would likely never return. This has become my reality!