CAL Early Out Offer

[densoo]

CO is offering a limited Early Out Plan for all CO U.S.-based employees (not including Puerto Rico) with adjusted service dates of Sept. 4, 1998, or earlier. Additional eligibility and participation criteria are contained in the Early Out Plan document.
Employees must remain active until their last date of work, as determined by the company, which generally will be no later than Sept. 4, 2008 and must agree to resign permanently from the company in order to accept these benefits.
Participants in the Early Out Plan will receive unlimited SA5A travel passes for use on CO, CO Express, or CO Micronesia for the employee, a spouse or registered domestic partner, and eligible dependents continuing to Sept. 4, 2023. (Parents and travel companions are not included.) Participants in the Early Out Plan will also receive the same level of healthcare coverage, including dental and vision, that they currently have for 12 months after the effective date of their resignation. This continuation of coverage will be available at the subsidized, active employee rate for the first 12 months. After the first 12 months, rates will be available at the unsubsidized COBRA rates for the final six months. If the participants wish to continue medical, dental and/or vision, coverage they will need to elect it. Shortly after the effective date of their Early Out, the participant will receive an Enrollment Worksheet from the Benefits Center that confirms the options. Participants must call the Benefits Center to make the election to continue current coverage at active rates for 12 months followed by six months at regular COBRA rates. The participant may elect to continue participation in the Health Care Flexible Spending account for the remainder of 2008. This Early Out Plan will be available to all eligible employees for a limited time only. Employees who are interested in the plan may wish to consult with an attorney or other expert advisors. Employees must elect to participate by July 28, 2008, to take advantage of the offer.

..............

 

[Wingman10]

Maybe other Airlines will follow.


Note to AMR, follow CO's lead......

 

[lookin4better]

Is there any real incentive here for pilots to leave? or am I missing something?

 

[GIII Instructor]

yes. you get to keep your retirement before a potential BK filing.

 

[CALDC9]

Is there any real incentive here for pilots to leave? or am I missing something?

You just won the $64K question! There is NOTHING
for the pilots. Just the other employees. Good catch!

 

[Patriot328]

Is there any real incentive here for pilots to leave? or am I missing something?

Nope. That will brought up soon, I'm sure.

 

[densoo]

Nope. That will brought up soon, I'm sure.

Have heard they could get the A-Fund lump sum (calculated for early retirement penalty of course), plus 1/2 annual salary from last year of employment.

 

[AA717driver]

AA offered 12 months at 75 hours in 2002.

If they do that again (and the deadline is after my 50th b-day...) I may jump on it.

TC

 

[PHXFLYR]

What??!!!??! .....And leave aviation ???


PHXFLYR