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CAL inching towards ceasing lump sum option

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And the eventual value of the Lifetime Annuity "option" with any airline in this day is probably near zero.

CAL declares bankruptcy, hands it over to the PBGC, then the government pays a dime to the dollar, or will zero it out because of the deficit.

So Larry and company are fiendishly twirling their imaginary mustaches at the great idea of bankrupting the airline and screwing shareholders (including them) just to terminate the pilot pensions. Come on dude, try living in reality a touch...
 
So the question is what next?

Is there going to be a mass exodus?

Or has the over 60 crowd just decided to stay till 65 now that they have too?

Considering the stupidity of those who did not take the bonus program and the retirement when they could have, it seems likely no one will leave.
 
If they end the lump sum, think how far the money will go? What's a guy going to do after retiring from CAL at 65: Live very long? I doubt it. Of course I forgot...how exactly do you divide that up between 2-3 wives?
 
If they can afford to get out now, invest some or all of their lump sum in the market, sit on it for a few years, I think they will make out quite nicely. That’s what I’d do if I were in their shoes! They should be able to double if not triple the current value of their lump sum.
 
payback is a bitch. most of these guys that crossed the line in the 80's got the bonus of screwing the junior guys one more time, but now the tide has changed. they should run while they have the chance or get used to living on an annunity.


they can work until they are 65, if they can keep a medical.


Too frickin bad. you had a chance and you blew it, larry will have the last laugh
 
I guess we have the new breed of opportunists piping in on this thread.

The junior vs senior mentality has never accomplished anything anywhere. What would some of you be saying if those that deserve and are owed the lump sum were politicking to eliminate scope to save their pensions?
 
That's just it..... Politicking for scope elimination to save pensions by the guys that are now retired is what seemed to start the ball rolling many years back wasn't it?
 
What would some of you be saying if those that deserve and are owed the lump sum were politicking to eliminate scope to save their pensions?

Good luck with that. The pilots that have anything significant in the A plan are outnumbered by 3 times the number of pilots who have nothing or almost nothing in the A plan. There are over 1500 pilots (30% of the pilots) that have been hired since 2005, and they do not participate in the A plan.
 

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