CAL System Bid Out

[Cobraair75drvr]

The pension was frozen at NWA also. Hopefully we will see an uptick in early retirements after our targeted defined contribution goes into effect Jan 1st. The very senior guys are going to get very little, with some getting 0% I think. Right now everyone is getting 5% until they can produce/implement the targeting. Once this happens most of the senior guys (757 and above) with 20-25 yrs are not coming to work for much more than 1000-1500/month over what their pension will pay..

Actually I think you are incorrect, speaking of the age 65 rule change at CAL. If age 65 happens it will provide 5 yrs time for many pilots to make up for lost salary by working 5 extra years. However, at CAL the pension was frozen and not lost. Therefore a pilot will not benefit by working to 65 b/c of the mortality tables used by the pension. Basically working past 60 may not benefit a CAL pilot b/c it starts to devalue the retirement payout. So for those who decide to work past 60 would have no reason to work past 62 (the approx age where the amount earned and amount lost from the pension are almost equal and after that you lose more from retirement than you could make working.)

So many airlines will surely stagnate UAL, AA, DAL, NWA, SWA with 65, it won't be nearly as stagnant at CAL&AA.

 

[N tha jungle]

..I think you need a snickers. Not going anywhere for a while..Thats you.

Funniest thing I've heard all day. Yeah, I know it's early.

 

[N tha jungle]

deleted

 

[EWR_FO]

Any word on the "snapshot" before it closes out Aug 7?

It's out, most junior CA 3947. I think that is somewhere in the September of '05 range.

 

[Jmoney]

Moron!

No kidding.

I think it is about to get very bad and stagnant at CAL very, very shortly.

As soon as the age 60 rule is changed, I pity the pilots just recently hired at CAL. I pity the fools LOL

-I pity the fact that you "turned CAL down." Sounds like a damn good call on their HR dept's part for talking you into "turning them down"

-You really need to get together with "instructordude" you guys definitely fell from the same tree (or maybe out of the same toolbox.)