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Jim: Did having no income, no medical, and no social security surprise you? Were you caught off guard? You have been in control of this for some time now. If it looked like SWA was not going to provide you with what you needed to retire with you should have negotiated better wages! How many contracts have you been through? You should have addressed this in at least one of them. Or, since you are so darn great, why didn't you take you talents elsewhere? Been a brain surgeon or something?
I have a flightplan for retirement, I want to fly that plan. (BTW, mine has to include NEVER getting any SS) That means you go at 60, and I go at 60. Five more years as costar for me doesn't really help, I just work longer.
Bah ha ha ha ha! If you had brought this up pre-9/11 you would have been crucified by all the people begging for change now (minus LCCs). This is purely about money. I don't hold it against them, I'd be doing the same thing also if I had a family (2 ex's, Bimmer payment, giant mortgage, boat payment) to support. I want it to stay, b/c of my family, whom I plan on spending a lot of time with when I retire at 55. To each his own.BureaucraticI really don't think this is about economics, but rather if the original rule was proper to begin with.
Jim Smyth said:Nope, no surprises at all. Been planning on retirement since I was in my mid to upper twenties when I started my IRA's. I had very wise parents with old school values to learn from.
SWA has a formula where you can turn in part of your sick bank that you accumulated to receive medical benefits until you reach age 65. In our last contract extension they gave us the option to also use those sick trips to bring your wife along for the ride too. My wife is 7 years younger than me so I need alot of sick trips. I should have enough sick trips for me and the wife to go to age 65 medically through SWA in 2 years with what I have accumulated already. Now with that being said what if I get hurt down the road and cant work for a year while out on a medical? I would have to use all my sick trips up and then at age 60 would have nothing left. So then I would have no medical insurance after age 60 and would have a hard time getting it if needed. Thats my big concern. If I have the option to go to 65 then this is a non issue because I will have insurance until 65 and have to just worry about the wife after that.
I have been through 1 contract at SWA. It has lasted 11 years now ( 2 extensions) and has 1 more year to go. They did make improvments to our medical after retirement and also made improvements to our compensation. Since I am assuming that money wont be the big issue this time around (section 6 next year) with whats going on in the industry we may close up a few of those loop holes that we currently have in our contract, medical issues being one of them.
I am actualy not that smart. I am a Average "C" type of a guy is all. But I do have alot of common sense. I am well prepared for retirement at age 60. Going to age 65 would just be a bonus as far as not worring about medical coverage (current conditions) or tapping the retirement nest egg. If in our next contract SWA and SWAPA changes the medical issue for us, I may be retiring earlier than 60. Like I said before, security,rude hotel guests,check rides etc get pretty old after a while.
You are wise to not plan on Socail Security because if you are young it may not be there when you are old. It also may not be there for me or if it is I am assuming it will be a greatly reduced rate especially if you have money saved already. Planning this all out when your young is deffinately the way to go.
Jim Smyth said:Ya, your right. I'm done.
capt_zman said:Spooky, please spare us with your condascending know-it-all attitude. Not all of us "young guys" are young and dumb.
As always, it comes down to the have and have nots. From my point of view, the age 65 thing is a credible threat to not just an upgrade, but to my job. What happens to me and my family? Do I join the list of furloughed guys from (pick an airline) too?
It's pretty obvious that labor costs, whether right or wrong, is a focal point at every airline right now. If we add 5 more years to the top wage scale of the cost structure, what are the consequences in doing so? Let's look a simple cost analysis at my airline regarding retirements at 60 vs. 65:
5 year retirement outlook:
2005 = 69
2006 = 148
2007 = 159
2008 = 155
2009 = 134
Total = 665
Let's assume that 80% are widebody captains (WC) and 20% are narrow body captains (NC). We'll also assume that each captain has a 75 hr per month guarantee. 665 * .80 = 532 WC and 133 NC. We'll also assume that each captain is at the 15 year top of pay scale, so each WC currently makes $206.24 /hr and NC $177.78 /hr.
((75 hrs*206.24)*12 mos)*532 = $98,747,712 per year in salary.
((75 hrs*177.78)*12 mos)*133 = $21,280,266 per year in salary.
So each year it costs my airline $120,027,978 extra in labor costs, which would equate to $600,139,890 over a 5 year period. Also notice that this is just salary, not including insurance, medical costs, or anything else for that matter.
It doesn't take a rocket scientist to figure out that even the most profitable airlines will have a difficult time swallowing an extra $120 million in costs per year and over $600 million over 5 years, especially since these costs currently aren't budgeted. It also doesn't take much intelligence to figure out exactly where the company will seek relief for such costs, just ask some of the other airlines.
So while you and spooky go out and "hit some balls" and not worry about what's going to happen to anyone other than you, you can bet your last dollar that I'm going to exhaust every possible option to make sure this doesn't happen. The airline industry has been victimized by mismanagement for decades, let's not aid in flipping the switch on the rest of the us.
Flopgut said:Our discussion notwithstanding, you're going to leave at 60 under current conditions. I will be fighting to keep it that way.
Boeingman said:Flopgut. You can knock off this generation barrier crap anytime now. Reading your posts reminds me of some folks who are very opportunistic in their views and opinions. For many like myself I view the opportunists mentality just like a scab mentality.
Incidently those in your "generation" had a large part in negotiating our wonderful contract. Those in your generation willingly pay for training and jobs. Those in "your" generation willingly work for poverty wages with a sense of entitlement and SJS abound. I don't recall that happening years ago.
I would think looking back on history those in "my" generation did more to advance pay benefits and working conditions than many coming aboard today. In fact if we hadn't had so many of "your" generation prostituting themselves perhaps management wouldn't of run over all of us with a steamroller knowing no matter what and for how little they will have warm asses to fill the seats.
BTW, before you continue any tirade I don't care one way or another what happens to the age 60 deal. Makes no differnce to me financially or professionally.
Flopgut said:Fascinating Jim, you have thought of everything. I am guessing you are very fastidious and probably an allright person to fly with. (I am guessing too that I would go home from a trip with you exhausted from lectures on FMC technique and the like) I am certain you have exceeded my loftiest goals for myself in almost all aspects of personal and professional life (health, $, career progression, retirement) so don't take this as condescending. I think you personify the selfishness of this issue on the part of your pilot demographic. You indicate as much when you characterize SWAPA contract negotiation. Sure sec 6 is going to be a hard one to improve on for your group. Other SWA types, FOs to be correct, have theorized possible wage cuts in the future. And we know how work ethic is such a core value so don't look for any "soft time" type QOL extras, which have actually been denuded entirely from the passenger flying business. No, for sure this business has changed and it may even effect pilots' careers at SWA, yet you have no apprehension toward making a claim on five extra years at the top for yourself. A "bonus". Don't really need it, but it sure would be nice. The generation behind you will have to work as hard or harder for increasingly less in their careers and your solution to that is letting them work longer? Wow, you're a nice guy. Additionally, this claim that your health insurance issue is the tipping point really grates on me. You can find another job! If you retirement age pilots are so darn experienced and capable then it should be a good one. Matter of fact, if you can get yourself hired at Netjets, I believe they have comprehensive health benefits that are free! So you can keep that young wife of yours, and yourself, fit as a fiddle! That way while you are both out mountain biking and basking in the wealth and health of airline pilot retirement monies coupled with an exciting new career endeavor, you can think of how great the UAL furloughee is going to feel finally getting recalled because pilots retire at 60. Finally being able to get ulcers, chronic back pain, or other injuries treated because they have regular insurance now as a backstop to financial ruin. An artificially aged and tired spouse and kids can all get re-aclimated to life with health care like you have always had. You have a cute little chilling scenario where a health problem post age 60 wipes out your retirement monies. Scary to be sure, but let me ask you this: is that sort of thing any less scary for someone younger and furloughed without insurance? Please don't say its going to be less a problem for them because they have more time left to work and can make it up. This could be a sick child, are you going to tell me they can just have another? It follows your logic!
We have a somewhat "sinking ship" here Jim, do the "women and children" get the lifeboats, or do you need one just for you?
Flopgut said:Other SWA types, FOs to be correct, have theorized possible wage cuts in the future.
K. Marx said:People on here are understandably very wrapped up in how this will affect their specific career. But the real issue is safety and making it to retirement without a violation. Iam sure their will be all kinds of posts about exceptions to the rule, but that is all they are. Just go through any aircraft transition class with people in their late 50's and you will be even more convinced it will hurt safety. Most pilots toward the end of their career will admit it is much harder for them to learn anything new. But they don't seem to recognize their skill in the aircraft is also slipping (even tough it is obvious when they can barely stay awake, or unable to stay awake on all nighters). I have flown with numerous older ca's that say they want to go past 60 because they are as sharp as they ever were. I think they actually believe it. If there truly is no difference then 64 yr olds should be able to fly with 64 yr olds. Clearly their is some sort of acknowledgment their that there is an issue with older pilots. Funny thing is they wouldn't be able to fly with other 60+'s but could still fly with newhires (and even be checkairmen?). Great combination there, old guy who can't hardly fly anymore with a new guy that is unlikely to question him. One thing is for certain though, my workload is much higher when I am flying with a 58yr old with many thousands of hours in the plane than with a 48 yr old with 100 hrs in the plane. I believe the older guys just can't or refuse to see that they are slipping. It seems to be a pretty steep slide from around 55 to 60 in my experience. Can't wait to see how much of one it is from 60-65. This may not be pc, but it is how just about every fo and even most Captains I know feel after years of flying with different age groups. Most people 64 can't even drive anymore, though they also don't realize it. This is just an accident looking for a place to happen.
lostplnetairman said:I personally know of a 50+ pilot who blew the younger guys away in Airbus initial training--that's computers folks!
It's not all about stereotypes. Not everyone at 50 is washed up. Not everyone at 60 is washed up.
HR Diva
ACAFool said:Sounds like those exceptions to the rule Karl was talking about to me. I have been through initial training on many different ac and would strongly agree with Karl. The vast majority of them have a much harder time, and will actually admit it.
lostplnetairman said:Again, let's talk numbers, not your preconceived notions....
HR Diva
ACAFool said:Go ahead with your numbers then. Can you prove we are not right. We all see it, just some won't acknowledge it. People slow down in everything as they age. Their is no reason to think flying skills are exempt from this.
lostplnetairman said:No, I asked YOU to prove the point. You just turned it around and demanded that I prove it.
HR Diva
ACAFool said:But again proof is in the flight deck every day we are out there. And again why would flying skills be exempt from aging.
capt_zman said:I just don't understand how people can think that just because you work for a GROWING company, that this has no effect. The entire airline labor cost model is based upon a fixed pay scale based upon seniority that terminates at 60. Please explain how this won't effect every airline, profitable or not.