Ty Webb
Hostage to Fortune
- Joined
- Dec 10, 2001
- Posts
- 6,524
Some of them did, but others who retired early have been kicking themselves for years now. I knew a 757 captain who retired early at age 52, and got $400,000 in his lump sum. Between the change to Age 65 and a successful merger, he would have been a mid-level 7ER/A330/765/ captain easily making $200,000 or more the past five years, if not more.
For those guys approaching age 60 in 2004/5 timeframe, retiring early and getting the lump sum truly was a no-brainer. For the guys in their early 50s it was a whole other story.
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AirTran hired a couple of dozen early-retirees from Delta; I have flown with many of them. They had a difficult choice to make- take a lump sum in their 50's (I think for most of them it was more like $1M-$2M) and "retire", or keep flying until age 60 and then take a greatly-reduced PGBC benefit in retirement.
Most of the guys we hired were 76ER Check Airmen. It was a difficult choice for them to make, and, after they made their choice, the playing field changed- Age 60 went away, and they would have had another 5 years to fly, but they had no way to factor this in.
These guys, by the way, have been a real pleasure to fly with; true professionals, they did a great job as FO's, and never tried to run the cockpit, or complain about what happened. I have enjoyed flying with them, and when it's my turn to be an FO again, I hope to do it as well as they did for me. . . . Unless you want to screw things up and tell me how I "won the lottery", then you're on your own.
Regds,
Ty
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