US Airways to terminate pilot's pension

[Mr. Irrelevant]

I posted on this a week or two ago. It simply underscores the importance of having guaranteed money (at least relatively). There is frequent bashing of the 401k program at Southwest but that money is the employees to keep. Big difference.

As for so many pension plans being underfunded, that is always the case during downturns in the market. Most plans just two and a half years ago were fully funded or overfunded. If the market were to rise 7% this year and then at the long-term average of 11% the next year, the magnitude of the underfunding of the plans would be far less.

If anything, pension plans should be set up so that companies cannot adjust the amounts they pledge to an employees retirement. I would doubt that the government would ever force companies to maintain a certain cash level in their plans. If so, or if there is something like that on the books, you can bet it's a real small number.


Mr. I.

 

[GuppyPuppy]

I remember flying with a Captain at SkyWest whose father was a pilot at USAir. His Dad retired 7-8 years ago and got a lump sum payout of his A-fund of about $2,000,000!

I was born 30 or 40 years too late!

Cheers!

GP

 

[FlyLawyer]

Pilots with a Plan

Word is we are ramping up the strike-preparedness-com. I'd also suggest to those commuting on US via jumpseat don't cut it too close - on time performance may soon start to suffer!

Yeah, sounds like an excellent idea to get the attention of managment. Show them that you are an irreplacable icon. Better yet, extend the flaps and gear about 10 miles outside of the marker. Expend that fuel. Delete that cash reserve. You have precedent; after all, that's what my Uncle and many of his compadres did when he flew for Eastern. It worked, too. It worked so well that he hasn't flown since 1991. Efficacious? Well, I suppose that depends on the beholder. Just a thought.
On the other hand, we are all too often the victim of our own petard.