WSJ on SWA/AT Merger

[jonjuan]

The only thing they're talking about is taxing the contributions, not taking the money. Nice try.

For now. Standby if you your "gal" gets elected in '16.

 

[dalad]

How did that workout for the bankruptcy guys in the last 10-12 year? PBGC? They got basically nothing.

vs. SW 9.3% plus profitsharing.....and stock options (for those in the same era). The differences are stark.

Does SW need to do better? Of course, but to say other carriers over the same years did fine with pensions is ludicrous.

Red, your info is wrong. The pre BK contract froze the DB pension for DAL pilots. Mine was frozen with a $ 620k lump sum and a $6k per month annuity. A DC plan was set up at that time along with the 401k match of 2%. Post BK we received the plan which we have now. What did I receive? I got the full MPPP plan at 105k which was rolled over inta an IRA worth just north of 200k today. I also received a bankruptcy claim payment of approximately 230k and a bankruptcy note payment of 84k. Some of that money was used to fill pilots up to the 415c limit for two years. So I now sit on a 401k worth 930k today, a rollover IRA worth 200k, and a DC plan that is now worth 480k. That's north of $1.5 million. Lets not leave out the PBGC promise. If I choose to collect at 60, that's $4.2k per month, or $ 6.9 k per month at 65. Add in $2.4k per month for SS and that becomes $9.3k per month at 65. So I would say your numbers are off.

 

[race#53]

Don't count on PBGC if you have income from any other source even SS...check what they did to the EAL guys.

 

[nimtz]

Why waste negotiating capital on retirement? SWAPA can just lobby for Age 70.

 

[Tripower455]

Why waste negotiating capital on retirement? SWAPA can just lobby for Age 70.

It'll take ALPA to get it passed though, like age 65........

 

[dalad]

Don't count on PBGC if you have income from any other source even SS...check what they did to the EAL guys.

I disagree. Not planning on anything from the Government Ponzi scheme either. But, if I get anything from PBGC and SS it will be icing on the cake.

 

[scoreboardII]

Until they're not.....it all may be a mute point

http://online.wsj.com/article/SB10001424127887324050304578412932073225110.html

REVIEW & OUTLOOK Updated April 12, 2013, 12:13 p.m. ET
Now He's After Your 401(k)
The White House pulls a switcheroo on retirement savings accounts.

using the 3% rule, you need just over $7 million to make that amount of coin for a reasonable and prudent 3% rule withdrawl rate.

The president is jacked on this, $3 mil gets you $90,000 a year. Sorry Charlie, take out medical, taxes and food costs and you'll be taking home less than $50,000 with the almighty ones plan.

******************** him.

Thanks to him, my going in plan is to plan on zero percent growth of my investments.

 

[slaquer5]

The only thing they're talking about is taxing the contributions, not taking the money. Nice try.

It's called baby steps . I doubt most of use I'll ever see our SS money owed to us.


Nice try though .

 

[PCL_128]

It's called baby steps . I doubt most of use I'll ever see our SS money owed to us.

Probably true. But then again, I don't think you and I should get it. SS should be treated as a safety net, not as a retirement plan. People with $5 million in a 401k shouldn't be collecting money from the government every month.

 

[slaquer5]

Probably true. But then again, I don't think you and I should get it. SS should be treated as a safety net, not as a retirement plan. People with $5 million in a 401k shouldn't be collecting money from the government every month.

So you and I put the most into SS and we should not get it?

I disagree, but I am sure that will be the quick fix with the goberment .