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Kristie · September 8th, 2004, 19:08

[ QUOTE ]
So, the pilots want to retire so as to get their pension benefits?

I don't quite get this...Do the pilots get a choice to take their pension as a reduced lump sum if they retire early? Thus depleting the pension fund prematurely? Is the pilot's retirement based off of some sort of percentage of the highest average of their earnings? I'm speculating here...

What is the pilot retirement crisis?

Also, I didn't really hear anything about all of the 'regional' Delta connection carriers. If it's not broke, don't fix it?

[img]/ubbthreads/images/graemlins/confused.gif[/img]

[/ QUOTE ]typically, an early retirement is retiring with a "lump sum" pension amount.. they're essentially going into retirement and yes, it could deplete the fund prematurely but not completely...some see it as a "oh #####, get out before you lose it" and it's usually those over 50 that take early retirement because they want to try and save as much of their accumulated pension as possible.

in a good way, it allows for the seniority list to move upwards in which case, pilots can be hired (or furloughs brought back).

the problem with too MANY early retirements is that if they all happen at once, you can't hire and train enough pilots quick enough to be able to compensate the pilotless routes in which case, the company loses money. it takes 6 weeks to train a brand new pilot (groundschool/sim/testing)... for a pilot to move to a new base, it's usually a 3 day training.. and for a pilot to move spaceships (ie: aircraft), it takes about 3-4 weeks depending on if they also are switching bases...figure 10 in a class and you can really only train 10 pilots within a monthly period, if that....that's one of the reasons the furloughs are being brought back as we speak. I think almost all of the furloughees are back, I know Joey (Doug's friend) has an anticipated class date in october (but isn't sure if he's going to take it yet cuz he's doing good on the corporate side right now).

in this case, 100 or more pilots could easily go early retiree because DL has that many pilots that are within retirement limits. you can't hire & train all 100 pilots all at once and that's where it becomes r e a l l y sticky!

If i have my facts straight on the whole early retirement thing...

I'm not sure how pilot pensions are calc'd.

September 8th, 2004, 19:08	#26
Kristie Big Chief's Woman Join Date: Feb 2001 Location: Scottsdale, Arizona Posts: 19,323 Blog Entries: 3	Re: DELTA CUTS JOBS [ QUOTE ] So, the pilots want to retire so as to get their pension benefits? I don't quite get this...Do the pilots get a choice to take their pension as a reduced lump sum if they retire early? Thus depleting the pension fund prematurely? Is the pilot's retirement based off of some sort of percentage of the highest average of their earnings? I'm speculating here... What is the pilot retirement crisis? Also, I didn't really hear anything about all of the 'regional' Delta connection carriers. If it's not broke, don't fix it? [img]/ubbthreads/images/graemlins/confused.gif[/img] [/ QUOTE ]typically, an early retirement is retiring with a "lump sum" pension amount.. they're essentially going into retirement and yes, it could deplete the fund prematurely but not completely...some see it as a "oh #####, get out before you lose it" and it's usually those over 50 that take early retirement because they want to try and save as much of their accumulated pension as possible. in a good way, it allows for the seniority list to move upwards in which case, pilots can be hired (or furloughs brought back). the problem with too MANY early retirements is that if they all happen at once, you can't hire and train enough pilots quick enough to be able to compensate the pilotless routes in which case, the company loses money. it takes 6 weeks to train a brand new pilot (groundschool/sim/testing)... for a pilot to move to a new base, it's usually a 3 day training.. and for a pilot to move spaceships (ie: aircraft), it takes about 3-4 weeks depending on if they also are switching bases...figure 10 in a class and you can really only train 10 pilots within a monthly period, if that....that's one of the reasons the furloughs are being brought back as we speak. I think almost all of the furloughees are back, I know Joey (Doug's friend) has an anticipated class date in october (but isn't sure if he's going to take it yet cuz he's doing good on the corporate side right now). in this case, 100 or more pilots could easily go early retiree because DL has that many pilots that are within retirement limits. you can't hire & train all 100 pilots all at once and that's where it becomes r e a l l y sticky! If i have my facts straight on the whole early retirement thing... I'm not sure how pilot pensions are calc'd.