How Bad Will Peak Be?

[falcon back]

The pilots may have a different plan being unionized for all I know. But couriers could only get a maximum 50% of their highest annual average pay if they worked at least 25 qualified years and retire at 60 or later. Pension payouts seem over your head. No about 55% farty. You might get a little more if you wait according to Fred but you won't get about 80%. But you do you.

I said about 55%, close enough to 50% to most people. By waiting 5 years, my pension will go up 50% over what it was when I retired. That will give me about 80% of my eligible salary during my Traditional years. You refuse to accept facts about the Traditional growth but that is your loss, my gain.

 

[vantexan]

I said about 55%, close enough to 50% to most people. By waiting 5 years, my pension will go up 50% over what it was when I retired. That will give me about 80% of my eligible salary during my Traditional years. You refuse to accept facts about the Traditional growth but that is your loss, my gain.

You can't prove that but if you want to believe it go ahead. In the end you'll realize you could have had the money coming in 5 years earlier and since you're getting by now you could have invested all of your traditional pension and would have created a nice nest egg. But you do you.

 

[falcon back]

You can't prove that but if you want to believe it go ahead. In the end you'll realize you could have had the money coming in 5 years earlier and since you're getting by now you could have invested all of your traditional pension and would have created a nice nest egg. But you do you.

LOL
You sleep in your car and you want to give me financial advice. It's just like delaying Social Security. You delay drawing it, your monthly payments go up so much that it only takes a few years to recoup your lost years. From that point on, you are $ ahead. Social Security goes up about 8%, Traditional goes up about 10% and Portable goes up 4%. Very good return just by waiting a few years. Create a nice nest egg? I did that while I worked, now it's time to enjoy it.

 

[vantexan]

LOL
You sleep in your car and you want to give me financial advice. It's just like delaying Social Security. You delay drawing it, your monthly payments go up so much that it only takes a few years to recoup your lost years. From that point on, you are $ ahead. Social Security goes up about 8%, Traditional goes up about 10% and Portable goes up 4%. Very good return just by waiting a few years. Create a nice nest egg? I did that while I worked, now it's time to enjoy it.

Traditional pensions don't work that way and never have. Ours doesn't even have an annual COLA. Takes 25 years of hard work to give you a 50% pension yet for some reason you think you'll almost double it in 5 just waiting. I'm actually trying to help you but you're too stupid and stubborn to admit it. That'll turn out well. At the end of this will be a realization that you denied yourself 5 years of payments. And you laugh at me!

 

[falcon back]

Traditional pensions don't work that way and never have. Ours doesn't even have an annual COLA. Takes 25 years of hard work to give you a 50% pension yet for some reason you think you'll almost double it in 5 just waiting. I'm actually trying to help you but you're too stupid and stubborn to admit it. That'll turn out well. At the end of this will be a realization that you denied yourself 5 years of payments. And you laugh at me!

You are correct. There is no COLA while you are receiving it but there is a 10% annual increase for those that wait a few years before taking it. Once again, why would anyone take financial advice from a person who sleeps in their car? If you were so savvy on financial matters, you would be living the good life like I am. In a few years, I will be getting a 80% pension check and you will still be struggling. Who will be laughing at who?

 

[bacha29]

You don't know what you're talking about.

The max pension benefit for a FedEx pilot is $130,000. That's if he works 25 years and had at least 5 years of earnings of $260,000. If he's lucky he started with FedEx in his early 30's, so he'll be between 57 and 60 if he retires at 25 years of service. He goes to ABX or Atlas and starts at the bottom of their pay progression, making about half what he made at FedEx.

Soooooooo... he quits a job making close to $300k, starts collecting a pension of $130k, takes a job doing the SAME THING (with no seniority or any of the perks that come with it) for less than half the pay of the FedEx job that he left. Pension and new salary combined, he's making less than if he stayed.

Brilliant plan, Falcon. That's why you have so much credibility here.

Indeed. You can't just walk off one company's aircraft then just climb into the cockpit of another company's aircraft and just fly off. There's a series of testing and recertification that has to be completed before hand. Going through all that just to be route bottom feeder for an indeterminable number of years doesn't seem worthwhile because about the time you get some stripes and access to decent route chum you're at mandatory retirement age anyway.

 

[vantexan]

You are correct. There is no COLA while you are receiving it but there is a 10% annual increase for those that wait a few years before taking it. Once again, why would anyone take financial advice from a person who sleeps in their car? If you were so savvy on financial matters, you would be living the good life like I am. In a few years, I will be getting a 80% pension check and you will still be struggling. Who will be laughing at who?

I haven't been traveling in my car for over 7 months. Heading to Argentina in January. And you are completely wrong about what you'll be getting on your pension. That's not financial advice. That's pointing out the obvious.

 

[thedownhillEXPRESS]

Traditional pensions don't work that way and never have. Ours doesn't even have an annual COLA. Takes 25 years of hard work to give you a 50% pension yet for some reason you think you'll almost double it in 5 just waiting. I'm actually trying to help you but you're too stupid and stubborn to admit it. That'll turn out well. At the end of this will be a realization that you denied yourself 5 years of payments. And you laugh at me!

Yeah I don't like to get into the middle of these but Falcon is WAYYYY off.
The max was 25 years times 2%. There is no formula where that number gets above 50%.
Not only that but the wages that it is based off were frozen about 12 years ago, the traditional plan loses value in inflation adjusted dollars every year you don't start drawing on it once eligible.

 

[falcon back]

Yeah I don't like to get into the middle of these but Falcon is WAYYYY off.
The max was 25 years times 2%. There is no formula where that number gets above 50%.
Not only that but the wages that it is based off were frozen about 12 years ago, the traditional plan loses value in inflation adjusted dollars every year you don't start drawing on it once eligible.

You are way off. You indeed gain value every year you wait to draw. Look under Key Dates on the retirement website. There is a paragraph dedicated to explaining the increase. Doesnt matter who understands or believes the retirement program or not. It is there for us that do and that's all that matters to me.

 

[falcon back]

I haven't been traveling in my car for over 7 months. Heading to Argentina in January. And you are completely wrong about what you'll be getting on your pension. That's not financial advice. That's pointing out the obvious.

Yep. While you live barely above poverty, I reap the benefits of an excellent retirement plan. AND I will be awaiting to begin my increased Traditional when I decide to draw it. Sweet

 

[falcon back]

Indeed. You can't just walk off one company's aircraft then just climb into the cockpit of another company's aircraft and just fly off. There's a series of testing and recertification that has to be completed before hand. Going through all that just to be route bottom feeder for an indeterminable number of years doesn't seem worthwhile because about the time you get some stripes and access to decent route chum you're at mandatory retirement age anyway.

With as many hours of cockpit time our pilots have, the shortage of pilots world wide, I am sure it would not take long to be in control of an Amazon contracted plane. I am sure you are as versed in pilot training as you are in the stock market

 

[bacha29]

With as many hours of cockpit time our pilots have, the shortage of pilots world wide, I am sure it would not take long to be in control of an Amazon contracted plane. I am sure you are as versed in pilot training as you are in the stock market

It's called "seniority" and it still will take awhile to get enough of it to enable a person to gain the stature and choice routes you think that a ex Fedex pilot is automatically be entitled to. And given that you're nothing but a corporate apologist and scrotum sanitizer seniority and tenure in their designed form is something you know nothing about.

 

[MAKAVELI]

You are way off. You indeed gain value every year you wait to draw. Look under Key Dates on the retirement website. There is a paragraph dedicated to explaining the increase. Doesnt matter who understands or believes the retirement program or not. It is there for us that do and that's all that matters to me.

If you are waiting to collect your retirement for a few extra $ you are both a fool and didn't plan your retirement very well.

 

[vantexan]

Yep. While you live barely above poverty, I reap the benefits of an excellent retirement plan. AND I will be awaiting to begin my increased Traditional when I decide to draw it. Sweet

My $1840 in Argentina is the equivalent of about $7000-$7500 a month in the U.S. I'll manage.

 

[vantexan]

You are way off. You indeed gain value every year you wait to draw. Look under Key Dates on the retirement website. There is a paragraph dedicated to explaining the increase. Doesnt matter who understands or believes the retirement program or not. It is there for us that do and that's all that matters to me.

Post it verbatim and let's see.

 

[falcon back]

If you are waiting to collect your retirement for a few extra $ you are both a fool and didn't plan your retirement very well.

Says you. Why not pull from a conservative 401k getting 7 or 8% while your pension is growing by 10% a year. By the time I hit 65, my Tradional will go from about $1850 a month to almost 3k a month. Pretty sweet

 

[MAKAVELI]

Says you. Why not pull from a conservative 401k getting 7 or 8% while your pension is growing by 10% a year. By the time I hit 65, my Tradional will go from about $1850 a month to almost 3k a month. Pretty sweet

Yeah nobody is buying that. Keep posting fake numbers if it makes you feel better about your poor decisions about retirement.

 

[59 Dano]

LOL. There are several layers of their retirement plan according to the firm that several hundred pilots have trusted their retirement to. These are separate from their 401k. You are now an expert on pilot pension based on your career in the custodial division of the company. If I had to chose between my financial advisor or some lackey who has been proven wrong several times on which one is correct, my financial advisor would be the winner. I have 1 question. A courier hits a boat trailer and the customer saw him do it, does the courier call his manager or take your advice and deny all knowledge of the event. I bet you change your answer AGAIN. Have a nice day.

"The Traditional pension for all other employees topped out at almost 55%. You actually believe pilots got less of a % of their salary than the rest of the company? Nice try though."

Section 28 of their contract, bud. Not my problem if you don't want to accept it. But feel free to cite all these imaginary financial guys and their imaginary charts they showed you as you duck and dodge and move the goalposts. Or just stick to your strong suit: station policy on who can post what on the bulletin board, or maybe the protocol for stocking the cooler with Gatorade when it's hot outside.

 

[59 Dano]

The pilots may have a different plan being unionized for all I know. But couriers could only get a maximum 50% of their highest annual average pay if they worked at least 25 qualified years and retire at 60 or later. Pension payouts seem over your head. No about 55% farty. You might get a little more if you wait according to Fred but you won't get about 80%. But you do you.

He already said that pilots get a higher percentage of their pay via their pension than couriers do, and that's despite the pilots' contract saying otherwise.

 

[falcon back]

"The Traditional pension for all other employees topped out at almost 55%. You actually believe pilots got less of a % of their salary than the rest of the company? Nice try though."

Section 28 of their contract, bud. Not my problem if you don't want to accept it. But feel free to cite all these imaginary financial guys and their imaginary charts they showed you as you duck and dodge and move the goalposts. Or just stick to your strong suit: station policy on who can post what on the bulletin board, or maybe the protocol for stocking the cooler with Gatorade when it's hot outside.

You never answered my question. A courier backs into a boat trailer. Do you A: Take Dano advice and lie about it and risk termination.
B: Notify your manager even though there was no damage.