Airlines Retirement

C

ComplexHiAv8r

Well-Known Member
How is retirement done at the airlines? Is it the same as other industries? In my industry, either you just have a 401K (or similar), but some do still have pensions. Once vested (what is it with an airline, normally 5 years in Engineering). The do basically 50% average pay last 5 years with 70 points (age + years service) and 70% with 85 points.

I am wondering that if pensions were still in at some airlines, how the points were done as I am already at 40 points.

Thanks in advance
 
At Delta you are vested after 5 years and when they figure you retirement pay they take the 3 best years of pay out of the last 10. That is for non-pilot group. Not sure if pilots are done the same way. We also have a 401K/A.
 
I fell really badly for anyone that is counting on any airline, except perhaps Southwest, to pay them a pension. Any of the younger pilots just starting out here please get your own 401k or Roth IRA. Reading stories about people who put in 30+ years just to be told by some executive sorry, it didn't work out, as he bails w/ his golden parachute.....

Anyway, dont let it happen to you. Take charge of your own retirement, then at least you can kick the sob's a$$ who's responsible if you end up eating spam from years 61-90.
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If my mind serves me correctly, Southwest never has had a pension for employees. 401K and stock options. The reason many of their senior pilots are doing so well is that they have been there almost since the beginning so their options are worth a lot of $$.
 
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