Can someone explain how the pension for ATC is currently calculated?
I have no idea how pensions work, because they stopped existing anywhere else in the industry even before I entered the workforce. Do you receive it until you die? I keep on hearing that govt pensions are pretty secure, but then again I hear this from fellow pilots so I don't know how reliable it is.. I guess we are used to zero security so anything that resembles security sounds good to us.
Also, I understand there is a separate 401k-like plan. How does this work?
I have no idea how pensions work, because they stopped existing anywhere else in the industry even before I entered the workforce. Do you receive it until you die? I keep on hearing that govt pensions are pretty secure, but then again I hear this from fellow pilots so I don't know how reliable it is.. I guess we are used to zero security so anything that resembles security sounds good to us.
Also, I understand there is a separate 401k-like plan. How does this work?