This story may be true...but I'm going to throw the BS flag. I was a pilot for TWA for a short stint and flew with all kinds of guys hired during and after the Vietnam War. Almost every captain I flew with was a vietnam vet. Anyway...In the late 60's early 70's TWA was the premier airline in the world. You needed a moon landing to get hired. They hired very experienced, high time, cream of the crop guys. I've never heard of their "zero" time program...although I'm not going to say definitively there wasn't an experiment taking place with a few guys.
More than likely what happened...he was hired as a professional FE. They hired those types back then. In the late 70's they quit hiring PFE's and hired pilots into the FE seat...who could then progress upward to FO...then to Captain. At that point in time...all PFE's had a chance to earn their pilot ratings and qualify as a pilot. Many did not pass the proficiency program and rode life to retirement as a PFE. Some of them were still around in the mid to late 90's.
This guy probably successfully made the upgrade...even though he had very few hours. Very few guys were successful in the upgrade...and it wasn't a matter of just a couple of years. Many guys were FE's for 15 years or longer. It could be possible however, that he timed it just perfectly. He was hired when the PFE restriction was lifted and rode a bow wave to the FO seat. The quick timing is just not adding up, however.
As far as the retirement offer he couldn't refuse...well this is the part of the story that makes me throw the BS flag. Let's say he was 23 at date of hire in 1968. When he retired at age 58 it would be 2003. American would have just acquired TWA out of bankruptcy...plus the post 9/11 mess...I know of no special retirement deals going on at this point in time for TWA pilots...or AMR pilots...in fact...the TWA pilots were severely hosed on their retirement past 1992.