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Re: dumb question [Re: Karl_Brogger] #258097
03/05/13 01:09 PM
03/05/13 01:09 PM
Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
Timbo Offline
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Timbo  Offline
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Posts: 6,048
Sebring, Florida.
Originally Posted by Karl_Brogger
Timbo, why would you want a pay cut like winning the lottery?


You must have me confused with your Dad. Since all the Majors declared bankruptcy, cut our pay 42%, flushed our retirements down the toilet, airline pilots don't make anywhere near what they used to. I made a lot more in 2004, as a 757 domestic pilot than today, as a 777 International pilot.

Oh, and I had $1.4 Million in my retirement plan in 2004, all gone now.


Blade F16
#777
-- Have You Seen This? --
Re: dumb question [Re: Timbo] #258099
03/05/13 01:21 PM
03/05/13 01:21 PM
Joined: Dec 2001
Posts: 5,590
Naples, FL
waterbug_wpb Offline OP
Carpal Tunnel
waterbug_wpb  Offline OP
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Joined: Dec 2001
Posts: 5,590
Naples, FL
Originally Posted by Timbo
Oh, and I had $1.4 Million in my retirement plan in 2004, all gone now.


Was that the Bernie Madof 401(k)? or some Delta pension?

My 401(k) projection has me at about that amount.... if I take retirement at age 203...

Last edited by waterbug_wpb; 03/05/13 01:21 PM.

Jay

Re: dumb question [Re: waterbug_wpb] #258101
03/05/13 01:38 PM
03/05/13 01:38 PM
Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
Timbo Offline
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Timbo  Offline
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Posts: 6,048
Sebring, Florida.
Delta had what is called a Defined Benefit Retirement program. Due to favorable funding laws, they had not made a single dollar deposit to that fund in over 8 years, from 1996-2012, because the fund was growing fast, along with the stock market. But after the hijackings of 9-11, and the ensuing economic plunge, when they filed for Bankrutpcy in 2004, the fund was suddenly underfunded, buy about $4 Billion. So they flushed the Pilot's pensions and told us to talk to the PBGC. In 2004, after 19 years of service, my piece of the retirement pie was $1.4M. I got zip point nada.

To put it in perspective, I have many good pilot friends at American Airlines, which also filed Bankruptcy, but their retirement fund was not so badly underfunded, so they kept all of theirs. The guys I've talked to there with similar years of service to me (over 27 years now), have about $3 Million in their retirement funds today.

Now we have a 401K program, but we had to start from scratch, at age 50...and try to come up with enough in the short 15yr. remaining (for me), to fund our own retirements. It's all good though, our management team got huge bonuses...

I've got my retirement plan all figured out:

"Hi, Welcome to WalMart!"



Blade F16
#777
Re: dumb question [Re: Timbo] #258103
03/05/13 01:57 PM
03/05/13 01:57 PM

M
MN3
Unregistered
MN3
Unregistered
M



Originally Posted by Timbo
Oh, and I'll hire some strippers to crew it!

Maybe different in central florida, but here in the stipper capt of the world (tampa) ... you really don't want to see the day shift in good lighting ...

Re: dumb question [Re: waterbug_wpb] #258104
03/05/13 02:04 PM
03/05/13 02:04 PM
Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
Timbo Offline
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Timbo  Offline
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Posts: 6,048
Sebring, Florida.
I've been to Mons Venus on my Tampa layovers! I agree!

But I think I can probably get some cute ones shipped down from the Gold Club in Atlanta! Worst case, I'll have to import some from Singapore.


Blade F16
#777
Re: dumb question [Re: Timbo] #258105
03/05/13 02:13 PM
03/05/13 02:13 PM
Joined: Oct 2005
Posts: 1,152
tampa, fl
K
ksurfer2 Offline
old hand
ksurfer2  Offline
old hand
K

Joined: Oct 2005
Posts: 1,152
tampa, fl
Originally Posted by Timbo
I've got my retirement plan all figured out:

"Hi, Welcome to WalMart!"



Dammit....That was my retirement plan. Looks like I'll have to go to plan B.

"Would you like fries with that?"

Last edited by ksurfer2; 03/05/13 02:13 PM.

If your havin girl problems i feel bad for you son
I got 99 problems but my beautiful wife ain't one
Re: dumb question [Re: waterbug_wpb] #258106
03/05/13 02:17 PM
03/05/13 02:17 PM
Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
Timbo Offline
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Posts: 6,048
Sebring, Florida.
I've been telling my twin daughters, the ones with the 8 horses I just put through Auburn, "You'd BETTER get a good job, because as soon as you do, I'm moving in with YOU, and YOU can Feed ME for a change!"

I hear the Brits are eating horses now...I can't wait until we start doing it over here, I've got a lot of ribs still on the hoof, just ready and waiting!


Blade F16
#777
Re: dumb question [Re: Timbo] #258114
03/05/13 03:05 PM
03/05/13 03:05 PM
Joined: Jun 2001
Posts: 12,310
South Carolina
Jake Offline
Carpal Tunnel
Jake  Offline
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Joined: Jun 2001
Posts: 12,310
South Carolina
Originally Posted by Timbo
Delta had what is called a Defined Benefit Retirement program. Due to favorable funding laws, they had not made a single dollar deposit to that fund in over 8 years, from 1996-2012, because the fund was growing fast, along with the stock market. But after the hijackings of 9-11, and the ensuing economic plunge, when they filed for Bankrutpcy in 2004, the fund was suddenly underfunded, buy about $4 Billion. So they flushed the Pilot's pensions and told us to talk to the PBGC. In 2004, after 19 years of service, my piece of the retirement pie was $1.4M. I got zip point nada.

To put it in perspective, I have many good pilot friends at American Airlines, which also filed Bankruptcy, but their retirement fund was not so badly underfunded, so they kept all of theirs. The guys I've talked to there with similar years of service to me (over 27 years now), have about $3 Million in their retirement funds today.

Now we have a 401K program, but we had to start from scratch, at age 50...and try to come up with enough in the short 15yr. remaining (for me), to fund our own retirements. It's all good though, our management team got huge bonuses...

I've got my retirement plan all figured out:

"Hi, Welcome to WalMart!"



You could always become a stripper and have Ding support you.


Jake Kohl
Re: dumb question [Re: Jake] #258115
03/05/13 03:13 PM
03/05/13 03:13 PM
Joined: Oct 2005
Posts: 1,152
tampa, fl
K
ksurfer2 Offline
old hand
ksurfer2  Offline
old hand
K

Joined: Oct 2005
Posts: 1,152
tampa, fl
Originally Posted by Jake
Originally Posted by Timbo
Delta had what is called a Defined Benefit Retirement program. Due to favorable funding laws, they had not made a single dollar deposit to that fund in over 8 years, from 1996-2012, because the fund was growing fast, along with the stock market. But after the hijackings of 9-11, and the ensuing economic plunge, when they filed for Bankrutpcy in 2004, the fund was suddenly underfunded, buy about $4 Billion. So they flushed the Pilot's pensions and told us to talk to the PBGC. In 2004, after 19 years of service, my piece of the retirement pie was $1.4M. I got zip point nada.

To put it in perspective, I have many good pilot friends at American Airlines, which also filed Bankruptcy, but their retirement fund was not so badly underfunded, so they kept all of theirs. The guys I've talked to there with similar years of service to me (over 27 years now), have about $3 Million in their retirement funds today.

Now we have a 401K program, but we had to start from scratch, at age 50...and try to come up with enough in the short 15yr. remaining (for me), to fund our own retirements. It's all good though, our management team got huge bonuses...

I've got my retirement plan all figured out:

"Hi, Welcome to WalMart!"



You could always become a stripper and have Ding support you.


Thanks Jake....now I've got to spend the rest of my life getting that image out of my head. sick


If your havin girl problems i feel bad for you son
I got 99 problems but my beautiful wife ain't one
Re: dumb question [Re: waterbug_wpb] #258119
03/05/13 03:25 PM
03/05/13 03:25 PM
Joined: Jun 2005
Posts: 302
Daytona Beach Florida
O
orphan Offline
enthusiast
orphan  Offline
enthusiast
O

Joined: Jun 2005
Posts: 302
Daytona Beach Florida
Let me guess, management got thier pensions.

Re: dumb question [Re: rehmbo] #258120
03/05/13 03:45 PM
03/05/13 03:45 PM
Joined: Jul 2010
Posts: 172
Anacortes
Sloansailing Offline
member
Sloansailing  Offline
member

Joined: Jul 2010
Posts: 172
Anacortes
Originally Posted by rehmbo
Level of athleticism/effort required


You are lost.


Anacortes Rigging.com
Rigging and Yacht Services
Re: dumb question [Re: orphan] #258122
03/05/13 03:59 PM
03/05/13 03:59 PM
Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
Timbo Offline
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Timbo  Offline
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Posts: 6,048
Sebring, Florida.
Originally Posted by orphan
Let me guess, management got thier pensions.


Oh yeah, and two Bonuses! First, they gave the 'Old managment team' a big Retention Bonus, to keep them from jumping ship at the 'critical moment'. Then, after in bankruptcy, they gave them a Severance Package, to Leave! Then, they bought out the New Guy, paid him $15 Million up front, to leave his Old Job, and take over at Delta. Since then (2007) he's made over $20M.

And yes, he's got a very nice retirement plan.

As they say, It's Good to be King!


Blade F16
#777
Re: dumb question [Re: Timbo] #258136
03/05/13 10:04 PM
03/05/13 10:04 PM
Joined: Aug 2001
Posts: 917
Issaquah, WA, USA
H17cat Offline
old hand
H17cat  Offline
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Joined: Aug 2001
Posts: 917
Issaquah, WA, USA
Timbo, check your PM, message from my high school mate, and one of your fellow Delta pilots.

Re: dumb question [Re: ksurfer2] #258142
03/06/13 09:51 AM
03/06/13 09:51 AM
Joined: Feb 2005
Posts: 4,118
Northfield Mn
Karl_Brogger Offline
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Karl_Brogger  Offline
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Joined: Feb 2005
Posts: 4,118
Northfield Mn
Originally Posted by ksurfer2
Originally Posted by Timbo
I've got my retirement plan all figured out:

"Hi, Welcome to WalMart!"



Dammit....That was my retirement plan. Looks like I'll have to go to plan B.

"Would you like fries with that?"


Could be worse, I'll probably be running a mop and handing or towels at the local cathouse.


I'm boatless.
Re: dumb question [Re: waterbug_wpb] #258144
03/06/13 10:19 AM
03/06/13 10:19 AM
Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
Timbo Offline
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Timbo  Offline
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Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
Hey, look on the bright side Karl(s), it'll also pay...

all you can eat!


Blade F16
#777
Re: dumb question [Re: Timbo] #258147
03/06/13 12:07 PM
03/06/13 12:07 PM
Joined: Dec 2001
Posts: 5,590
Naples, FL
waterbug_wpb Offline OP
Carpal Tunnel
waterbug_wpb  Offline OP
Carpal Tunnel

Joined: Dec 2001
Posts: 5,590
Naples, FL
I'm going to be a meter maid....with a TAZER


Jay

Re: dumb question [Re: waterbug_wpb] #258150
03/06/13 01:02 PM
03/06/13 01:02 PM
Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
Timbo Offline
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Timbo  Offline
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Joined: Jan 2005
Posts: 6,048
Sebring, Florida.
"Don't Taze me Bro!"

;^)


Blade F16
#777
Re: dumb question [Re: Timbo] #258154
03/06/13 02:05 PM
03/06/13 02:05 PM
Joined: Dec 2001
Posts: 5,590
Naples, FL
waterbug_wpb Offline OP
Carpal Tunnel
waterbug_wpb  Offline OP
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Joined: Dec 2001
Posts: 5,590
Naples, FL
you'll be the first on my list, Timbo... for even hinting "horses". It's hard enough to distract the grommets when we drive past horse stables and pastures without you continually reminding me the peril I face if any of them say "oooh! Horsie!"


Jay

Re: dumb question [Re: waterbug_wpb] #258165
03/06/13 04:37 PM
03/06/13 04:37 PM
Joined: Jun 2003
Posts: 712
mikekrantz Offline
old hand
mikekrantz  Offline
old hand

Joined: Jun 2003
Posts: 712
Guys, You're just hanging around the wrong crowd.

I woke up this morning, it was cold, spitting snow, and I HATE snow. I'm thinking it's going to be a miserable day.
The phone rings and I hear "Dude, our driver bailed on us, we need you in Miami! Ticket is waiting on you at the Delta counter"

Now I'm sitting in the airport about to head south, my bag is packed with shorts, and my attitude is much better.

Melges Rocks!

Re: dumb question [Re: waterbug_wpb] #258166
03/06/13 04:46 PM
03/06/13 04:46 PM
Joined: Jun 2001
Posts: 3,293
Long Beach, California
John Williams Offline
Carpal Tunnel
John Williams  Offline
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Joined: Jun 2001
Posts: 3,293
Long Beach, California
Be like Mike.


John Williams

- The harder you practice, the luckier you get -
Gary Player, pro golfer

After watching Lionel Messi play, I realize I need to sail harder.
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