Tuesday, September 05, 2006

Poor Delta Pilots

The horror . . .

They lose their pension plans today.

Thank God I don't have a pension. I'd suffer like they will.

Delta estimated that after the plan is terminated, retired Delta pilots' average pension benefit will be $75,200 on an annualized basis, including the lump sum. Some retired pilots dispute that amount.
Pilots have already taken a large financial hit during Delta's Chapter 11 case. Wage rates for active pilots have been cut almost in half under two contract agreements since 2004, and pilots are now on a 401(k)-style retirement plan going forward.

Oh the horror!