Didn't they regroup on the first offer? Wasn't the 150K added after the fact?? I thought AA changed some or part of the original offer to get more takers and I thought it dealt with the 150K in medical. So maybe, just maybe they will see yet another very, very low turnout, and all the employees need to tell them that if they would just guarantee the 150K for medical even if they file for BK, then they would get ALOT more takers. Try it folks, hold back unless they can guarantee and see if they won't go ahead and guarantee it (in writing). Ya never know...
New early out offer coming?
- Thread starter keepourpensions
- Start date
Didn't they regroup on the first offer? Wasn't the 150K added after the fact?? I thought AA changed some or part of the original offer to get more takers and I thought it dealt with the 150K in medical. So maybe, just maybe they will see yet another very, very low turnout, and all the employees need to tell them that if they would just guarantee the 150K for medical even if they file for BK, then they would get ALOT more takers. Try it folks, hold back unless they can guarantee and see if they won't go ahead and guarantee it (in writing). Ya never know...
you do realize that ex america west management is running half the aviation industry? Kirby at united and parker at aa. and they both are in bad shape....
robbedagain
Veteran
- Oct 13, 2003
- 11,125
- 2,676
Unless AA files CH11 i would not think parker gonna just walk away. I agree most will most likely not take it. I myself being 43 and having 23 yrs service although qualify for 65 point olan im not planning on leaving as i feel im too old to start over but to young to retire. Thats the sentiment i believe a lot of folks are in
CremaDiLimone
Veteran
- Jun 8, 2016
- 1,817
- 154
i'd have to find out, but, if this is like the previous offer...you could get that insurance money immediately if you left now..and would have to wait one year for buy-out money.
or, you can stay on payroll and wait for insurance money.
CremaDiLimone
Veteran
- Jun 8, 2016
- 1,817
- 154
i'm 54..$150k, even with 30 months of aa insurance rates and then cobra - not enough to get me to medicare.
if you're 60 or above, amazing offer.
JREwing
Advanced
- Feb 11, 2014
- 131
- 15
The companies bleeding money and if no further help with payroll, they're not gonna enlarge the early out carrot. They have to downsize anyway, as it will take a couple of years to get back the vacation traveler. The business traveler is forever changed and international travel will take the longest to recover.
Im 57 in the same boat. The lump sum when you leave and 150k deposited into an account in my name. Not a "credit" just not there for me
It is so hard to decipher what is true or not. An article i beleive in the under the wing thread basically posted that out of all the payroll support that aa has received they have used only a fraction of it for actual salaries. Wonder what the truth actually is.
wings396
Veteran
- Aug 20, 2002
- 3,672
- 1,122
I'm just going to turn 60, and have been with the company for a long time. While the medical offer is decent IMO, the loss of income prior to being eligible for SS at my target age, is a no go. I've had several people asking me if I'm going to retire, but they fail to realize that my orginal pension plan with the PBGC is at a reduced rate already. I also lost a few years of contributions to the IAM plan due to being furloughed for an extended period. I'm not going to separate from the company only to find myself working somewhere else at half my current pay for 6 more years. To me, the only ones who can benefit from this offer are those already on the doorstep of retirement age. It will be a way to nudge a few of them out, but not many others.
NewHampshire Black Bears
Veteran
- Aug 20, 2002
- 10,154
- 681
Robbed'.
You'd be NUTSO' to leave.
I'm not sure what station ur in (I'm thinking DCA).
In a few more years, you should be in excellent shape to 'customize your job', meaning day shift, SS off, Bag room, use your sick time and vaca to make your life #1 with AA as a convenient Ins. policy !
Jesus, with 45 or more years of seniority, plus SS, brother, you'll be a ' FAT RAT ! (just don't abuse your body NEVER, for AA ) !
Bloodhound
Member
- Jan 25, 2012
- 33
- 30
Are you aware of the "Level Up" pension? In a 60 year old's case, you'd receive for instance $3600/month in AA pension. Then, when you get to SS age, the pension goes down to $1000/month, and SS gives you $2600/month, thereby getting you back to the $3600/month that AA originally paid you. Hence,"Level Up". I'm 52 with 21 pensionable years with AA, and this my scenario with AA's pension. Via the Level Up plan, AA pays you a much higher rate until you begin collecting SS. Look into it, you might be surprised!! Don't think that just because you're not eligible for SS that you'll be getting less income. PBGC? Gosh who knows? Good luck!!!
wings396
Veteran
- Aug 20, 2002
- 3,672
- 1,122
I'm LUS, so no company pension plan for me. When LUS filed for BK in 2003, they dumped their pension plans on the Government PBGC. This reduced what any of the people in the plan would have gotten if the company would have kept it funded. The LAA folks are very fortunate that their plans are still funded by the company.
robbedagain
Veteran
- Oct 13, 2003
- 11,125
- 2,676
No im not going anywhere bro. Im already on morning shift at dca. I choose ramp over bag room. I find working ramp more of nice physical exercise than bag room. Cant stand the exhaust fumes etc
I took the first offer last spring. Maybe I can clarify some things for some of you people. Keep in mind that everyone's situation is different. In 2020 I turned 63,had 34 years seniority as an AMT, and after crunching my retirement numbers ( frozen AA pension,401k, social security, taxes,household budget, etc) I knew that I was getting close to retirement. When the first offer from AAL came out, I looked at the numbers and decided it would work for me. I signed up for the VEOP with lump sum and was gone out the door in 2 weeks. The day after I left, I signed up online through the retiree jetnet site to receive my pension, (had to be off payroll to do this). I chose the level funding option so I won't have to take SocSec until 66 1/2 (deferring SocSec will give you a larger payment and there a tax advantages also). It took 2 months before I saw a direct deposit pension payment,but the first deposit was for two months pension pay. It was backdated to the date I opted to start the pension. AAl was not sure at the time if I would be able to use the new HRA in the contract, so I had them payout the 994 hours of sick time in cash at $10 + per hour and that is set aside to pay the 30 months of medical premiums. I sold them back all unused vacation (6 weeks), and this all showed up in my final paycheck. I was surprised, but grateful when I received the signing bonus a few weeks later. When the 2nd VEOP came out in July, someone sent me the details and told me that I should have waited, because of the positive space flights and huge HRA. In the past I have seen people pass on early outs "waiting for the next better offer" only to have no offer . I don't regret for a second taking the 1st VEOP. Time away from AAL has value. I am very very relaxed, I sleep a normal schedule. If it's snowing, who cares, I don't have to go out in it. As for the lump sum payment.....I haven't seen it yet. They have until Mar 15 which is 39 days from today. If you're close to retirement age, and have things other than work to keep yourself ocupied, then consider it. If all you do is sit around and watch tv, keep working. If you're in your 50's and think you'll go get a job at another airline, sad to say it, but most companies want young people they can mold to their design. If you have any comments or questions, I have a lot of time on my hands.
It really does help to hear from folks that have taken the outs in the past. Some fence sitters, I am sure, will contact you with questions. Thanks for sharing.
