Retirement Pay

[drifterreno]

I am seriously thinking about asking US to give me a buy=out of my retirement pay. One lump sum would be better than the measley $141.00 I receive a month. Has anyone heard of this ever happening? Woudln't this take them out of the picture to pay me on down the line? Also just heard something nice about HP. Seems if the employee dies their family members on their pass still fly for life under the same way they did if employee were still alive. That might keep me in the business.

 

[FWAAA]

Given that USAir is probably not going to be paying for anyone's pension, why would the company pay you the present value of yours (or anyone else's)? The PBGC is going to be covering your $141/mo, so there's no incentive for the company to pay you anything to buy out your pension rights.

 

[jimntx]

Unless, the UAIR pension plan is different from every other plan out there, you could never be given a cash-out option at this point. If your plan has a lump sum distribution option as well as a monthly annuity, one or the other must be selected at the time of retirement. Once the lump sum payment is made or the monthly payments begin, the choice is permanent and cannot be rescinded.

If a lump sum distribution was not an available option in the plan at the time of retirement, it can not be given "after the fact."

 

[drifterreno]

Thank you all---I didn't remember if there was a buy out when I retired but I did call today. Nope no pay out. But thank you all for answering. Can't believe I spelled you all with 2 words. Where did my Southern accent go>>>ya'll.

 

[jimntx]

Can't believe I spelled you all with 2 words. Where did my Southern accent go>>>ya'll.

[post="188393"][/post]​

Well if you are goin to try to be uppity and speak Northrun, the correct phraseology would be "Thanks to all of you." You all is considered by those people to be upper class Southern.

 

[usair_begins_with_u]

the measley $141.00

Once bronner and lakefield are done, that will be quite a chunk of change when compared to what most U employees will make.