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Definition of an Outlier
The
premise of the Outliers is that the DC Plan promises a certain level of benefit,
based on years of service and FAE. 96% of active pilots receive the level
of benefit promised, or at least have a chance to reach the level, subject to
market risk (matching the 8% ROR), company risk (survival, changes in fleet,
etc.) and individual bidding preference. The Outliers are those who cannot
achieve that target benefit because they do not have enough time left and
because of the 100% cap on the matching contributions.
Because of mandatory retirement at age 60, the Outliers are pilots who
are close to age 60. Of the 4% who do not achieve the full benefit, more
than 50% were 59 as of 1/1/2003, more than 25% were 58. The rest are 57,
with the exception of 4 56 year-olds, and a 55 year-old.
Latest News edited August 5, 2005 NEW
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