you work and build a retirement plan based on what you have done and what
the company promised..
and then after you retire.. the company cuts your planned pension from
$60-70K to $45K
how are you going to live now... sell everything you have.. and buy
something cheaper..
unless you already did that to retire..

BT

"Jay Honeck" wrote in message
news:BGOge.76229$c24.4371@attbi_s72...
Unless you're a pilot, forced to retire at 60 by the FARs. Then you
get $28k to live on because you "retired early." Worked hard to build
a nice house? You're going to have to sell it -- you won't be able to
afford the taxes on it.

That's not what NPR said -- although it IS the pilots who will be hurt the
most.

The way they put it, after clearing a 6-figure income as a United pilot, a
retired United pilot would be capped at "only" $45K annually under the new
plan, despite the fact that his higher past salary entitled him to a MUCH
higher pension payment under the old retirement plan.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"