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6. Date of death of wife - April 6, 1989.

Example 3.

1. Date of birth of wife - June 25, 1920.

2. Date of retirement of pilot - January 1, 1976.

3. Credited compensation: $65,000 for retirement purposes, and $62,000 for survivor purposes.

4. Months of service, 96.

5. Date of death of pilot - May 14, 1988.

6. Date of death of wife - August 13, 1994.

Assume in both cases that there are no unmarried children under either 18 or 21 when the pilot dies, and that the widow does not remarry. What are the various annuities and benefits and when do they become payable?

A. Example 2. The monthly compensation under the Pilots' System for retirement purposes would be $121,500 divided by 180 or $675. The monthly rate of each year of service would be $1 plus 1 per cent of $675 or $7.75. The normal annuity would be based on 15 years of service and is therefore $116.25 - 7.75 multiplied by 15. But the pilot retires on January 1, 1967. He is less than 60; he has no employment relation to the air transport industry, not having worked for an air line for 14 years; and he is not disabled. Therefore, his annuity must be reduced by one one hundred eightieth for each month ty which he is less than 60 on January 1, 1967. He will be 60 on July 1, 1969 so on January 1, 1967, he is 30 months less than 60. The annuity is therefore to be reduced by 30/180 or 1/6 to $96.88