This transcription has been completed. Contact us with corrections.
Table I -5- Approximate costs and benefits of the proposed Air Line Pilots' Retirement Plan, as presently constituted, to a copilot who is employed by an air carrier subsequent to the enactment of the Retirement Act. (No retroactive credit for military or airline service.) [[7-column table]] | | | | | |Survivor | | | Years | Salary | | | | Benefits |Cost | | of | per | Complete | Occupational | Retirement| "Insurance |per | | Service | Year | Disability | Disability | at age 60 | Amount" |Year | | 1 | $3600 | $200/mo. if incurred in an accident in the course of employment, otherwise, no complete disability during the 1st 5 years. | $200/mo. if the disability is the result of an accident on the job.| $4.00/mo | None | $279.00 | | 2 | 4200 | | | 8.50 | $48.45/mo | 325.00 | | 3 | 4800 | | | 13.50 | 51.50 | 372.00 | | 4 | 5400 | | | 19.00 | 54.60 | 418.50 | | 5 | 6000 | | | 25.00 | *57.75 | 465.00 | Cost to date - $1,859.50 *No children, wife does not receive annuity until age 60. If he leaves the airline, this "Insurance Amount" is reduced each month and reaches zero at the end of 5 years. [[7-column table]] |--| --- | --- | --- | --- | |6 |$6600|Same as lst 5 years except that after 5 years if you are completely disabled on or off the job and have an "Employment Relationship" to the industry at the time, you receive $200/mo.|Same as for years 1-5*.|$31.50/mo.| 60.95/mo.|$511.50 |7 | 6600| | | 38.01 | 63.44 | 511.50 |8 | 6600| | | 44.48.| 65.48 | 511.50 |9 | 6600| | | 51.03.| 67.21 | 511.50 |10| 6600| | |***57.50 | **68.75 | 511.50 Cost to date - $4,417.50 *If occupationally disabled from causes incurred off the job at 9 1/2 years, you do not receive occupational disability payments. However, if your ten years are completed, you receive $200/mo. **At the end of ten years, he has a "Permanently Insured" status but if he leaves the industry, his "Insurance Amount" will be reduced for each month he is away ***If he quits at the end of ten years voluntarily, he will receive this amount monthly if he is alive at age 60; or he may take about $19.00/mo. at age 50.
Transcription Notes:
first table may need reformatting