This transcription has been completed. Contact us with corrections.
- 11 - Table III Approximate costs and benefits of the proposed Air Line Pilots^1 Retirement Plan, as presently constituted, to a First Pilot [underlined] who has 10 years of service [underlined] as of the date of the enactment of the Plan. (It is assumed as a basis of computation of benefits that his 1948 salary was at a rate of $10,000 per year.) [Chart] Years Salary Complete Occupational of per Disability Disability Service Year 10 |$10000|$200/mo. |$200/mo. 11 |10000 | 200.00 | 200.00 12 |11000 | 200.00 | 200.00 13 |11000 | 200.00 | 200.00 14 |11000 | 200.00 | 200.00 15 |11000 | 200.00 |*200.00 Cost first 5 years - $4,185.00 *Voluntarily retires - loses this benefit ** Retains this benefit even if he quits. ***If he quits, this benefit is reduced for each month he is away. For example. voluntarily retires at age 45 and dies at age 55 - "Insurance Amount" would be reduced to $63.00 per month. 16 |$12000|$200/mo.|$200/mo.|$154.40|$95.40|$930.00 17 | 12000| 200.00 | 200.00 | 165.41| 96.30| 930.00 18 | 12000| 200.00 | 200.00 | 176.22| 97.20| 930.00 19 | 12000| 200.00 | 200.00 | 187.34| 98.10| 930.00 20 |*12000| 200.00 | 200.00 | 200.00| 99.00| 930.00 Cost to date - $8,835.00 *This is the maximum amount which may be taxed and hence used in computations.