As Rob and his wingman prepare for a meeting
with the company scheduled in November, we are also assembling a story about our pension loss that we hope to get some
traction with. Some volunteers will be
asked to give personal testimony as to the losses experienced. For those asked, please respond to my email
request to help this effort. The more
known our situation becomes the better chance of making some headway.
By the
way, here is a quiz. For most of you
who received a stock payout for the terminated “formula account” or terminated
Non-Qualified, here is a little question.
Because a retiree cannot eat stock, most of us had to sell the
payout. What do you think the average
stock price would have been from the time of distribution for a period of 5 years? In other words, the average of each day close
of DAL stock for 5 years after we received our non-qualified payout.
The
answer: $10.78 per share. That Non-Qualified money was being paid out
of the formula account in the form of a monthly annuity. If any of us did sell the one time stock payout
and then re-purchased an annuity at going rates to receive a replacement
monthly annuity, that average loss would vary between 80-90%. Interesting, ehhhh!!!
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