Pension - HL 353 (1)

I wish to include something that Capt Bruce Cohen sent and brought to our attention. Bruce brought up a PBGC change of the “game rules” after the game had started.  Now, this new revelation caught out eye and at first appeared it had some relevance to our situation.  Sadly, after reaching out to our guys and experts, formerly from the DP3, they pointed out that the ‘game changer’ would not be applicable to our situation.  I am sharing all of this because some of you may have read up and had been wondering about this very issue.  Also, to show just what someone concerned and caring, like Capt Cohen, can set in motion.  AND, even though this new turn of events with the PBGC is not applicable to Delta’s terminated Defined Benefit Pension Plan, you never know about what may occur in the future that could effect us. So, with that said, I appreciate what Bruce brought our way and want to thank him for wanting to fight for fairness for his earned pension and for our guys. 

Following are emails forwarded to me from Capt Cohen: 

I.                    https://www.pbgc.gov/arp-sfa

 

II.                  ---------- Forwarded message ---------
From: Bruce Cohen <brew737@gmail.com>
Date: Fri, Aug 18, 2023 at 3:08 PM
Subject: Re: PBGC
To: <scott.bowles@alpa.org>

 

Hello Scott,

 

My name is Bruce J. Cohen. I VEOP'ed out in 2020...employee #683649...ALPA #069-706-0.

 

I am writing because of the latest information to be published by the PBGC. Under a new Biden Administration policy, more than a few Pension Plans held by the PBGC are being made whole.

 

Below is a short note in discussions I've entrusted with an attorney dealing with PBGC matters:

 

    Under separate cover, I am forwarding to you just another example of the pension plan reinstatement notices that I have been receiving within the last several months. 

 

As mentioned earlier, these policies are part of this Administration's American Rescue Plan (ARP) Act of 2021. This section of the act is called the Special Financial Assistance (SFA) Program. I'd like for me and my twelve thousand pilot friends affected by the pension termination to get in on the opportunity while still available.

 

The Delta Pilots' Retirement Plan was terminated circa 2006.

 

 

Please call or write at your convenience to discuss. I'll send a few of those PBGC notices along.

Thanks, in advance, for your time. No rush on this. We've waited fifteen or so years. A few more months won't matter much!

Best regards,

 

Bruce J. Cohen

 

My Letter asking for expert help from those within the PCN that I know have a lot of knowledge on this matter.

Guys,

I hope your Labor Day weekend was great.  This is Mark and you know me from running the PCN and publishing the High Life.  Well, a while back I was in contact with many of you in support of our DP3’s effort of realizing relief from the PBGC’s draconian calculation of our pension benefits.  Now, because of Capt Bruce Cohen’s revelation, there has been a very interesting development at the PBGC.  In a word, it could be a Lost Delta Pilot’s Pension........ GAME CHANGER? 

The PBGC has presumably come into money (American Rescue Plan Act of 2021)  Because of the  windfall the PBGC has been reducing its portfolio of those covered by PBGC’s pitiful benefits.  AND THIS IS THE CRAZIEST THING…….WHILE THIS WINDFALL EXISTS THE PBGC IS MAKING SOME OF THEIR FORMER CLIENT’S PENSIONS WHOLE!!!  You heard right.  They are allowing ‘applications’ to be made for a review wherein some of the broken Defined Benefit pensions are RESTORED TO FULL.  Don’t believe me?   Well, it certainly looks like its  true and in fact this could just be our best opportunity yet to realize pension justice.  But I have to say.......I am afraid it is very time critical.

Capt Bruce Cohen, who early ret in 2020,  brought all this to my attention and I'm asking for your help.  First, take a look to see if you see this possibility of application if it that is true, than why couldn’t Delta Pilots apply and why couldn’t we be approved for restoration? 

I’m actually sorry to be contacting you, because I know you are tired of all this.  But this was unexpected and has NOTHING TO DO WITH THE PBGC miscalculating benefits.  Its all about them coming into money and us helping them reduce their portfolio.  Interested?   Good!!!! Check out the rest that I have included below for you from Capt Cohen and please let’s see what we can do to possibly take advantage of this opportunity before the door closes. 

So what am I asking you to do?   Well, some of us are running a little tired.  The Fight has left us and the sword is a little heavy.  But if you muster a little righteous anger, and still care about this corporate injustice, then here is what we can do together:

1.       First, read a little background info that was forwarded by Capt Bruce Cohen. 

2.      Second,  after your own research, please communicate with me concerning your opinion of whether you feel there might be an opportunity here to make application to the PBGC for restoration.

3.       And thirdly,  please offer  your advice as to what we could collectively do to acquire legal counsel and make a time critical application on behalf of our retired pilot group before the proverbial door closes. As you read, the application process is not unlimited and many other plans that were under the PBGC have already applied.  So of course, if this is all possible, it’s a matter of getting on a list and getting a fair review.

 

I GOT RESPONSES FROM A NUMBER OF FORMER DP3 OFFICERS BUT VERY MUCH APPRECIATED THESE TWO REPSONSES FROM WILL BUERGEY ANS JIM GEORGE BECAUSE OF HOW THEY ARE SO INFORMATIVE CONCERNING THE ISSUES THAT BRUCE BROUGHT UP.

I thank Will and Jim for their reply’s below:                             

Mark:

 

Thank you for bringing this to our attention. Unfortunately, it does not appear that this program would apply to retired Delta pilots.

 

The PBGC guarantees pension benefits for two types of defined benefit pension plans, single employer plans and multi-employer plans. Our plan was a single employer plan, only covering Delta pilots, so this program providing Supplement Funding to multi-employer plans would not apply to Delta’s single employer plan.

 

The second problem is that these SFAs are designed to fund plans up to the point where they are able to pay guaranteed benefits, but according to the way the PBGC calculated our benefits, they claim that all of our members (pilots who were already retired or eligible to retire at the time of plan termination) have already received their guaranteed benefit in large part due to our lump sum payments. (Pension benefits guaranteed by the PBGC are not the same as the benefits promised under the terms of our terminated plan.)

 

Another issue is that under current ERISA law the PBGC already has the authority to require a plan provider to restore a terminated plan, but as part of their plan termination agreement with Delta, the PBGC agreed to never require Delta to restore the plan.

 

Thanks again for all you do for the retired Delta pilots.

 

Will Buergey

 

++++

Mark,

    Will has laid this out very well.  I would add one thing:  I believe it was in the Pension Reform Act of about 2006 - one which didn't really do that much in the way of "reform" - there was a provision SPECIFIC to Delta Airlines, I believe inserted by GA Senator Saxby Chambliss (no doubt due to some effective Delta lobbying) - that DELTA would NOT EVER have to reassume the pilot's pension plan.  Absent this, as Will pointed out, PBGC has ALWAYS retained the "right" to REQUIRE any (successful) company, post bankruptcy, to reinstate (and basically resume and pay for) its pension plan which was terminated in Bankruptcy.

    However, with this one little rather dubious provision having been written into LAW, Delta can effectively say "Sorry, we are prohibited by LAW from ever reinstating our terminated Pilots Pension Plan."

    Thus I have always seen these pension reinstatement efforts - well intentioned as they are - as being nothing more than jousting at windmills.  Such efforts would have been better expended, IHMO, in pursuing something actually attainable.  E.G., how about some Positive Space Passes for retired pilots who were so devastated and damaged by the Plan Termination?

Best Regards,

Jim George

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Pension - HL 334 (1)

Well, you won’t believe this one.  

After the Supremes refused to hear our DP3 case on deference, we all thought that was the end of the run and our appeal for fairness was over.  Actually, I more or less believe that to be the case.  BUT the law firm has noticed that the Supremes have accepted and docketed a couple of cases this year on that very issue of deference.  Well, well well.  If there is a favorable plaintiff ruling on this issue than maybe, just maybe, the DP3 issue can be re-submitted.  That is the position of the law firm so check you email box for a recent note about this very thing.  As Yogi Berra once said, “it ain’t over ‘til its over!”  

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Pension - HL 332 (1)

The 15 year battle for benefits fairness led by some extraordinarily dedicated DP3 pilots is over. 

 

When the merger (acquisition) between NWA and DAL was announced,  interestingly enough there were at least 3 important thresholds, held by ERISA precedent, that should have been met before the courts would allow a Defined Benefit pension plan to be terminated.  Delta did not meet the standards in ANY of the thresholds, yet the court banged the gavel and DAL pilot DB plan was terminated in the Fall of 2005.  Fortunately, for our retired pilot friends at NWA, who are now part of the Delta family, they did not suffer the same fate.  (Yeah, I know the NWA retired pilots had some “adjustments” to their plan but NWA, nor later Delta, never terminated their plan but rather took over their DB plan and is paying it out as we speak.   It was and has always been the DAL retired pilots, with the plan terminated and took over by the PBGC, who suffered the greatest harm since the PBGC pays out a mere pittance of what was obligated.  There is just no other group that rises to the Delta retired pilot’s level of retirement harm.  So, this inequity inspired some of our retired leader pilots into action to seek fairness and justice.  The DP3 was formed and led by some very admiral leaders and fighters whose names are below.  In criminal law it is often times hard to get a conviction on a very old cold case.  In civil law there is a similarity with trying to right a past wrong as each passing week the case becomes older and farther from view.  Never-the-less, I personally hold a large amount of admiration for Will and the guys those who led the DP3 in this effort.  All efforts eventually end and usually there is a clear win, clear loss or some vague place in between.  I will always consider the pilots who stood with the DP3 and fought as having a clear win, because they stood long and strong on the side of fairness and the right.  As we all retire from the fight, I hope the DP3 leaders and all who stood with them can hold your head high as having fought the good and noble fight. 

 

Letter from Will: Dear Mark,

 

We have just been advised that the Supreme Court has denied our petition to be heard (certiorari). While not unexpected, considering how few cases are heard, it is nonetheless a disappointing end to our 15-year battle to regain some of our lost benefits.               Despite our disappointment, the effort has been an extraordinary experience for those of us you have allowed to represent you over these years. We hope that, like us, you feel you have been part of a meaningful effort to address a fundamental governmental flaw that allows a federal agency to run rough shod over the citizens it was created to protect.               We hope you have viewed this effort like the fight against cancer – you hope your donation will cure it in your lifetime but, regardless, you know that it is a battle that must be fought. Our battle against deference will not benefit us as we had hoped it would, but our case was very much on the radar in Washington, DC legal circles.              We planned our finances so that we will be close to zero by the time all expenses are covered. We are currently evaluating the costs of ending this endeavor and we will let you know the financial details in a later email.             We want to thank each of you for supporting us and your fellow retirees throughout this effort. It says a lot about the kind of men and women we spent our careers working with. Thank you.

 

The Trustees of DP3 Inc.   Will Buergey, Chairman Wendell Lewis, Vice Chairman Roger Ross, Treasurer Clarke Brandt, Secretary Bill Caiazza George Leatherbury Rhea Nichols Tom Seever Kim Welch

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Pension - HL 323 (1)

Capt Will Buergey has sent a recent email notice from the DP3.

 

For all DP3 Members: 

 

Please check your inbox or visit www.DP3.org 

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Pension - HL 315 (1)

DP3 email update…………Please check your inbox or visit the www.DP3.org  website. 

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Pension - HL 314 (1)

Captain Moser's comments regarding the recent profit sharing payout:

Open Letter With “Alternative View” to Delta Mgt.:

Regarding Feb 14^th, 2020 - $1.6 Bill Profit Sharing Bonus

To: Edward Bastian, CEO, Delta Air Lines

       Glen Hauenstein, President, Delta Air Line

       Paul Jacobson, EVP Finance, Delta Air Lines

Subject: PROFIT SHARING

I would like to extend my congratulations to Delta's senior management, as well as the 80,000 plus employees who have worked very diligently to return Delta to the very top of the airline industry. I fly, as a full fare passenger on Delta frequently, and the difference in the level of service provided by Delta employees to the flying public is noticeable and is appreciated by those of us who travel and have a choice of airlines. Delta is fortunate to have the finest employees in the industry, and their focus on customer service is what has made Delta Air Lines the BEST OF THE BEST in the airline industry.

At the same time, gentlemen, today is a rather painful day for 3500 Delta pilots and their loved ones who were singled out on September 14, 2005, as so called "unsecured creditors" and who were betrayed by Delta's leadership and had their pensions cancelled when Delta declared bankruptcy. Ironically, Northwest Airlines, which also declared bankruptcy on September 14, 2005, made the decision to maintain the pensions of all of their retired employees, because it was "the right thing to do". 

All former Northwest employees, including the Northwest retired pilots, receive their full, earned pensions from Delta's treasury, while 3500 Delta retirees receive a token amount from the Pension Benefit Guarantee Corporation, not even close to the amount we should be receiving for our many years of service delivering the highest level of safety to the millions of passengers who entrusted their lives to us 24/7/365.

Why Ed, why Glen, why Paul?

We, the 3500 pilots and our loved ones have, through our being denied our pensions, have given back at least 1.5 billion dollars during the past 15 years yet we have not received our pensions even though Delta could have easily reinstated our pensions, and included us as members of the Delta Family.

This is a travesty and an injustice that will never be forgotten by the 3500 pilots and their loved ones whose lives were forever changed by Delta's senior management's failure to live up to the financial commitments that were promised to us when we were hired as pilots.

In closing, let me quote from Richard Anderson's RULES OF THE ROAD:

"DELTA PEOPLE TODAY STAND ON THE SHOULDERS OF THOSE WHO CAME BEFORE US. THE SUCCESSES THAT WE HAVE ACHIEVED IN THE PAST AND WHATEVER WE MAY ENJOY IN THE FUTURE, DEPEND UPON THE STRONG DESIRE AND MOTIVATION OF OUR PEOPLE TO PROTECT AND PRESERVE THE CULTURE OF THIS GREAT COMPANY'

It makes 3500 former Delta pilots very sad to think that these words by Delta's former CEO do not include us.

On September 14, 2005, the leadership of Northwest Airlines decided to "do the right thing"

Unfortunately,  on September 14, 2005, Delta's leadership did not "do the right thing".

We, the 3500 who were denied our hard earned pensions, are still very much alive and are still waiting and hoping that Delta's senior management will "do the right thing" and reinstate our earned pensions. 

Robert D. Moser

Proud Delta employee and member of the Delta Family 12-11-72  6-30-05

727, 737, 757,767,777, DC9, MD88/90., L1011, MD 11, Flight Engineer, First Officer, Captain, Line Check Airman.

Robert D. Moser hereby grants complete and free authority to re-print, publish and share this letter to any and all subjects via any social or media outlet.  

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Pension - HL 306 (1)

DP3 recent news on progress of claims through the court system and latest election of trustees.  Please either visit you backpage at www.DP3.org or check your recent emails from the DP3.

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Pension - HL 301 (1)

For all DP3 members there is an informative and interesting update.  Please check your inbox for an email from Will or simply login online and view the latest update.  www.dp3.org

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Pension - HL296 (1)

Recent email communication from DP3 Chrm updating the legal fight.  Please check your inbox. 

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Pension - HL 294 (1)

APPEAL:  For all of us who are supportive of the DP3 led effort to see legal relief from the PBGC you may have known the negative result from the initial court case.  Now, you should be aware that the DP3 has been advised that the case has strong reasons for appeal so they are now leading an effort to appeal the ruling.  The word on the success or failure of this appeal should be had within one year.  

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Pension - HL 293 (1)

 By now most of those in the DP3 claims have heard the disappointing news.  I encourage all who are on the DP3 email list to check the latest offering.  You may also log in to the DP3.org and get the latest news on the court proceedings.  

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Pension - HL 282 (1)

  Nov 21^st was the last update from the DP3 so please check your inbox or login to your member site for the latest as 2018 should be a year of decisions on the case.  

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Pension - HL 279 (1)

 RE: Delta changed from a fully funded pension check to an ACH check which goes through the Federal Reserve

From: Yorkieatl@aol.com Date: 10/3/2017 9:49:47 AM To: Subject: Fwd: deposit of Delta Pension Checks (in any bank)

 Here is something I just found out. Please send to all retirees you know.

Mary please send to all Presidents.

Sue, I would think this should go on our website and in Nov Newsletter.

Thx Paul  

---

I'm don't know if any of you got the first message from Joyce or the answer from Sue. I think you all should be aware that the deposit date of you pension check (in any bank) has changed if the 1st of the month falls on a weekend. the deposit date will be the following Monday (or Tuesday if Monday) is a holiday.  If you have any auto payments coming out of your account you should set  those payments the 4th of the month or later.

````````````````

1.

On Sunday, October 1, 2017 4:37 PM, Joyce wrote:

Our pension check is not in our accounts!!!!!!  I called the Delta Credit Union - they had a policy change they did not tell us about.  They are now holding funds when the 1st falls over a weekend or holiday until the next business day.  Which means our pensions won’t be in our account until October 2nd this month!  

````````````````

2.

I got this response from Sue:

Ok - I just talked to Julie B. who verified that Delta changed from a fully funded pension check to an ACH check which goes through the Federal Reserve - which is only processed Mo-Fr.  DCCU can only deposit the money when they get it which is the first business day (non-holiday) after the check is issued.  No matter where you bank - it would be the same result!!!  Hope that helps!

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Pension - HL 276

Updated Court schedules for our DP3’s representation of the retired Delta pilot’s case:

Roughly delayed by 1 week!

Next few months will have a lot of court action on our case.  Stay Tuned!

Please see schedule on DP3 member page.  

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Pension - HL 275 (1)

Haven’t got an update from DP3 of late on the court case, but the claims of 2-5 (regarding PBGC calculations of benefits) are expected to be ruled on by end of year.  Let’s hope!

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Pension - HL 272 (1)

The DP3 will be electing Trustees for their new term:  The election will be conducted electronically between May 15, 2017 and May 31, 2017.  Ballots will be emailed to all current Honor Roll members.  The results of the election will be announced as soon as practicable following the balloting.

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Pension - HL 267 (2)

Encouraging news out of our DP3 lately.  Please check your inbox for email notices from them.  

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Letter effort by Capt Rodammer. 

From: LLRodammer@aol.com

Date: 1/28/2017 2:03:04 PM

To: mark@pilotcommunication.net

Subject: THE TRUMP LETTER

01-28-2017

 Hi Mark:

 I sent President Trump this letter yesterday to see if he would speak with Mr. Anderson and Mr. Bastien regarding the absence of our "unqualified retirement checks" the past 11 years.

As my letter points out, we have tried all of the normal channels and this is the only hope we have left. I hope you welcome this request.

Best, 

Larry

01-27-2017

Dear President Trump:

How great that sounds! You were my choice from the minute you announced your candidacy. I was blown away by the fact that you wanted to help our country and be a hero of the middle class. Your "can do" patriotic attitude is infectious and has spread worldwide. Great!

I flew for Delta Airlines for 33 years after flying for the U.S. Navy for five years. I retired on the B-757/767. Of the many different types of aircraft that I flew, the B-757 was my favorite.

I am writing to you concerning an incredible betrayal that was achieved by Delta Airlines in regard to their Retired Pilots. Back in 2005, Delta went into bankruptcy about September 15th. Two days later they announced that the Retired Delta Pilots would no longer be getting a retirement check. Wow! This was a total surprise; but we thought it would only be temporary.

Many of the Retired Delta Pilots were getting 2 checks from 2 separate retirement accounts at Delta; the "qualified" account and the "unqualified" account.

In my case, after awhile the small check of about $2,000 per month began being paid to me again, but the big check of about $7,000 per month has never been paid to me since September 1, 2005.

It's going on 12 years now and the Retired Delta Pilots are out of money. At the time of bankruptcy I was turning 63. Even though I flew to the very last day before turning 60, I had to retire by federal law. After I turned 65, the law was changed and you could fly to 65.

As soon as Delta told us they were no longer going to pay us our retirement, I looked for work. Nobody wanted a 63 year old ex-pilot who did nothing but fly airplanes his whole life. The 3,000 plus other Retired Delta Pilots, almost all, had the same experience. No jobs for old guys.

Delta loved hiring ex-military pilots because of the package they brought. They were all college or academy  graduates, military trained, line officers, and they had excellent flying experience. In my class of 60 pilots in February 1970, there was one civilian pilot and 59 former military pilots.

Throughout our many years at Delta, the pilots were asked to take pay cuts by management several times and management promised they would make it up in the next contract. Management always gave us an adequate raise to more than make up for the pay cuts. In the early 1980's the pilots and other employees even bought Delta a B-767 because they were in bad financial shape at the time. We all chipped in.

President Trump, we have been waiting for Delta to make this right. Personally, Delta has failed to pay me more than one million dollars that I had been promised by contract for over 35 years. This was pay that I worked for and Delta promised to pay me every month until I died.

The formula (60% of final average earnings) was the same one used for everyone that worked at Delta prior to bankruptcy. The Delta Pilots were given an option to take about "half" of their retirement in a lump sum the day they retired. The other "half" would be paid monthly until the pilot died.

Delta issued "New Delta Stock" to me and the other Retired Delta Pilots about the time that they were emerging from bankruptcy. We thought this stock was something we could sell to keep us afloat until Delta was back on their feet; then, as they always did in the past, they would again "make things right" and continue paying us our monthly retirement. This turned out not to be the case.

Thousands of Retired Delta Pilots wrote Delta's CEO's and the Board of Directors telling them that it's time to pay the Retired Delta Pilots their retirement checks again. We were told there would be no more checks for the Retired Delta Pilots; even though all the other Delta Employees, including management, former Northwest Pilots, and everybody else that was due a retirement check was being paid every month.

A group of Retired Delta Pilots tried very hard to bring this nasty deed by Delta to light. There was no law firm that would touch it. The Atlanta Newspapers wouldn't write about it. The U.S. Senators from Georgia did not want to hear about it. Delta successfully got away with sweeping this huge injustice under the rug. Nobody cared about the pilots who went to fight our country's wars and then were mortally wounded by the company they dedicated their lives to. Too old to work, their final years are horrible. Broken Promises and an incredible betrayal! Wow!

In 2015 Delta had a profit of about $20 billion. $2 billion could have easily paid back the retirement money the pilots were promised. About $100 million annually would pay the Retired Delta Pilots their promised retirement. The $100 million would decrease as pilots die.

These are Military Pilots from WWII, Korea, Vietnam, The Middle East and wherever their service was required. There was no recovery from this injustice by Delta Airlines. A huge "Hidden" betrayal by a company whom they trusted and worked several decades for. Shameful!

President Trump, believe me, most of these U.S. Military Veterans are hurting badly today. Delta did them wrong and they need to be called to task on this.

With all due respect sir, the Retired Delta Pilots are begging you to gather these CEO's into the Oval Office and convince them that they need to treat these veterans with respect and pay them the retirement they are owed. The CEO's are Richard Anderson and Edward Bastien. They would not talk to us, but I think they would talk to you.

Thank you for your attention. I appreciate your help. As I said earlier, I've been with you since day one and I really admire your outstanding leadership in "Making America Great Again!"

Thank you!

Larry Rodammer

Lt. U.S. Navy

Captain Delta Airlines

Larry Rodammer

370 S.E. 13 Ave.

Pompano Beach, Fl 33060

llrodammer@aol.com

954-817-4343

 


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