Expand All  Collapse All

Transportation Dept Pilots Retirement Plan

This plan closed to new members effective January 1, 2008. There are no active members contributing to this plan.

The Transportation Department Pilots Plan (Pilots Plan) covers pilots and chief pilots employed by the Department of Transportation (DOT). The plan was established to meet the mandatory early retirement requirements of DOT pilots.

The Pilots Plan provides retirement, survivor and disability coverage. Once retired, you  receive a monthly retirement benefit for life with potential post-retirement increases. Depending on the option you select at retirement, your survivor(s) may be eligible to receive a lifetime benefit upon your death.


Unique Plan Features
With the exception of the plan features described below, the Transportation Pilots Retirement Plan follows the same provisions as the General Employees Retirement Plan.
 

Contribution Rate

There are currently no active members contributing to this plan. For historical purposes, here were the contribution rates:

  • Employee contributions: 7.35% of gross salary

  • Employer contributions: 7.475% of employee's gross salary

Normal (Full) Retirement Age

Age at which you can collect an unreduced (full) retirement benefit. Eligibility:

  • Age 62, or if prohibited from performing the duties of a pilot or chief pilot.

  • If hired before July 1, 1989: Rule of 90 (your age plus years of service must equal 90).

Early Retirement Age

Earliest age you can retire; however, your retirement benefit will be reduced:

  • Generally, age 55.

  • If hired before July 1, 1989: any age provided you have 30 years of service.

Mandatory
Retirement Age

 
Age 65, per Commissioner of Transportation policy
Disability
  • Must be under age 62 to apply for disability benefit. After age 62, it's considered a retirement benefit.
  • FAA must determine you are inelgibile to obtain a pilot's medical certification.
  • If under age 62 at time of disability, will receive 75% of pilot's salary for five year or until age 62, whichever is first. Salary is paid by the MNDOT.