New Voluntary Early Out Program with Lump Sum Option, and application deadline for all options extended to April 6
Based on team member feedback, we are adding an option under the special Voluntary Early Out Program (VEOP) that would allow eligible domestic, U.S.-based team members to separate from the company at their VEOP election date, instead of staying on payroll for 12 months. This option would give team members the ability to start their pensions if eligible, or access other financial options that are prohibited while considered an active American Airlines team member.
Team members must meet the special VEOP eligibility requirements:
- Active domestic, U.S.-based frontline team members (except pilots) with 10 years of active service
- Active domestic, U.S.-based leadership and support staff who meet the 65-point plan eligibility (at least 10 years of active service (YOS) and age + YOS = at least 65)
Voluntary Early Out Program with Lump Sum
If selecting this option, team members would separate from the company on the effective date of their VEOP and would receive the following:
- Pay: Approximately 50% of one year of base wages, not including premium pay, overtime, shift differentials, etc., would be paid via a lump sum next year, no later than March 15, 2021.
- Flight Attendants: 50% of Guarantee (38 hours)
- Dispatchers: 50% of minimum monthly salary
- Flight Crew Training Instructors: 50% of standard monthly schedule requirement
- All other represented team members: 20 hours of pay per week for full-time and 10 hours of pay per week for part-time
- Leadership and Support Staff: 50% of annual salary
- Medical: Team members would receive 30 months of medical, dental and vision coverage at the same rates paid today and with the same coverage administered through COBRA. Team members would simply pay for their coverage through the Benefits Service Center. For those eligible for Medicare, the COBRA coverage would run secondary to Medicare.
- Travel: Team members would enjoy retiree travel privileges, if the 65-point plan eligibility requirements are met (at least 10 years of active service (YOS), and age + YOS = at least 65) at time of separation.
- Sick & Vacation: Any accrued and unused vacation and/or sick would be paid as per each respective workgroup policy or collective bargaining agreement.
The deadline for all special voluntary leave and retirement options has been extended to Monday, April 6, at 11:59 p.m. CT. Team members can access additional details and apply online via Jetnet. If a team member has already elected the VEOP on Payroll and would like to change to the VEOP with Lump Sum, they will need to resubmit their election via Jetnet.