If I am errant I will certainly admit it, but I keep thinking that one cannot say that any pilot group (or work group for that matter) is unduly (either high or low) paid until one can accurately state what that market rate exactly is. Just saying "it is too much" does not cut it here
Do not shoot the messenger Fred.
One of the indications on the news today was that AMR was burdened with 31% of their total operating expenses for retirement benefits.
UAL, DAL, NW took bankruptcy for the generally same reason.
This appears to be probably one of the main issues to declare bankruptcy from where I see it.
That is a lot of revenue to be generated above other operators and be profitable in a cost competive market.
The wages in themselves appear to be relatively close to other mainline carriers.
Many of the other carriers seem to be in the 401k camp for retirement but I do not know to what extent what each airline makes additional contributions.