Apparently American Airlines pilots are anticipating some down markets.  This last week 143 pilots retired to lock in their retirement benefits.

American Airlines Inc. said 143 pilots retired Thursday, an unusually high monthly number that the carrier says was caused by the falling stock market, as pilots decided to lock in the value of retirement plans.
 

In the past, the airline might average 20 to 25 pilots retiring each month as they reached age 60, the federally established age for mandatory retirement.

But Congress raised the limit to age 65 in December, throwing uncertainty into American's planning.

Pilots now can fly another five years, but the decline in the stock market in late 2007 and early 2008 apparently is causing a lot of pilots to take their money and run.

Pilots can lock in the value of their B Plan pension three months in advance of retirement and then choose on their announced retirement date to go ahead and retire or withdraw their notice.

With the stock market falling and at much lower values now than on Oct. 31, many more pilots who put in for retirement three months ago are carrying through with those intentions, the airline said.

American Airlines pilot retirement at DallasNews.com