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Old 03-30-2014, 06:05 AM
  #1511  
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Originally Posted by hockeypilot44 View Post
Delta puts 15 percent of your salary in. If you can afford to max out (17,500 per year), do it. Putting in your own money doesn't get you any more money from Delta, but it is the smart thing to do.
Good to know...thanks much.
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Old 03-30-2014, 06:43 AM
  #1512  
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Originally Posted by ColdUpHere View Post
I've got a couple questions about Delta's 401K.

1. On the Delta website, it says, "A 401(k) plan with a fixed 2% company contribution and a match up to 5%." But...I've also heard Delta puts 15% of your paycheck into a 401K with no matching required. Which is it?

2. What do most guys do for matching? Do you just let Delta contribute and not match? Or do you max out your personal contribution?

Thanks!
Delta puts 15 percent of your salary in. If you can afford to max out (17,500 per year), do it. Putting in your own money doesn't get you any more money from Delta, but it is the smart thing to do.
I know it's been asked before but does that 17,500 include what delta puts in? Or our own contribution. Thanks

And on crash pads. Do any have private rooms? The hotel thing seems pricey. I am planning to drive down after Indoc. Are they regular crew pads or mostly people in training.
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Old 03-30-2014, 06:50 AM
  #1513  
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Originally Posted by Paok View Post
I know it's been asked before but does that 17,500 include what delta puts in? Or our own contribution. Thanks

And on crash pads. Do any have private rooms? The hotel thing seems pricey. I am planning to drive down after Indoc. Are they regular crew pads or mostly people in training.
$17,500 is your personal contribution limit. The 15% DC contribution from delta is separate.
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Old 03-30-2014, 07:07 AM
  #1514  
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Originally Posted by ColdUpHere View Post
I've got a couple questions about Delta's 401K.

1. On the Delta website, it says, "A 401(k) plan with a fixed 2% company contribution and a match up to 5%." But...I've also heard Delta puts 15% of your paycheck into a 401K with no matching required. Which is it?

2. What do most guys do for matching? Do you just let Delta contribute and not match? Or do you max out your personal contribution?

Thanks!
The 2 and 5 are for non contract employees. Pilots get a flat 15 percent. You are not required to contribute to get the 15.
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Old 03-30-2014, 07:20 AM
  #1515  
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Originally Posted by LeineLodge View Post
$17,500 is your personal contribution limit. The 15% DC contribution from delta is separate.
To roughly clarify without looking anything up, the IRS 415c limit is $52000 for the retirement plan. If you are over 50, you can add a $5000 catch up contribution to that for a total of $57k (this extra $5k isn't accounted for in the explanation below).

Your personal pretax limit on what you can contribute is $17500 towards the $52k limit...
DAL does a 15% contribution which is separate and independent of what you contribute...except the grand total of yours and theirs has to come in under the 415c limit of $52k.

If you do the math, to max out your 401 to the 415c limit, you would make your full 17500 contribution and the company would max out their share ($34500) if you made more than $230k+/-

That is about as simplified as I can get...there are other issues if you make more, but in those cases, you should max out your pretax contribution earlier in the year.
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Old 03-30-2014, 07:46 AM
  #1516  
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How is per diem calculated for trips?
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Old 03-30-2014, 07:50 AM
  #1517  
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Originally Posted by scambo1 View Post
To roughly clarify without looking anything up, the IRS 415c limit is $52000 for the retirement plan. If you are over 50, you can add a $5000 catch up contribution to that for a total of $57k (this extra $5k isn't accounted for in the explanation below).

Your personal pretax limit on what you can contribute is $17500 towards the $52k limit...
DAL does a 15% contribution which is separate and independent of what you contribute...except the grand total of yours and theirs has to come in under the 415c limit of $52k.

If you do the math, to max out your 401 to the 415c limit, you would make your full 17500 contribution and the company would max out their share ($34500) if you made more than $230k+/-

That is about as simplified as I can get...there are other issues if you make more, but in those cases, you should max out your pretax contribution earlier in the year.
Is this all one account that DAL and personal pretax dollars go into and imagine you can choose options on how it is invested?
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Old 03-30-2014, 07:52 AM
  #1518  
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Originally Posted by gr8vu View Post
How is per diem calculated for trips?
You are paid the hourly rate from sign in to release at the end of the trip. Company pays for hotels.
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Old 03-30-2014, 07:58 AM
  #1519  
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Originally Posted by gr8vu View Post
Is this all one account that DAL and personal pretax dollars go into and imagine you can choose options on how it is invested?
Scambo's explanation was much better than mine.

The company DC money and your contributions both end up in a Fidelity account which has a ton of options for how you want to invest. You also have the option of making Roth contributions which are post tax. Some guys will go that route so they will have both pre/post tax $ available in retirement. Everyone's situation is different and a lot depends on your personal view of where tax rates will be in the future vs your likely tax bracket, etc.
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Old 03-30-2014, 07:58 AM
  #1520  
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Originally Posted by gr8vu View Post
Is this all one account that DAL and personal pretax dollars go into and imagine you can choose options on how it is invested?
Yes it is, and yes you can.
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