Originally Posted by
Roadkill
Ok, I could use a little help with these retirement plans... I have FOUR plans showing up at Fidelity, only two of them have $$ in them. I'll admit it, I'm confused as to what these plans are, why some have $$ and others don't. Please be gentle, I never had a 401k or pension or DC or any of this in the military, and the shorthand names for these things in all my reading is just confusing me more. Can anyone give a brief rundown on why 4 plans exist with two empty?
Thanks
1. Delta Pilots Defined Contribution Plan (401k) -- has $$ in it, got $300 in 2012 so far.
2. Delta Pilots MPPP (401k) -- has $0 in it.
3. Delta Pilots Plan (401k) -- has $$ in it, got $50 in 2012 so far from employer contributions.
4. Delta Air Lines, INC. (401k) -- has $0 in it, no contributions
I keep reading " the Delta Pilots Plan" or "the DC plan", which don't match any of these names exactly... thanks.
It depends which pre-merger group you are in, and then if fNWA it depends on WHEN you were hired.
I'll do my best:
1. Delta Pilots Defined Contribution Plan (aka DC Plan): For me, this is 9% in 2012 (I'm fNWA hired after the pensions were frozen) This can go a few percent this year depending on some funding level of the MP3 plan, but I don't really understand how tha works. I have a note to myself to look at this again in July as I think that's the first date the funding levels are reviewed for a contribution increase.
2. Delta MPPP (aka MP3, or NWA MP3): as previously described, this was a money purchase plan for fNWA guys. I'm not up on the details as it doesn't apply. If you don't fall into that category, don't worry about it.
3. Delta Pilots Plan (aka DPSP or Delta Pilots Savings Plan): For me is 2% this year, again as a 2008 hire. I'm not looking at my account right now, but I from memory I think this is also the account that my "employee" contributions go into.
4. Delta Air Lines Inc 401k: no idea on this one. Maybe some corporate type retirement acct that is somehow showing on your page.
All of this is broken down in the PWA under retirement, although it is somewhat hard to decipher. The first thing you need to do is find the appropriate section (again by pre-merger company and then by hire-date) and then figure out what contribution rates apply to you.
If you have any more questions call the MEC office at 800-USA-ALPA and you'll get a more informed answer than I can give
