Originally Posted by
Wasatch Phantom
Seventeen years later I'm an A-320 Captain and my hourly rate is $175.00 an hour. Because I'm a dead zoner I contribute 25% to my retirement (including the over 50 catch-up contribution). That makes my effective rate $131.25. (And I'm not getting into the degradation of our medical plan ...)
Since you are subtracting money that you are being paid and putting into savings, then in fairness, shouldn't you also add the money that is given directly to you in savings?
14% of your $175.00 goes into your DC/401K so doesn't that make your "new" rate $199.50 & your "effective rate" $149.63?
Just sayin' .....