Thread: Delta Hiring News
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Old 10-22-2013 | 09:47 AM
  #2098  
orvil
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Joined: Oct 2010
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From: Decoupled
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Originally Posted by czam
Just curious how the 401K plan works at Delta.
What company manages the plan and is there a good selection of funds available to choose from? Is there a self directed component available?
Also, how do the contributions (2% and 12%?) get distributed for you high earners that exceed the annual 401K contribution limits?
Thanks

Delta has a great 401(k) plan. It is managed by Fidelity. 15% of your salary is placed into your account, no cap other than the legal limit. I think the limit is $51,000 per year. No is match required. You can payroll deduct an additional $17, 500 per year into the account, too.
The DC Plan and the 401(k) are being merged after the first of the year into one account. Another recent improvement is the ability to authorize third party managers. You do have to pay the expenses out of pocket, however. You can open a Brokeragelink account and trade stock, ETF’s, mutual funds and limited option strategies. You can also contribute to a 401(a) (post tax account) or a Roth IRA.
If you are fortunate enough to bump up to the annual limit on contributions, the excess will be paid to you via payroll with the appropriate taxes withdrawn.
All of this is in your own name. There are a lot of things that I am critical about, but our 401(k) contributions after the bankruptcy is a single good thing.
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