Originally Posted by
bohicagain
650,000,000 for all of us. 10% on the first 2.5 is 250 million + 20% on the next 2 billion is 400 million.
Now I have no clue how they split that up
I believe the Pilots get 1/3 of that (1/3 of the $650M). You would have to go back and find last year's number to see what that translates to, as a % of our total pay.
The number I keep seeing thrown around is about 16% of your W2 total, (for pilots) minus the 5% we already got, so on Valentine's Day 2015, we should see about 10-11% as a PS payout.
10% is an easy number to figure, even for you mathematically challenged guys, and be sure you tip your hat to Uncle Sam by paying the AMT when you do your income taxes, this year and next.
What would be sweet is if we could put ALL of it, tax deferred, into our retirement funding, rather than paying 35% of it back to Uncle, but since the cap is so low, you WILL be paying for someone else's Obama Phone.
