Originally Posted by
RedeyeAV8r
The difference above the IRS CAP is paid to us in cash and taxed at current rate.
Not a good deal
That's what I thought.
Well, your deal is MUCH better than our deal.
Since the 2006 contract - once a pilot reaches the IRS cap ups keeps the extra money!!! In other words, don't worry about being taxed on the difference because ups keeps ALL the difference.
The fact we gave that up is unfathomable to me! :-(