Originally Posted by
Ted Striker
DAL has a DC plan and I believe it's 16%, IRS limits for 2017 $54,000. 2017 IRS 401K match limits $18,000.
Delta employee makes $225,000, DC plan company contributions at 16% = $36,000. Employee contributes 8% ($18,000) for a total of $54,000 per year only contributing 8%.
JetBue pilot making $225,000 no DC plan, contributes 8% for $18,000 with company match of $18,000 totaling $36,000.
Compound that over 20+ years and it's staggering.
*fyi this is purely my own thinking with no hard evidence backing it up, could be way off base here on how these actually work.
For the sake of accuracy, this is incorrect.
At JetBlue, the company will match 5%, and contribute an additional 8%. So IF you contribute 5% (let's say the max of $18,000), then the company's total contribution would be (on your example of a salary of $225,000) $29,250. So the total increase in your 401k would be $47,250.
We are still behind, and it is an area which really needs to be addressed in our contract. But your numbers are not accurate and are a bit misleading.