Originally Posted by
ShutUpNFly
All good points OldFlyGuy. Concerning the "we get 4% more DC" I was under the impression the Delta DC was capped at the 401k Federal limit of $18K. Our 12% DC is capped at $265,000 of earnings which equates to $31,800.
Based on 2016 IRS limits, the employee can only contribute 18k. The company can contribute until the combined = 53k. Anything over and above that comes back to us as regular taxable pay.
Originally Posted by
ShutUpNFly
I guess to each their own. The UPS guys retiring today over age 60 are mostly 1988 hires with 27 - 28 years of service. $4,000 x 28 sounds like $112K per year plus the hopefully 7 figures in their DC from the 12% over their career.
I am truly happy for the UPS and FedEx guys having their pensions. I hope you guys keep them and don't have to give away a lot to keep it. However, a lot of guys don't want negotiating capital spent on something that is not in our name and can easily be taken (or given away) from us. I agree with that, I have no desire for a pension. Things I would like to see is greater 401k contribution or having my 401k filled up at the beginning of the year.