Originally Posted by
APC225
I really doubt it’s even mechanically possible to do it faster than 3 or 4 business days. Cash is deposited on payday, but PRAP deposits probably have to run through a different IRS pre screening I would think to make sure that whatever is done doesn’t have to be undone if it were done in error. That would add a business day. When the PRAP pings back that it’s full then another business day to authorize a RHA deposit, then another to send it over. I don’t see how they or the union could speed this up.
Nothing “pings back”. The determination of statutory account funding is done on the previous payment and all future payments are based on that. It you have reached your limit, you will have received an email after the last pay period deposit.
Just like the B, C fund payments, and the company RHA payments, the capability exists for the company to make the deposits on the first business day following the “pay date”. Refer to your RHA account record and you will see the 80~ dollars each month is deposited on time. That’s all chump change, and at the discretion of the company.
They have no reason to make the big money deposits, promptly.
Btw, this all came to me from a fellow pilot who is an investment advisor, that was looking into his account and had corresponded with the R&I committee, last year. He showed me the email string.
So if there are a 1000 pilots in this same boat, that amounts to 2.5 million the company is holding back. It sounds like some of you are just fine with that..
Well, at least it isn’t and ugly tie.
