Originally Posted by
iahflyr
I’m sorry, I just have to respond to this. Of course we always want more, more, more. I get that. But 16% DC is somewhere we are extremely well compensated.
In most other professional industries, we would be getting more like 4% DC and a 4% match. 16% DC is as generous as any industry ever gets.
If 16% DC isn’t enough, then you can contribute an extra $20,500 tax free into your 401k (plus an extra $6,500 a year once you hit age 50). Still not enough? Then save it post tax via other investments (stock, real estate, etc…). How bad must your financial management be that you can’t handle a 250k+ a year job and not save a little for retirement.
There are definitely things we should ask for in a new contract. Adding to 16% DC isn’t anywhere on the list.
You certainly are sorry, that is the only part of your post that is correct. Mgt. walks away with tens of millions when they leave after a few years. Scott & Co. will be no different. We are left holding the bag and scrambling to make ends meet. We can’t just work a little longer, or move on to the next airline like MGT. or other work groups do if things don’t work out and we don’t have enough saved.
16% of a shrinking dollar is not what it used to be just a year ago. Retirement improvements are definitely on the list.