Originally Posted by
nene
This is the way it's at Delta, you find out the %of earnings to be paid as PS on Valentines day and then you can elect what % or $$ amount you want to flow to your 401K. You can elect all or none or anything in between.
Whatever you choose though basically just "pre funds" your 401K for the year as soon as you hit the limits for the year you start getting all DC contributions as cash for the rest of the year.
So if you take the PS as cash, you get it post tax and spend on whatever.
If you dump into 401K you get the whole thing put in but you'll max out way earlier in the year for contributions (depending on size of the PS of course).
Hope you all spread the loss into 2023 so there's still some PS to spread around for 2022 at SWA!
IMHO, this is another way for the company to drive wedges into the pilot group to build fissures. This way management can have more avenues towards their 50.1% vote.
They did the same thing with vacation bidding. They said they were ok changing from the status quo of bidding all 5 weeks in the first round for the senior pilots, so swapa took a vote and opened an issue within the pilot group. Only after the vote did the company crawfish and refuse to implement the voted in change.
they play chess