Thread: Retirement pay
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Old 05-24-2024 | 03:43 AM
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atpmax
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From: tech ops 737
Default Retirement pay

How does retirement pay structure work. The APC synopsis is a little confusing. What is the actuall 401k match? Defined contribution?? Vesting requirements?

APC says;
401K:

January 1, 2022, 401K match is now 59% up to 80% of eligible compensation. Contributions above 20% will be matched with a one time 'true-up' the following February.

Increases to 60% in Jan 2023 and 1% per year through Jan 2026.

33% of all pay earned as part of the Flight & Duty Pay Program will be deposited into a pilot’s 401(k) as a non-discretionary contribution; participation is not optional.



401K Matching: Yes


What compensation is "eligible"?

Does this mean that if I contribute my max $30,500 annual contribution then NJ will contribut 60% ($18,300) plus 33% of my FDPP? what is a good average for FDPP one could expect to earn?
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