Originally Posted by
89Pistons
AF OneWire,
1) Nobody has said that the compnay doesn't contribute the same amount.
2) You speak about the investment mix in a PRAP. I have my "safe" dollars in my PRAP in SGOV. It's liquid in my PRAP. It's accessible in my PRAP. I can borrow against it in my PRAP if I were buying another gome and needed some extar cash for a better down payment. Money in the PRAP and money in the CBP are not the same.
3) My vote on this is based on our overall UPA. We didn't ratify UPA23 with the thought of having to contribute more of our own dollars to max out our best "vehicle."
4) There isn't anyone here that does not want to leave more money for their heirs. We all do. But most of us want this language to be right. We're not trying to avoid leaving more money for our heirs. We all want the CBP. We want to get this language right because the effects of this will be permanent. Irreversible action switches are guarded for reason.
So it seems the main opposition people have is that now they would have to contribute some of their own dollars to the PRAP. Unless you like paying taxes every pilot should contribute to their PRAP. You are leaving a $23000 tax deduction on the table if you don’t.
Yes the CBP is less liquid. However the vast majority of your retirement $’s are still going toward the PRAP. So if you need to borrow from it (terrible idea BTW), you still can. In a year or two when the IRS gets around to it you can do the RHA thing if you want. For me (mid 40’s FO), the CBP is good opportunity to get 10s of thousands of dollars tax differed. I’d much rather have that than more RHA dollars. Most importantly it’s not some money grab from the rich WB captains as is being portrayed.