Originally Posted by
MoonShot
So, does anyone care to explain how the profit sharing works? I read through the PWA but it doesn't really explain how DALPA divides its % of the $. Looking for a ballpark # for a 3 year FO. Also, is a check issued or can you elect some or all of the $ into the retirement account pretax? I'm reading Mar-Apr 2011 for the $?
Hopefully record profits will continue through 2012 negotiations and beyond.
From PWA Section 3. I.
Basis of award: Individual employee’s annual compensation in the year in which the PTIX (pre-tax income) was earned as a percentage of total annual compensation for that year for all eligible employees.
Type of payment: Cash (meaning it goes in just like a paycheck)
Pensionable: Yes (meaning you get DC contributions on top of the profit sharing on the same basis as you receive for other wages)