Virgin America Latest and Greatest
#1421
Gets Weekends Off
Joined APC: Dec 2005
Posts: 8,902
#1425
Gets Weekends Off
Joined APC: Feb 2013
Position: Port Bus
Posts: 725
#1428
Line Holder
Joined APC: Mar 2008
Posts: 69
Yep.
Effective 4-1-15:
Capt
160
166
168
171
173
175
178
180
182
185
187
189
FO
52
85
98
104
109
113
116
118
120
123
124
125
Increase in 401k to 12% total.
First 7.5% is 125% matching on pilot's 6% contribution.
Remaining 4.5% is automatic and doesn't require pilot contribution (so if you contribute 0 you still get 4.5%). And, the 4.5% doesn't count toward IRS limits, so it's more like a DCP but within the existing 401k.
Profit sharing formula now based on pure earnings, no algebraic formula based on earnings + longevity (that they capped at 3 years last year).
Won't stop the upcoming(?) card drive, but may reduce some numbers.
I don't think anyone expected this!
Effective 4-1-15:
Capt
160
166
168
171
173
175
178
180
182
185
187
189
FO
52
85
98
104
109
113
116
118
120
123
124
125
Increase in 401k to 12% total.
First 7.5% is 125% matching on pilot's 6% contribution.
Remaining 4.5% is automatic and doesn't require pilot contribution (so if you contribute 0 you still get 4.5%). And, the 4.5% doesn't count toward IRS limits, so it's more like a DCP but within the existing 401k.
Profit sharing formula now based on pure earnings, no algebraic formula based on earnings + longevity (that they capped at 3 years last year).
Won't stop the upcoming(?) card drive, but may reduce some numbers.
I don't think anyone expected this!
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