Allegiant Air
07-06-2016 | 07:41 AM
#3511
Line Holder
Joined: Jan 2016
Posts: 84
Likes: 0
Barley is correct, guys. Regardless how the matching works, the maximum the company will put in is 5% of salary. Earn 100k, company will put in max 5,000. Earn 200k, company will put
in max 10,000. Earn 50k, company put in max 2.5k.
Overall, the retirement offer for your TA is pretty bad.
in max 10,000. Earn 50k, company put in max 2.5k.
Overall, the retirement offer for your TA is pretty bad.
07-06-2016 | 07:44 AM
#3512
Line Holder
Joined: May 2014
Posts: 54
Likes: 0
From: Left seat
Correct me if I'm wrong, the company will contribute 200% for the first 5% employee contribution. So for a $200k pilot:
$200k at 5% = $10000
200% of $10000 = $20000
That's the max. If said pilot contributes 10%, still gets $20k.
$200k at 5% = $10000
200% of $10000 = $20000
That's the max. If said pilot contributes 10%, still gets $20k.
07-06-2016 | 07:57 AM
#3513
Line Holder
Joined: Mar 2011
Posts: 38
Likes: 0
From: Bus Driver
This is correct.
Unbelievable that we've devoted 2 pages of this thread to this.
07-06-2016 | 08:24 AM
#3515
Line Holder
Joined: Jun 2016
Posts: 28
Likes: 0
"With respect to each employee who elects to make employee elective deferral contributions, the Company will pay a matching contribution into the Pilot’s 401(k) account on a two hundred percent (200%) basis up to the first five percent (5%) of such employee’s pay."
This could be up for interpretation depending on how you read it. "Up to", to me could be considered no more than...if up to 5% is the max the employer would contribute 200%, then we would only be matched on a max of 2.5%. Maybe...
This could be up for interpretation depending on how you read it. "Up to", to me could be considered no more than...if up to 5% is the max the employer would contribute 200%, then we would only be matched on a max of 2.5%. Maybe...
07-06-2016 | 08:27 AM
#3516
Line Holder
Joined: Jun 2016
Posts: 28
Likes: 0
"With respect to each employee who elects to make employee elective deferral contributions, the Company will pay a matching contribution into the Pilot’s 401(k) account on a two hundred percent (200%) basis up to the first five percent (5%) of such employee’s pay."
This could be up for interpretation depending on how you read it. "Up to", to me could be considered no more than...if up to 5% is the max the employer would contribute 200%, then we would only be matched on a max of 2.5%. Maybe...
This could be up for interpretation depending on how you read it. "Up to", to me could be considered no more than...if up to 5% is the max the employer would contribute 200%, then we would only be matched on a max of 2.5%. Maybe...
07-06-2016 | 08:35 AM
#3517
Line Holder
Joined: Mar 2011
Posts: 73
Likes: 0
07-06-2016 | 08:44 AM
#3518
Line Holder
Joined: Jun 2016
Posts: 28
Likes: 0
07-06-2016 | 08:47 AM
#3519
Line Holder
Joined: Jun 2016
Posts: 28
Likes: 0
"With respect to each employee who elects to make employee elective deferral contributions, the Company will pay a matching contribution into the Pilot’s 401(k) account on a two hundred percent (200%) basis up to the first five percent (5%) of such employee’s pay."
I would feel more comfortable if the last word of this section was contribution and not pay.
I would feel more comfortable if the last word of this section was contribution and not pay.
07-06-2016 | 08:50 AM
#3520
Banned
Joined: Dec 2009
Posts: 3,655
Likes: 0
From: Narrow/Left Wide/Right
Is the match designed to save a few coins on the backs of the junior pilots who might even find contributing 5% a bit confining at the beginning of their career, hence the company is off the hook completely?
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