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View Full Version : 401K/Retirement


SeaTurtle
09-13-2016, 01:17 PM
I work for one of the top corporate aviation departments my management tells me. I'm wondering what I should expect the 401K/Retirement from such a top department should be.

Can anyone help me answer that?

Thanks,

SeaTurtle


Otterbox
09-13-2016, 01:45 PM
I work for one of the top corporate aviation departments my management tells me. I'm wondering what I should expect the 401K/Retirement from such a top department should be.

Can anyone help me answer that?

Thanks,

SeaTurtle


The unions at the majors seem to be fighting for 16%+ company direct contribution outside of pay.

Unfortunately, you'll probably find your 401k is in line with company benefits package for the rest of its employees... At a lot of companies that's about a 5% match and not a direct contribution. I wouldn't get my hopes up about getting some deal beyond what the rest of the employee group gets.

G550av8r
09-13-2016, 02:00 PM
Corporate aviation is currently way behind the curve in this department when compared to the majors. They will have to make some adjustments in the near future in order to retain and bring up talent.


Likeabat
09-13-2016, 03:54 PM
Corporate aviation is currently way behind the curve in this department when compared to the majors. They will have to make some adjustments in the near future in order to retain and bring up talent.

Hence the airline applications I've recently completed.

SeaTurtle
09-14-2016, 09:15 AM
Thanks guys for the replies. That is in line with what little I have been able to find out. I did get picked up by Southwest and I wanted to let them know in the exit interview in a nice way that I couldn't plan to ever retire by staying.... My time in the corporate world has been good, but....time to move on.

SeaTurtle

Qotsaautopilot
09-15-2016, 12:14 PM
Great job. If the southwest agreement in principle gets a passing vote you will see a 15% defined contribution by the end of its term. Corporate America needs to get it together. It's impossible to save the amount you need for retirement with these small matching plans. Profits profits profit, where do they go because Americas employees sure aren't seeing them.

cgtpilot
09-15-2016, 05:21 PM
The unions at the majors seem to be fighting for 16%+ company direct contribution outside of pay.

Unfortunately, you'll probably find your 401k is in line with company benefits package for the rest of its employees... At a lot of companies that's about a 5% match and not a direct contribution. I wouldn't get my hopes up about getting some deal beyond what the rest of the employee group gets.

United has had a 16% B fund since the 2000s bankruptcy contract.