Atlas Air Hiring
08-10-2013 | 08:59 AM
#6471
Gets Weekends Off
Joined: Nov 2010
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Hi all, question about retirement. It appears that you can contribute up to 10% and company will match half, so up to a 5% company contribution to a 401K. Is there profit sharing or possibly some type of ESPP? Also, do you think retirement benefit increase will be a priority on the next round of negotiations?
08-10-2013 | 09:18 AM
#6472
Gets Weekends Off
Joined: Nov 2012
Posts: 264
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Hi all, question about retirement. It appears that you can contribute up to 10% and company will match half, so up to a 5% company contribution to a 401K. Is there profit sharing or possibly some type of ESPP? Also, do you think retirement benefit increase will be a priority on the next round of negotiations?
Profit Sharing is paid directly annually and is a percentage of salary as I understand it. To be eligible one must have been employed for ALL of the previous year, so those hired in January 2013 won't get PS until 2015.
Can't predict what may be a priority for improvement, at least not from my vantage point.
08-10-2013 | 09:39 AM
#6473
Gets Weekends Off
Joined: Sep 2005
Posts: 466
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From: Left Seat
A better example, hired Oct '12, you will get profit sharing for Nov '13 and Dec '13 pay in the 2014 distribution of 2013 profit sharing.
08-10-2013 | 10:36 AM
#6474
Gets Weekends Off
Joined: Nov 2012
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I did not mean to mislead, only sharing as I understood from the explanation we were given. I appreciate the clarification.
Unfortunately, if I now understand correctly it is even worse. If hired Feb. 2013, PS would be first paid in 2015, but NOT for all of 2014, just March to December, the months following one full year of service?
Unfortunately, if I now understand correctly it is even worse. If hired Feb. 2013, PS would be first paid in 2015, but NOT for all of 2014, just March to December, the months following one full year of service?
08-10-2013 | 11:15 AM
#6475
Line Holder
Joined: Mar 2011
Posts: 95
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From: At the handlebars
I did not mean to mislead, only sharing as I understood from the explanation we were given. I appreciate the clarification.
Unfortunately, if I now understand correctly it is even worse. If hired Feb. 2013, PS would be first paid in 2015, but NOT for all of 2014, just March to December, the months following one full year of service?
Unfortunately, if I now understand correctly it is even worse. If hired Feb. 2013, PS would be first paid in 2015, but NOT for all of 2014, just March to December, the months following one full year of service?
In your example, hired Feb 2013, you would begin profit sharing March 2014 and receive first distribution on or before April 2015 (for your March 2014 - Dec 2014 employment).
Last edited by OSAVIP; 08-10-2013 at 11:17 AM. Reason: ....
08-10-2013 | 09:58 PM
#6476
Gets Weekends Off
Joined: Nov 2012
Posts: 264
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That's not worse, it's better. You do NOT need to be employed for the entire calendar year to receive profit sharing. After your 1st year of employment, you begin profit sharing immediately.
In your example, hired Feb 2013, you would begin profit sharing March 2014 and receive first distribution on or before April 2015 (for your March 2014 - Dec 2014 employment).
In your example, hired Feb 2013, you would begin profit sharing March 2014 and receive first distribution on or before April 2015 (for your March 2014 - Dec 2014 employment).
08-11-2013 | 06:55 AM
#6477
Gets Weekends Off
Joined: Sep 2005
Posts: 466
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From: Left Seat
When in doubt, do some research. The Plan (2008) is available on the union website.
"An eligible employee will participate in the plan starting on the first month following his or her one year anniversary as a full time employee."
"An eligible employee will participate in the plan starting on the first month following his or her one year anniversary as a full time employee."
08-11-2013 | 05:01 PM
#6480
New Hire
Joined: Oct 2012
Posts: 8
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