Changes to retirement funding
05-03-2018 | 08:16 AM
#31
Gets Weekends Off
Joined: Mar 2016
Posts: 1,906
Likes: 0
From: Here and there
It's pretty clear to me this is just lip service being paid to those most vocal and closest to retirement. Along with a bump in DC, I believe our focus should be on much improved active and retiree healthcare plans. Those are worth a real struggle and will have a much longer positive impact on the pilot group.
05-03-2018 | 08:20 AM
#32
Line Holder
Joined: Nov 2013
Posts: 419
Likes: 1
From: Taxi Driver
50% of our pilots max out their 401k (Company and personal contributions.)
The excess 415c is taxed as ordinary income. It would be a nice feature if this were somehow tax-sheltered.
As long as the DC remains untouched or is bumped up to 20%, I'm fine with thinking outside the box.
The excess 415c is taxed as ordinary income. It would be a nice feature if this were somehow tax-sheltered.
As long as the DC remains untouched or is bumped up to 20%, I'm fine with thinking outside the box.
05-03-2018 | 08:58 AM
#34
New Hire
Joined: Jan 2015
Posts: 798
Likes: 3
From: Concourse A
It's pretty clear to me this is just lip service being paid to those most vocal and closest to retirement. Along with a bump in DC, I believe our focus should be on much improved active and retiree healthcare plans. Those are worth a real struggle and will have a much longer positive impact on the pilot group.
05-03-2018 | 09:41 AM
#35
Roll’n Thunder
Joined: Oct 2009
Posts: 5,117
Likes: 535
From: Pilot
Absolutely! Outside of scope/ work rules , current medical plans and retirement medical are my highest priorities. Medical would have a huge impact going forward for the growing younger pilot group demographic. I don’t think much negotiating capital would be wasted to make this happen either IMO.
05-03-2018 | 11:50 AM
#36
Gets Weekends Off
Joined: May 2012
Posts: 1,418
Likes: 0
The problem with all of this is that there is one pot of money in a contract. ~$350-400M +\- a year. We divide it up anyway we want to. If there is more money going to a “new pension” there is less, or no, money going somewhere else.
I’d rather just have a larger percentage in the DC plan.
I’d rather just have a larger percentage in the DC plan.
05-03-2018 | 12:16 PM
#37
Underboob King
Joined: May 2005
Posts: 4,412
Likes: 0
From: Guppy Commander
I believe the company can put in a max of 44,500ish so you'd have to put in about 10,000ish to max it out but yes it should be 20% to hit that number sooner and thus get the rest in cash after maxing out.
05-03-2018 | 12:22 PM
#38
Underboob King
Joined: May 2005
Posts: 4,412
Likes: 0
From: Guppy Commander
The problem with all of this is that there is one pot of money in a contract. ~$350-400M +\- a year. We divide it up anyway we want to. If there is more money going to a “new pension” there is less, or no, money going somewhere else.
I’d rather just have a larger percentage in the DC plan.
I’d rather just have a larger percentage in the DC plan.
05-03-2018 | 12:35 PM
#39
Thread Starter
Line Holder
Joined: Mar 2012
Posts: 458
Likes: 1
From: 320B
The problem with all of this is that there is one pot of money in a contract. ~$350-400M +\- a year. We divide it up anyway we want to. If there is more money going to a “new pension” there is less, or no, money going somewhere else.
I’d rather just have a larger percentage in the DC plan.
I’d rather just have a larger percentage in the DC plan.
05-03-2018 | 12:49 PM
#40
Gets Weekends Off
Joined: Nov 2011
Posts: 4,556
Likes: 11
no. right now its 44,000 because of the 275k income cap, the same 275k income cap @ 20% is 55,000.
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