DALPA C19 Survey
09-06-2018 | 10:36 AM
#221
Gets Weekends Off
Joined: May 2015
Posts: 7,292
Likes: 0
From: A350 Both
For you guys approaching retirement, the idea of deferring compensation 1-5 years (mentioned in the survey) might have some merit.
If you’re suggesting we cap Delta’s 16% at the 415c limit and then apply DPSP CASH towards some other plan (ie pension or annuity), I’m not in favor. That takes money that would be in your name and converts it into a promise that is no longer under your control. It would also effectively remove the “mega Backdoor Roth” strategy as a viable option.
If you’re suggesting we cap Delta’s 16% at the 415c limit and then apply DPSP CASH towards some other plan (ie pension or annuity), I’m not in favor. That takes money that would be in your name and converts it into a promise that is no longer under your control. It would also effectively remove the “mega Backdoor Roth” strategy as a viable option.
09-06-2018 | 11:24 AM
#223
Gets Weekends Off
Joined: Apr 2008
Posts: 2,206
Likes: 0
From: DAL FO
I get the desire to minimize taxes, but not at the expense of taking less now for a promise later from the company. We’ve seen how that works out.
Like trip said, max the DPSP. Max DPSP CASH, pay the taxes and invest it as you see fit.
More taxes means you’re making more money.
I don’t see anyone volunteering for a pay cut to minimize taxes. It’s the same philosophy in the other direction.
09-06-2018 | 06:07 PM
#224
Gets Weekends Off
Joined: Jul 2008
Posts: 5,576
Likes: 317
So you are saying if I call in sick for 25 hours in the beginning of the month and that takes me over 100 hrs sick leave and then call in well........then I subsequently call in sick for a 50 hour trip later in the month, I don't have to verify that 50 hr trip....
Denny
Denny
09-09-2018 | 12:48 PM
#225
Gets Weekends Off
Joined: Apr 2007
Posts: 5,539
Likes: 503
Bumping up the DC and putting the DPSP CASH into income producing real estate will do that for you. It becomes a tax favored asset that doesn't expose you to Delta's financial risk like many of the proposed plans do. My money in my name, no promises of a future payment that may be at risk. If you are close to retirement a NQDC plan with a short term time horizon may be a risk worth taking, but anything that is longer than a few years is too risky for a majority of the pilots.
09-10-2018 | 06:03 AM
#226
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Joined: May 2012
Posts: 1,418
Likes: 0
^^^exactly this. Why does anyone want to repeat this experiment?
I get the desire to minimize taxes, but not at the expense of taking less now for a promise later from the company. We’ve seen how that works out.
Like trip said, max the DPSP. Max DPSP CASH, pay the taxes and invest it as you see fit.
More taxes means you’re making more money.
I don’t see anyone volunteering for a pay cut to minimize taxes. It’s the same philosophy in the other direction.
I get the desire to minimize taxes, but not at the expense of taking less now for a promise later from the company. We’ve seen how that works out.
Like trip said, max the DPSP. Max DPSP CASH, pay the taxes and invest it as you see fit.
More taxes means you’re making more money.
I don’t see anyone volunteering for a pay cut to minimize taxes. It’s the same philosophy in the other direction.
$275,000 X .20 = $55,000
09-10-2018 | 07:17 AM
#228
Gets Weekends Off
Joined: May 2015
Posts: 7,292
Likes: 0
From: A350 Both
09-10-2018 | 07:21 AM
#229
Gets Weekends Off
Joined: May 2015
Posts: 7,292
Likes: 0
From: A350 Both
Bumping up the DC and putting the DPSP CASH into income producing real estate will do that for you. It becomes a tax favored asset that doesn't expose you to Delta's financial risk like many of the proposed plans do. My money in my name, no promises of a future payment that may be at risk. If you are close to retirement a NQDC plan with a short term time horizon may be a risk worth taking, but anything that is longer than a few years is too risky for a majority of the pilots.
I don't have anywhere near enough information on these various proposals so I am not committed to any of them. I do know that my tax bill when I retire will not be significantly less than it is now, so adding to my current tax bill might not be the best plan for me. What I hope the MEC comes up with are options and not an all or nothing plan that incorporates either all of us or none of us. That would truly suck.
09-10-2018 | 07:45 AM
#230
Gets Weekends Off
Joined: Dec 2007
Posts: 6,148
Likes: 208
I have passed the time where I want to be messing around with real estate. I'm just not interested in the hassles of renters, maintenance and all that stuff. If I had it to do over again, I would have bought a rental property with my ROTH IRA and had all that profit go in to my retirement account tax free (dyodd btw on that).
I don't have anywhere near enough information on these various proposals so I am not committed to any of them. I do know that my tax bill when I retire will not be significantly less than it is now, so adding to my current tax bill might not be the best plan for me. What I hope the MEC comes up with are options and not an all or nothing plan that incorporates either all of us or none of us. That would truly suck.
I don't have anywhere near enough information on these various proposals so I am not committed to any of them. I do know that my tax bill when I retire will not be significantly less than it is now, so adding to my current tax bill might not be the best plan for me. What I hope the MEC comes up with are options and not an all or nothing plan that incorporates either all of us or none of us. That would truly suck.
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