Split PS?
Heard a rumor about mgmt wanting to split the Profit sharing check with the first Half to deposit in October. I know this was done a few years ago so not out of the realm of possibility.
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I vote No!
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I believe they did that back in 2013 or 14. Not sure of the impetus for that.
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Originally Posted by crewdawg
(Post 2870297)
I believe they did that back in 2013 or 14. Not sure of the impetus for that.
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It was 2014, only remember as I was new on property and my check was $0.00
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This happened when American eliminated their pilots' profit sharing plans. It happened concurrently with our profit sharing check exploding into uncharted territory. We paid half in October and other half in February. We never did it again.
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If it gets the same amount of money partially into our hands sooner I don't really see a downside. I mean we get paid for Jan-Jun profit in October then Jul-Dec profit in Feb I'd say that's great. Either way you're going to end up with the same amount of money.
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Originally Posted by tennisguru
(Post 2870362)
If it gets the same amount of money partially into our hands sooner I don't really see a downside. I mean we get paid for Jan-Jun profit in October then Jul-Dec profit in Feb I'd say that's great. Either way you're going to end up with the same amount of money.
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Originally Posted by Delta2heavy
(Post 2870412)
It will affect your taxes for 2020 I believe as you will have more income with this profit sharing and last years
Delta will report higher compensation costs in 2019 and lower costs in 2020. This helps them hedge their bets against a downturn in 2020, by paying half of the profit sharing expense in 2019. 2019 has been a wildly profitable year, so they bean counters may be looking at expenses they can book against those record profits. |
Screws up my 401k and HSA planning. Already used my tax free 19K AND 6K respectively. Now my income will be higher than planned and no way to shelter that money. Next years money may/may not fill up my tax advantaged allotments.
Looks like the pay out date is not specified in the PWA so nothing to quibble over but my guess is my tax planning will change and there will be a lot of unplanned DPSP cash. |
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