Profit Sharing Question from an AA guy
08-16-2019, 09:10 AM
#11
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Originally Posted by GivemeVSP
2018 Pre-Tax Income for the purpose of Profit Sharing was $6.7 Billion. This resulted in $1.3 Billion placed into the profit sharing plan for all eligible employees.
08-16-2019, 10:49 AM
#13
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Originally Posted by RonRicco
Our pool is essentially separate. The rest of the employees went to a different dynamic formula a couple of years back, but transitioned back to what we have. Ours is 10% of first 2.5 billion and then 20% over that if I recall correctly. Last year that equated to about 15% of your gross earnings (not counting previous profit sharing). It is expected to be higher this year with profits up.
Somebody else will jump in with the exact numbers I am sure.
Somebody else will jump in with the exact numbers I am sure.
08-16-2019, 11:25 AM
#14
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Originally Posted by WickedSmaht
There is one other work group that shares the same formula I believe. For the rest of Delta, the formula is the same.
08-16-2019, 12:09 PM
#15
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Originally Posted by crewdawg
Had a dispatcher on the JS that said they get whatever formula is better. So when everyone else dropped they kept the same as ours.
08-17-2019, 12:43 AM
#16
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Originally Posted by Denny Crane
I don’t see how that can be right. I find it very hard to believe 40% of profit over 2.5B goes to profit sharing.
The more I think about it....the total PS pool is 10% up to 2.5B and 20% over 2.5B. IIRC the pilot portion works out to be about a third of the total pool.
Denny
The more I think about it....the total PS pool is 10% up to 2.5B and 20% over 2.5B. IIRC the pilot portion works out to be about a third of the total pool.
Denny
08-17-2019, 02:45 AM
#17
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Originally Posted by LumberJack
How else can they have the same calculation as us without diluting our pool? It has to be two separate pools no? And they're using the same formula, so 20% and 40% is the only way I can make the math work.
With a different number of employees being paid at much different rates than us, they can't use a separate pool with the same formula and have the same resulting percentage of pay. And if all of our eligible earnings combined were used to determine pilots' pay percentage, we would have been affected by their program changes (and we were told we were not).
08-17-2019, 04:02 AM
#18
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Originally Posted by LumberJack
How else can they have the same calculation as us without diluting our pool? It has to be two separate pools no? And they're using the same formula, so 20% and 40% is the only way I can make the math work.
Another important point for the AA guy is our profit sharing is pensionable. If we get 16% this year the effective payout is above 18.5%. I am not aware of any other airline where PS is pensionable.
08-17-2019, 04:28 AM
#19
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Originally Posted by sailingfun
There are two pretax numbers often quoted. Our PS is based on the number before PS is subtracted.
Another important point for the AA guy is our profit sharing is pensionable. If we get 16% this year the effective payout is above 18.5%. I am not aware of any other airline where PS is pensionable.
Another important point for the AA guy is our profit sharing is pensionable. If we get 16% this year the effective payout is above 18.5%. I am not aware of any other airline where PS is pensionable.
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