Minimum Balance Plan
11-16-2022 | 07:42 AM
#281
Gets Weekends Off
Joined: Mar 2015
Posts: 13,227
Likes: 677
From: ir.delta.com
End of story? Really? We will be facing this dilemma shortly. You have 1 vote as do I.
11-16-2022 | 07:48 AM
#282
Gets Weekends Off
Joined: Mar 2015
Posts: 13,227
Likes: 677
From: ir.delta.com
Never once did I mention mountain bikes, hiking or sports cars.
I'm not sure what exposure or workload you were concerned about that drove you out of real estate. If you ask for advice vs making assumptions you would be surprised to learn how little time is spent on a properly structured portfolio. Landlording single family value add is for people with more time than money, but that is the assumption people make when they don't know the options. Owning apartments, self storage, NNN or pooling funds to be a hard money lender are what people with pilot sized income/assets do.
I'm not sure what exposure or workload you were concerned about that drove you out of real estate. If you ask for advice vs making assumptions you would be surprised to learn how little time is spent on a properly structured portfolio. Landlording single family value add is for people with more time than money, but that is the assumption people make when they don't know the options. Owning apartments, self storage, NNN or pooling funds to be a hard money lender are what people with pilot sized income/assets do.
11-16-2022 | 07:59 AM
#283
Gets Weekends Off
Joined: Dec 2007
Posts: 6,145
Likes: 204
Sent from my SM-S908U using Tapatalk
11-16-2022 | 08:00 AM
#284
Thread Starter
Can't abide NAI
Joined: Jun 2007
Posts: 12,078
Likes: 15
From: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler
Seems the company and ALPA are negating min balance before pay…
Originally Posted by Nov1 update
- Section 3 (Compensation) - The parties continued to make progress on ancillary items in this section. Delta’s current proposal, even in light of recent pilot contract news from other airlines,would keep our commitment to have industry-leading pilot compensation in terms of pay, profit sharing and retirement.Over the last several passes, both parties have focused on ALPA’s many ancillary asks in this section to try to clear them out before making any additional proposals on pay rates.Accordingly, neither party has made a new pay rate proposalsince late September.
11-16-2022 | 08:00 AM
#285
Gets Weekends Off
Joined: Apr 2018
Posts: 4,098
Likes: 462
Your hobby, yes that's an intentional term to show everything you espouse is outside the retirement section of our PWA. Your success is great and you have plastered these boards with your success for others to follow but that's not what we as Delta pilots have and continue to negotiate in our PWA. If I was on here advising powerball as a retirement plan it would be no different. Your advice and example is great for people, SHOULD THEY CHOOSE TO PURSUE IT. That outside investing should be done with outside fund or wages, not with retirement defined contributions provided by Delta.
11-16-2022 | 08:01 AM
#286
Line Holder
Joined: Oct 2014
Posts: 1,015
Likes: 13
I get it, you don't want anymore DC.
This is completely false. You already have optionality by the amount of funding you choose. The company can contribute up to 20% of $330,000 without any excess. If you choose to cause excess that's on you. I'm all for optionality but the reality is going to come out soon that the IRS is not on board with it. Then what? Is a "mandatory" deposit of overages you can determine really a bad thing. Most of us will find ways. I can save $81,000 in sheltered vehicles next year. And an unlimited amount if it goes into 529s. Some of that will be in conservative diversified income yielding assets. Does it matter if that small portion is in a MBCBP or another account? If you make $400K we are taking about $11,200 or 16% of 70,000 over the earnings cap. At 20% there no need to contribute anything and it's fully funded. If you're making $330,000+ then you are probably closers to retirement anyway and need to taper risk. Or you have already built your empire and a few thousand dollars a year isn't moving the needle.
This is completely false. You already have optionality by the amount of funding you choose. The company can contribute up to 20% of $330,000 without any excess. If you choose to cause excess that's on you. I'm all for optionality but the reality is going to come out soon that the IRS is not on board with it. Then what? Is a "mandatory" deposit of overages you can determine really a bad thing. Most of us will find ways. I can save $81,000 in sheltered vehicles next year. And an unlimited amount if it goes into 529s. Some of that will be in conservative diversified income yielding assets. Does it matter if that small portion is in a MBCBP or another account? If you make $400K we are taking about $11,200 or 16% of 70,000 over the earnings cap. At 20% there no need to contribute anything and it's fully funded. If you're making $330,000+ then you are probably closers to retirement anyway and need to taper risk. Or you have already built your empire and a few thousand dollars a year isn't moving the needle.
It’s also absurd that you claim just because the language is in section 26, that all of that money must be used for “retirement” exactly as dictated by you. As long as we have had the DPSP, pilots have received overages as cash. They can do whatever they want with that money. Sure it’s great to have some options if additional tax deferral would be beneficial, but that’s not the case for everyone. The VEBA would have confiscated all overages and died quickly once the pilot group figured it out. The MBCBP will suffer the same fate if mandatory.
11-16-2022 | 08:03 AM
#287
Gets Weekends Off
Joined: Mar 2015
Posts: 13,227
Likes: 677
From: ir.delta.com
Hate to break it to you but your entire 401k is already "locked up" and nope your DC contributions are not spendable cash other than the overage you cherish.
11-16-2022 | 08:05 AM
#288
Banned
Joined: Sep 2016
Posts: 8,831
Likes: 499
and now you desire to change those overage rules to benefit yourself, even to the detriment of others. Optionality is fine. Otherwise, it’s a single issue no vote
11-16-2022 | 08:07 AM
#289
Line Holder
Joined: Oct 2014
Posts: 1,015
Likes: 13
11-16-2022 | 08:09 AM
#290
Gets Weekends Off
Joined: Mar 2015
Posts: 13,227
Likes: 677
From: ir.delta.com
It's an entire separate section in the PWA. You should read it sometime, it's section 26 BTW. Keep up your credulity, your doing a great job.
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