MBCBP implementation announced…
05-29-2023, 05:18 AM
#171
Roll’n Thunder
Joined APC: Oct 2009
Position: Pilot
Posts: 3,552
Originally Posted by Jughead135
I read it that one cannot make an in-service withdrawal at all if the account is upside down….
05-29-2023, 07:51 AM
#172
Gets Weekends Off
Joined APC: Jul 2010
Position: window seat
Posts: 12,522
Originally Posted by O R C A
I keep seeing assumptions we can take distributions from the MBCBP at 59 1/2.
05-29-2023, 08:08 AM
#173
Gets Weekends Off
Joined APC: Oct 2014
Posts: 891
Originally Posted by gloopy
Why would anyone do that anyway? Assuming you're still working (in service withdrawals), at the height of your earning years, why would anyone (short of an extremely rare massive emergency) pull out tax deferred money from a retirement account and pay the highest rate taxes on those dollars?
If forced to make a taxable distribution, you would save the alpa dues and get the same benefits as just keeping the spill cash.
05-29-2023, 08:12 AM
#174
Gets Weekends Off
Joined APC: Apr 2007
Posts: 4,458
Originally Posted by gloopy
Why would anyone do that anyway? Assuming you're still working (in service withdrawals), at the height of your earning years, why would anyone (short of an extremely rare massive emergency) pull out tax deferred money from a retirement account and pay the highest rate taxes on those dollars?
-Pilot already "hit their retirement number", but plans to work 'til 65. They fly a partial schedule earning 300K and pull out another 50K while still remaining in the 24% bracket
-A business, real estate or large charitable contribution generates a tax loss that can offset a distribution of prior year contributions.
-Making systemic withdrawals after 59 1/2 to roll the funds into an IRA that can be invested in a better fund/ETF.
06-01-2023, 02:47 PM
#175
Gets Weekends Off
Joined APC: Sep 2011
Position: Hates Commuting
Posts: 888
MEC "Engage" Podcast #29, on the subject of the MBCBP, is out:
https://open.spotify.com/episode/213...316e277de47639
I didn't hear anything that changed anything under discussion. One tidbit I found interesting: apparently, 70% of DL pilots are receiving spill cash.... I didn't expect it was that high a number....
https://open.spotify.com/episode/213...316e277de47639
I didn't hear anything that changed anything under discussion. One tidbit I found interesting: apparently, 70% of DL pilots are receiving spill cash.... I didn't expect it was that high a number....
06-01-2023, 02:53 PM
#176
Super Moderator
Joined APC: Dec 2007
Position: DAL 330
Posts: 6,868
Originally Posted by Gunfighter
Here are three reasons:
-Pilot already "hit their retirement number", but plans to work 'til 65. They fly a partial schedule earning 300K and pull out another 50K while still remaining in the 24% bracket
-A business, real estate or large charitable contribution generates a tax loss that can offset a distribution of prior year contributions.
-Making systemic withdrawals after 59 1/2 to roll the funds into an IRA that can be invested in a better fund/ETF.
-Pilot already "hit their retirement number", but plans to work 'til 65. They fly a partial schedule earning 300K and pull out another 50K while still remaining in the 24% bracket
-A business, real estate or large charitable contribution generates a tax loss that can offset a distribution of prior year contributions.
-Making systemic withdrawals after 59 1/2 to roll the funds into an IRA that can be invested in a better fund/ETF.
Number four - Save on DALPA dues.
Scoop
06-01-2023, 03:10 PM
#177
Gets Weekends Off
Joined APC: May 2012
Posts: 1,126
Quick question. NN23-17 talks about what the PWA requires (like 40%/60% equity/bond as split) but PWA 23.S Delta Market Based Cash Balance Plan for Pilots (MBCBP) says [intentionally left bkank]. Where do we find what the PWA actually says?
06-01-2023, 03:42 PM
#178
Gets Weekends Off
Joined APC: Apr 2007
Posts: 4,458
Originally Posted by Jughead135
MEC "Engage" Podcast #29, on the subject of the MBCBP, is out:
https://open.spotify.com/episode/213...316e277de47639
I didn't hear anything that changed anything under discussion. One tidbit I found interesting: apparently, 70% of DL pilots are receiving spill cash.... I didn't expect it was that high a number....
https://open.spotify.com/episode/213...316e277de47639
I didn't hear anything that changed anything under discussion. One tidbit I found interesting: apparently, 70% of DL pilots are receiving spill cash.... I didn't expect it was that high a number....
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