Any "Latest & Greatest" about Delta?
06-07-2016 | 11:48 AM
Gets Weekends Off
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From: Here and there
The latter doesn't exist anymore or at least isn't for new hires. The former is the 15% contribution the company gives you regardless of your personal 401k election.
06-07-2016 | 02:10 PM
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From: Narrow/Left Wide/Right
06-07-2016 | 02:22 PM
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From: Narrow/Left Wide/Right
A couple of years ago, they decided (ALPA and the Company) to just merge the DPDCP into the DPSP and make the contributions to the DPSP instead.
At that time you could have rolled your DPDCP balance into the DPSP, taken it out with applicable tax penalties, or rolled it into your own IRA.
So as posted above, for all newbe's it's all just the DPSP.
06-07-2016 | 02:34 PM
Line Holder
Joined: Jul 2014
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The DPDCP was what was created when the pension was cancelled. The DPSP was a 401K that existed for all employees as well with Fidelity.
A couple of years ago, they decided (ALPA and the Company) to just merge the DPDCP into the DPSP and make the contributions to the DPSP instead.
At that time you could have rolled your DPDCP balance into the DPSP, taken it out with applicable tax penalties, or rolled it into your own IRA.
So as posted above, for all newbe's it's all just the DPSP.
A couple of years ago, they decided (ALPA and the Company) to just merge the DPDCP into the DPSP and make the contributions to the DPSP instead.
At that time you could have rolled your DPDCP balance into the DPSP, taken it out with applicable tax penalties, or rolled it into your own IRA.
So as posted above, for all newbe's it's all just the DPSP.
06-07-2016 | 03:22 PM
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From: A350 Both
06-07-2016 | 03:44 PM
The Brown Dot +1
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From: 777B
06-07-2016 | 04:28 PM
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From: 737n/FO
The 18k is your personal pre-tax contribution limit. It counts against the 415 max of 53000. So if you contribute 18, the company deferred tax max DC contribution is 35000. If 15% of your income exceeds that amount, you get the amount over 35000 as normal taxable income. If you are over 50, or turning 50 this year, you can put in an additional 6000 in pre-tax catch-up contributions that does not count against the 53000.
06-07-2016 | 04:33 PM
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From: 737n/FO
Outstanding advice. I'd also suggest reviewing an after-tax (Roth) contribution as an option to the 18K pre-tax. Roth accounts give you more estate planning options, tax free growth and the option to pull from a retirement account that won't increase your taxable income like pulling from a pre-tax retirement account does.
Outside of your Delta plan, if you do not have a traditional IRA, look into a back door Roth IRA. If you have a traditional IRA already, the backdoor Roth gets more complicated.
Outside of your Delta plan, if you do not have a traditional IRA, look into a back door Roth IRA. If you have a traditional IRA already, the backdoor Roth gets more complicated.
06-07-2016 | 04:34 PM
The Brown Dot +1
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From: 777B
Actually, the $6000 DOES COUNT against the limit - the $53000 is an absolute limit. If you contribute your full $24K to the 401K then the DC plan will go in until reaching your limit of $53K and then any extra money will start getting paid out to you as salary - reread the 401K rules.
06-08-2016 | 04:02 PM
On Reserve
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Question about YS while on reserve. There are trips in open time that start with zeros, i.e. 0111, etc. Am I able to put in a YS for those? If yes, are they ever awarded outside of 24 hours before the trip?
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