Any "Latest & Greatest" about Delta?
11-20-2010 | 10:22 AM
veut gagner à la loterie
Joined: Apr 2008
Posts: 23,286
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From: Light Chop
And, ironically, thanks for letting me win the bet. 
See the bold below, you admit, you can cash out a 401K.
Because remember the original bet:
Now I was talking strictly about cashing out 401Ks, you were talking about doing it while employed which you can still cash out with stipulations. Question for ya though, in your original response...
why didn't you say right then in there, you can cash out a 401K while employed with said company but only for certain reasons such as hardship or if you're above 59.5?
I ask because why not give a full answer? I mean even Slow gives us full answers from the beginning. Everything that came after was completely unnecessary
... including losing the bet with me. 
See the bold below, you admit, you can cash out a 401K.
OK - I'll quit toying with you.
You (and apparently your brother) were able to cash that out ONLY because you (and your brother) no longer worked there. Had you still been an active employee of the car dealership, IRS regulations prohibit you from withdrawing the elective deferrals you made to the plan until you a) reach age 59 1/2, or, b) qualify for a hardship withdrawal. You are permitted under certain circumstances, if the plan permits, to withdraw the contributions your employer made, but not those you made. And since for most of us, our 401(k) primarily consists of money we've contributed, most of us have a substantial restriction on our ability to "cash it out" while employed.
You (and apparently your brother) were able to cash that out ONLY because you (and your brother) no longer worked there. Had you still been an active employee of the car dealership, IRS regulations prohibit you from withdrawing the elective deferrals you made to the plan until you a) reach age 59 1/2, or, b) qualify for a hardship withdrawal. You are permitted under certain circumstances, if the plan permits, to withdraw the contributions your employer made, but not those you made. And since for most of us, our 401(k) primarily consists of money we've contributed, most of us have a substantial restriction on our ability to "cash it out" while employed.
I ask because why not give a full answer? I mean even Slow gives us full answers from the beginning. Everything that came after was completely unnecessary
... including losing the bet with me.
Last edited by forgot to bid; 11-20-2010 at 11:25 AM.
11-20-2010 | 10:26 AM
pants on the ground
Joined: Jan 2007
Posts: 1,359
Likes: 0
From: back seat
Is Carl really who we think he is? Or, is he a DALS guy from the 4th floor and coordinating his posts with Slow? Is this Christmas party a trap? Is it like a trojan rabbit wheeled into the castle?
Carl, we're nervous out here... tell us the truth... would it take more than a scholarship to get you to go to Mississippi St?
Carl, we're nervous out here... tell us the truth... would it take more than a scholarship to get you to go to Mississippi St?
that movie is the best.....the rabbit images/scenes are the best.
11-20-2010 | 10:32 AM
Gets Weekends Off
Joined: Sep 2010
Posts: 412
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From: A330 A
FYI: Possible Double Taxation
Hey 401K loan guys,
I am not sure about our program, as I have not had a loan, but you may be subject to Double Taxation.
If you recall, your retirement plan contributions are made on a pre-tax basis. This means that you realize a tax break when making contributions to the plan, and you’re then taxed in the future when you take money out of the plan. Unfortunately, when you take a loan from your plan, you may be subjecting yourself to additional taxes.
While regular 401(k) contributions are taken out of your paycheck on a pre-tax basis, the loan repayments are not. This means that you are taking pre-tax money out of your account and then repaying it with after-tax money. This can result in some of this money being taxed twice.
I am not sure about our program, as I have not had a loan, but you may be subject to Double Taxation.
If you recall, your retirement plan contributions are made on a pre-tax basis. This means that you realize a tax break when making contributions to the plan, and you’re then taxed in the future when you take money out of the plan. Unfortunately, when you take a loan from your plan, you may be subjecting yourself to additional taxes.
While regular 401(k) contributions are taken out of your paycheck on a pre-tax basis, the loan repayments are not. This means that you are taking pre-tax money out of your account and then repaying it with after-tax money. This can result in some of this money being taxed twice.
11-20-2010 | 10:35 AM
Gets Weekends Off
Joined: Feb 2008
Posts: 2,355
Likes: 34
..............................
11-20-2010 | 10:37 AM
Gets Weekends Off
Joined: Feb 2008
Posts: 2,355
Likes: 34
11-20-2010 | 10:46 AM
Gets Weekends Off
Joined: May 2008
Posts: 277
Likes: 0
From: Uncoveraged...
My understanding is that its not a full fledged interview, but it is a one-on-one with one of the higher ups in the recruitment/newhire process (kind of a "pre" interview, I guess.) I don't know if Delta is selecting the folks that get these slots (so they spend time with folks they already know of qualified and competitive,) or if its based on when you registered. And, or course, the golden question is: would they spend this kind of effort talking to potential newhires if they didn't plan on ramping things up again soon? I don't have that answer.
We might gleen some useful information if we know the status of the interview team. Were they disbanded after last summer, or are they still operational?
11-20-2010 | 10:48 AM
Gets Weekends Off
Joined: Sep 2010
Posts: 412
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From: A330 A
Chilly Open
We play all winter, come on up for the Chilly Open in Feburary.
Here is a link:
Wayzata Area Chamber
11-20-2010 | 10:53 AM
Gets Weekends Off
Joined: Feb 2009
Posts: 217
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Kudos to the crew of flt 196/19th, PHL to CDG. They spent the last couple of hours of their crossing on one engine.
Incident: Delta Airlines B752 over Atlantic on Nov 20th 2010, engine shut down in flight
Incident: Delta Airlines B752 over Atlantic on Nov 20th 2010, engine shut down in flight
11-20-2010 | 10:56 AM
Gets Weekends Off
Joined: Jun 2008
Posts: 3,716
Likes: 0
Kudos to the crew of flt 196/19th, PHL to CDG. They spent the last couple of hours of their crossing on one engine.
Incident: Delta Airlines B752 over Atlantic on Nov 20th 2010, engine shut down in flight
Incident: Delta Airlines B752 over Atlantic on Nov 20th 2010, engine shut down in flight
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