DAL Poolie Info
03-30-2014 | 06:05 AM
#1511
Gets Weekends Off
Joined: Dec 2013
Posts: 220
Likes: 0
From: Waiting for the other shoe to drop...
03-30-2014 | 06:43 AM
#1512
Gets Weekends Off
Joined: Mar 2007
Posts: 1,414
Likes: 0
From: Heavies
I've got a couple questions about Delta's 401K.
1. On the Delta website, it says, "A 401(k) plan with a fixed 2% company contribution and a match up to 5%." But...I've also heard Delta puts 15% of your paycheck into a 401K with no matching required. Which is it?
2. What do most guys do for matching? Do you just let Delta contribute and not match? Or do you max out your personal contribution?
Thanks!
1. On the Delta website, it says, "A 401(k) plan with a fixed 2% company contribution and a match up to 5%." But...I've also heard Delta puts 15% of your paycheck into a 401K with no matching required. Which is it?
2. What do most guys do for matching? Do you just let Delta contribute and not match? Or do you max out your personal contribution?
Thanks!
And on crash pads. Do any have private rooms? The hotel thing seems pricey. I am planning to drive down after Indoc. Are they regular crew pads or mostly people in training.
03-30-2014 | 06:50 AM
#1513
Gets Weekends Off
Joined: Apr 2008
Posts: 2,206
Likes: 0
From: DAL FO
I know it's been asked before but does that 17,500 include what delta puts in? Or our own contribution. Thanks
And on crash pads. Do any have private rooms? The hotel thing seems pricey. I am planning to drive down after Indoc. Are they regular crew pads or mostly people in training.
And on crash pads. Do any have private rooms? The hotel thing seems pricey. I am planning to drive down after Indoc. Are they regular crew pads or mostly people in training.
03-30-2014 | 07:07 AM
#1514
Gets Weekends Off
Joined: Feb 2008
Posts: 20,877
Likes: 194
I've got a couple questions about Delta's 401K.
1. On the Delta website, it says, "A 401(k) plan with a fixed 2% company contribution and a match up to 5%." But...I've also heard Delta puts 15% of your paycheck into a 401K with no matching required. Which is it?
2. What do most guys do for matching? Do you just let Delta contribute and not match? Or do you max out your personal contribution?
Thanks!
1. On the Delta website, it says, "A 401(k) plan with a fixed 2% company contribution and a match up to 5%." But...I've also heard Delta puts 15% of your paycheck into a 401K with no matching required. Which is it?
2. What do most guys do for matching? Do you just let Delta contribute and not match? Or do you max out your personal contribution?
Thanks!
03-30-2014 | 07:20 AM
#1515
The Brown Dot +1
Joined: Jun 2009
Posts: 7,775
Likes: 0
From: 777B
Your personal pretax limit on what you can contribute is $17500 towards the $52k limit...
DAL does a 15% contribution which is separate and independent of what you contribute...except the grand total of yours and theirs has to come in under the 415c limit of $52k.
If you do the math, to max out your 401 to the 415c limit, you would make your full 17500 contribution and the company would max out their share ($34500) if you made more than $230k+/-
That is about as simplified as I can get...there are other issues if you make more, but in those cases, you should max out your pretax contribution earlier in the year.
03-30-2014 | 07:50 AM
#1517
Gets Weekends Off
Joined: Apr 2013
Posts: 326
Likes: 0
From: Retired AF/A320 FO
To roughly clarify without looking anything up, the IRS 415c limit is $52000 for the retirement plan. If you are over 50, you can add a $5000 catch up contribution to that for a total of $57k (this extra $5k isn't accounted for in the explanation below).
Your personal pretax limit on what you can contribute is $17500 towards the $52k limit...
DAL does a 15% contribution which is separate and independent of what you contribute...except the grand total of yours and theirs has to come in under the 415c limit of $52k.
If you do the math, to max out your 401 to the 415c limit, you would make your full 17500 contribution and the company would max out their share ($34500) if you made more than $230k+/-
That is about as simplified as I can get...there are other issues if you make more, but in those cases, you should max out your pretax contribution earlier in the year.
Your personal pretax limit on what you can contribute is $17500 towards the $52k limit...
DAL does a 15% contribution which is separate and independent of what you contribute...except the grand total of yours and theirs has to come in under the 415c limit of $52k.
If you do the math, to max out your 401 to the 415c limit, you would make your full 17500 contribution and the company would max out their share ($34500) if you made more than $230k+/-
That is about as simplified as I can get...there are other issues if you make more, but in those cases, you should max out your pretax contribution earlier in the year.
03-30-2014 | 07:58 AM
#1519
Gets Weekends Off
Joined: Apr 2008
Posts: 2,206
Likes: 0
From: DAL FO
The company DC money and your contributions both end up in a Fidelity account which has a ton of options for how you want to invest. You also have the option of making Roth contributions which are post tax. Some guys will go that route so they will have both pre/post tax $ available in retirement. Everyone's situation is different and a lot depends on your personal view of where tax rates will be in the future vs your likely tax bracket, etc.
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