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06-12-2023 | 04:22 PM

#261

m3113n1a1

Gets Weekends Off

Joined: Apr 2018

Posts: 4,158

Likes: 593

Quote:

Originally Posted by Myfingershurt

with 11% of it going into an ultra conservative MBCBP making 5% per year in your prime earring years. That’s not going to lead to a very good final sum. MBCBPs are for leftover money that you can’t figure out what to do with. Not a primary investment vehicle.

That's insane! Imagine a new hire being forced to put 11% into some company managed low return fund and only getting 9% into their 401k. Meanwhile at Delta or American they'd be getting 18% (of a much higher pay rate) into their own 401k which they can manage as they see fit. The difference over a 30 year career is VERY significant (in the millions).

06-12-2023 | 04:22 PM

#262

DLax85

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Joined: Jul 2007

Posts: 3,203

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From: Gear Monkey

Quote:

Originally Posted by MalteseX

Yes, I’m sure. The Money Purchase Pension Plan went away in 2017 - Merged with the PSRP. The PSRP in Section D is the B fund. Still there. The reason for the red strikeouts was from the 2015 contract that remained after the merger of the funds.

This is correct.

06-12-2023 | 04:24 PM

#263

kc10/c130

Beaches and Sand

Joined: Feb 2007

Posts: 373

Likes: 0

From: Chasing Surf

Please, please, please read the contract and don't pay attention to the video sales jobs!

06-12-2023 | 04:25 PM

#264

CloudSailor

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Joined: Dec 2006

Posts: 2,097

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Quote:

Originally Posted by DLax85

Details matter, and I don't think 20% is even true unless they will pay cash-over-cap on the 9% PRSP contribution. The additional 11% Cash Balance may not be capped, but PSRP probably still is. Details matter.

You've always posted good financial info. Thanks for that.

06-12-2023 | 05:33 PM

#265

DLax85

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Joined: Jul 2007

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From: Gear Monkey

Quote:

Originally Posted by DLax85

Unfortunately, it appears the 11% Cash Balance plan is also capped by IRS limits (currenty $330K) this year. So.....neither the 9% or 11% will be a true percentage of your total income if you exceed $330K. Details matter.