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Old 06-12-2023, 04:22 PM
  #261  
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Originally Posted by Myfingershurt
with 11% of it going into an ultra conservative MBCBP making 5% per year in your prime earring years. Thatís not going to lead to a very good final sum. MBCBPs are for leftover money that you canít 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).
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Old 06-12-2023, 04:22 PM
  #262  
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Originally Posted by MalteseX
Yes, Iím 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.
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Old 06-12-2023, 04:24 PM
  #263  
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Please, please, please read the contract and don't pay attention to the video sales jobs!
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Old 06-12-2023, 04:25 PM
  #264  
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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.
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Old 06-12-2023, 05:33 PM
  #265  
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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.
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.
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