I’m confused….

Reply Subscribe

Page 3 of 5

Thread Tools

Search this Thread

06-13-2023 | 03:20 PM

#21

Huck

Gets Weekends Off

Joined: Jun 2006

Posts: 2,253

Likes: 0

The largest airline in the country declared bankruptcy (UAL in 2002).
My uncle did 20 years there and is getting $36k a year from his pension.

06-13-2023 | 03:43 PM

#22

FTv3

Social Media retired.

Joined: May 2018

Posts: 1,015

Likes: 46

Quote:

Originally Posted by Huck

The largest airline in the country declared bankruptcy (UAL in 2002).
My uncle did 20 years there and is getting $36k a year from his pension.

FedEx and ups are way bigger than any airline, then and now.

06-13-2023 | 03:55 PM

#23

max8222

Line Holder

Joined: Aug 2006

Posts: 1,357

Likes: 133

Just read the latest email from the MEC and negotiating committee. The alternate retirement is 31% not 20%. The 11% goes into a separate retirement pot which allows you and the company to put in $102.3K a year. $66K PRSP and MBCBP $36.3K

So I believe this is actually a good deal for anyone that wants it. Especially since it is all tax deferred vice cash over cap that is taxed.

06-13-2023 | 04:28 PM

#24

Maineseaplane

On Reserve

Joined: May 2023

Posts: 24

Likes: 0

Quote:

Originally Posted by max8222

From a friend -

Its not 31%/$102.2k from the company. At most it would be 20%/$66k from the company. The rest of that 401k bucket that they filled was with your OWN money, which you can do today. Nothing new.

06-13-2023 | 04:38 PM

#25

bitwiser

On Reserve

Joined: Apr 2017

Posts: 169

Likes: 8

Quote:

Originally Posted by max8222

That's simply the misinformation from the NC. They're gaslighting you into thinking it's 31%, but it's not. It's (existing 9% B Fund) + (11% MBCPB) + (11% of YOUR OWN MONEY) = amazing 31%!! Incredible! Not to mention that the MBCPB is much less desirable than just putting that extra 11% into the B fund.

06-13-2023 | 04:42 PM

#26

max8222

Line Holder

Joined: Aug 2006

Posts: 1,357

Likes: 133

Your friends numbers are wrong. The $66k is from the B fund and your 401K contributions, the $36.3K is from the MBCBP. Get a new friend that has his numbers correct. For a total of $102.3k tax deferred.

06-13-2023 | 04:48 PM

#27

Chub

On Reserve

Joined: Aug 2020

Posts: 30

Likes: 0

Quote:

Originally Posted by max8222

Of that $66k in their B fund example, only $29.7k was actually company contributions. The rest was your own money. Nothing has changed about the B plan/401k, you can do that today if you so choose.

06-13-2023 | 04:54 PM

#28

pinseeker

Gets Weekends Off

Joined: Aug 2006

Posts: 1,813

Likes: 0

Quote:

Originally Posted by max8222

No, you are wrong. The DC plan is still 9% of the IRS earnings limit, which is $330k, so $29700. You can get another $27542 put into that account if you have a full disability band and don't use any sick, but that is your money, not company money.

06-13-2023 | 04:56 PM

#29

max8222

Line Holder

Joined: Aug 2006

Posts: 1,357

Likes: 133

True you can already do that. I might be incorrect but deltas 17% goes in the PPSP which is limited to the I RS max? Then cash over cap. Which then they can invest the cash over cap after tax. Big difference in tax deferred for the FedEx program.

06-13-2023 | 05:07 PM

#30

Chub

On Reserve

Joined: Aug 2020

Posts: 30

Likes: 0

Quote:

Originally Posted by max8222

Delta will get 18% into their 401k in another year, and since they have cash over cap, they have the option to have the excess spill into a MBCBP, tax deferred like ours. I believe a technique they can do over there is try to fill up their 401k account early in the year with their own money, that way the company’s contributions go into excess earlier and into the MBCBP, which avoids paying ALPA dues on that excess amount.