"TA or not a TA, that is not the question"?
08-20-2015, 02:37 PM
#51
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Joined APC: Jul 2008
Position: MD CA
Posts: 705
Originally Posted by Airbum
you are just slightly off, the UPS has a limit on the A plan of the LESSOR of, the IRS limits or to a MAX of $300,000.
UPS A plan is 1% a year ( max 30% ) of IRS limits or $300,000 FAE whichever is the least.
Option 2 is a flat rate benefit of $3,000 a year max of 30 years. (Established in 2006 with no increases.) ( Capt $3,000 First Officer $2,400 Flight Engineer $2,100 )
30 years A plan 265,000 x .3 = $79,500
30 years Flat rate 30 x 3,000 = $90,000
UPS A plan is 1% a year ( max 30% ) of IRS limits or $300,000 FAE whichever is the least.
Option 2 is a flat rate benefit of $3,000 a year max of 30 years. (Established in 2006 with no increases.) ( Capt $3,000 First Officer $2,400 Flight Engineer $2,100 )
30 years A plan 265,000 x .3 = $79,500
30 years Flat rate 30 x 3,000 = $90,000
$90,000 after 30 years?!! You guys at Brown have allot of catching up to do.
08-20-2015, 07:51 PM
#54
APC co-founder
Joined APC: Feb 2005
Position: 747-400 captain
Posts: 1,383
08-20-2015, 08:20 PM
#56
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Joined APC: Jan 2006
Posts: 2,838
Originally Posted by Lineslug
Correct, except Captains max out at about 10.3% because of federal limits on the qualified plan. Just FYI.
08-21-2015, 02:29 PM
#57
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Joined APC: Feb 2013
Posts: 1,339
Originally Posted by Lineslug
Correct, except Captains max out at about 10.3% because of federal limits on the qualified plan. Just FYI.
That's how ups B-plan worked before the '06 contract. Now, once they reach the IRS limit ups keeps the money... It only affects a few pilots but still
08-22-2015, 02:42 PM
#58
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Joined APC: Jan 2006
Posts: 2,838
Originally Posted by whalesurfer
I believe fedex pilots who reach the IRS limit keep getting paid but now it's added to your income and taxed. Is that correct?
That's how ups B-plan worked before the '06 contract. Now, once they reach the IRS limit ups keeps the money... It only affects a few pilots but still
That's how ups B-plan worked before the '06 contract. Now, once they reach the IRS limit ups keeps the money... It only affects a few pilots but still
Not a good deal
08-22-2015, 02:54 PM
#59
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Joined APC: Feb 2013
Posts: 1,339
Originally Posted by RedeyeAV8r
The difference above the IRS CAP is paid to us in cash and taxed at current rate.
Not a good deal
Not a good deal
Well, your deal is MUCH better than our deal.
Since the 2006 contract - once a pilot reaches the IRS cap ups keeps the extra money!!! In other words, don't worry about being taxed on the difference because ups keeps ALL the difference.
The fact we gave that up is unfathomable to me! :-(
08-22-2015, 03:01 PM
#60
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Joined APC: Mar 2007
Posts: 148
Originally Posted by RedeyeAV8r
The difference above the IRS CAP is paid to us in cash and taxed at current rate.
Not a good deal
Not a good deal
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