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-   -   Fractional retirement plans (https://www.airlinepilotforums.com/fractional/2442-fractional-retirement-plans.html)

Bengalsfan 02-06-2006 08:23 AM

Fractional retirement plans
 
I realize a lot of people are going to comment about retirements and flying positions, but I'd just like to know what people think about the different plans, so if we could hold off on the "you'll never retire from a flying position" comments, that would be greatly appreciated.

That being said, how good are the retirement plans?

FlexJet has a 1% A plan... what would that be after a 20 year career there?

Flex also matches up to 6% on the 401k... is this an overall better plan than NetJets with their 401k match of 50c/$1, up to 15%?

And obviously Fight Options and Citation Shares don't even qualify to debate since they are both significantly worse than either of these 2 options.

I'm really interested in peoples opinions on this, especially what the Flex A plan potentially could be worth.

Thanks

Bengalsfan 02-06-2006 01:34 PM

I got my answer off of the flight info message board, concerning flexjets 1%A plan

basically you would take 1% of your final years earnings x the amount of years you worked there.

so if you made $100,000 your final year x 30 years (1%)= $30,000 per year retirement fund.

They also have a 20% match employee stock purchase plan.

Geronimo4497 02-06-2006 03:03 PM

That is if they don't steal your money away as you approach or are in early retirement. My plan is to salt my money away someplace where only I have control of it. Pensions are certainly heading the way of the dodo.


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