AIP.
05-19-2018 | 11:22 AM
#231
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Another pay issue (I know. . pay isn't the entire contract). . . The current 5% which is PS, as well as monthly input to our 401k. Now that we are getting a 15% direct contribution, where will this 5% go? Will we get it with the rest of the PS at the end of the year? If not, then we haven't really gained anything other than the guarantee from the contract that we will get it rather than Board approval. We will have gained 2% but then lost 5%. Am I seeing something wrong there?
05-19-2018 | 11:28 AM
#232
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The REAL Bluedriver
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From: Airbus Capt
We don't get 5% of PS in our 401k now. Yes, the company rebranded it that way but it's not profit sharing. It's just 5% of your up to 13% (AIP 15-16%) contribution. The 5% PS cliff is simply gone; we don't get it anywhere, including in the AIP. The only thing the AIP does for us in this regard is increase the company contribution 2% (3% in 2021) without the requirement to match funds. That's it, there's nothing else there.
They will pay you your profit sharing in case ONLY that profit sharing that exceeds 5% of your eligible wages.
So in a year that we earn enough to get a profit sharing check of 6%, our actual check is for 1%.
First 5% goes to Robin and Joanna.
05-19-2018 | 11:31 AM
#233
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Not! On the retirement side you are correct. On the profit sharing payout side, the cliff is alive and well...
They will pay you your profit sharing in case ONLY that profit sharing that exceeds 5% of your eligible wages.
So in a year that we earn enough to get a profit sharing check of 6%, our actual check is for 1%.
First 5% goes to Robin and Joanna.
They will pay you your profit sharing in case ONLY that profit sharing that exceeds 5% of your eligible wages.
So in a year that we earn enough to get a profit sharing check of 6%, our actual check is for 1%.
First 5% goes to Robin and Joanna.
05-19-2018 | 11:34 AM
#234
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From: A320 CA
05-19-2018 | 11:35 AM
#235
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Another pay issue (I know. . pay isn't the entire contract). . . The current 5% which is PS, as well as monthly input to our 401k. Now that we are getting a 15% direct contribution, where will this 5% go? Will we get it with the rest of the PS at the end of the year? If not, then we haven't really gained anything other than the guarantee from the contract that we will get it rather than Board approval. We will have gained 2% but then lost 5%. Am I seeing something wrong there?
Unfortunately, if I understand correctly, the 5% profit-sharing cliff remains with the AIP, so that 5% just evaporates-it’ll be counted toward profit sharing, but we won’t actually get it (but again, we don’t lose anything compared to current practice). I like the fact that the AIP decouples our retirement from profit-sharing, so they shouldn’t have anything to do with each other going forward (based only on my understanding of the bullet-points)
05-19-2018 | 11:35 AM
#236
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Joined: Mar 2011
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From: A320 CA
I am dense, maybe I am missing the point. . . If there was a down year, and we lost money, JB didn't have to put that 5% in our 401k right? The Board could have voted to hold it back since it was PS, I thought.
05-19-2018 | 11:36 AM
#237
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From: A320 CA
We weren’t really getting that 5%, it was counted twice but we were obviously only getting it once. We’re gaining 2% and losing nothing (toward retirement), plus we don’t have to put in any of our own money if we don’t want to.
Unfortunately, if I understand correctly, the 5% profit-sharing cliff remains with the AIP, so that 5% just evaporates-it’ll be counted toward profit sharing, but we won’t actually get it (but again, we don’t lose anything compared to current practice). I like the fact that the AIP decouples our retirement from profit-sharing, so they shouldn’t have anything to do with each other going forward (based only on my understanding of the bullet-points)
Unfortunately, if I understand correctly, the 5% profit-sharing cliff remains with the AIP, so that 5% just evaporates-it’ll be counted toward profit sharing, but we won’t actually get it (but again, we don’t lose anything compared to current practice). I like the fact that the AIP decouples our retirement from profit-sharing, so they shouldn’t have anything to do with each other going forward (based only on my understanding of the bullet-points)
05-19-2018 | 11:51 AM
#238
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05-19-2018 | 11:55 AM
#239
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Most of our retirement, benefits, and bonuses have been at board discretion. A CBA would take that discretion away, but that doesn't imply improvements. There's a lot of "codifies current policy" language in the bullet points, meaning no change, but no takeaways possible either.
05-19-2018 | 02:03 PM
#240
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From: Left,Right, Left, Right,Right,Left, Right, Left
Guys. The profit share system stays the same. And so does the cliff.
You’ll get it 15% to your 401... then! If tHe company math derives that they give out a PS for the year whatever the number is pilots get 5% less than everyone else. That’s why it’s called a cliff.
You’ll get it 15% to your 401... then! If tHe company math derives that they give out a PS for the year whatever the number is pilots get 5% less than everyone else. That’s why it’s called a cliff.
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