JetBlue Latest and Greatest
10-23-2016 | 07:57 AM
#1541
Line Holder
Joined: Dec 2007
Posts: 413
Likes: 2
From: B757F CA
DAL has a DC plan and I believe it's 16%, IRS limits for 2017 $54,000. 2017 IRS 401K match limits $18,000.
Delta employee makes $225,000, DC plan company contributions at 16% = $36,000. Employee contributes 8% ($18,000) for a total of $54,000 per year only contributing 8%.
JetBue pilot making $225,000 no DC plan, contributes 8% for $18,000 with company match of $18,000 totaling $36,000.
Compound that over 20+ years and it's staggering.
*fyi this is purely my own thinking with no hard evidence backing it up, could be way off base here on how these actually work.
Delta employee makes $225,000, DC plan company contributions at 16% = $36,000. Employee contributes 8% ($18,000) for a total of $54,000 per year only contributing 8%.
JetBue pilot making $225,000 no DC plan, contributes 8% for $18,000 with company match of $18,000 totaling $36,000.
Compound that over 20+ years and it's staggering.
*fyi this is purely my own thinking with no hard evidence backing it up, could be way off base here on how these actually work.
At JetBlue, the company will match 5%, and contribute an additional 8%. So IF you contribute 5% (let's say the max of $18,000), then the company's total contribution would be (on your example of a salary of $225,000) $29,250. So the total increase in your 401k would be $47,250.
We are still behind, and it is an area which really needs to be addressed in our contract. But your numbers are not accurate and are a bit misleading.
10-23-2016 | 08:37 AM
#1542
Banned
Joined: Feb 2009
Posts: 1,445
Likes: 0
Wrong. The company puts 13% into my 401K, and I get profit sharing I am not counting it twice. They changed it remember. That 5% that use to be called profit sharing that goes into our 401K was changed, it's called something else now. It doesn't matter what it's called. The company puts a total of 13% into my 401K and I still get profit sharing. I don't know where this lie of yours started but I am getting tired of it.
Base pay 3.5%
Retirement 2%
Profit sharing 5% (maybe)
That's 10%, pretty far off from 30-40%, lol.
Guys I know there hate there insurance as much as ours. They also would rather have a vacation system like ours. In the first couple years they only get 2 vacations a year. If you don't use your PTO you can take easy 4 a year. Or you can sell it back. They actually have to call in sick to use there benefits. Slips? Come on, we all know senior FOs and captains that live in base at every airline that make out like bandits. Sure we all hear of that 1 guy that lives in Atlanta that made 250 as an FO, you think they all do that? There are senior FOs on the bus in JFK that average 140 credit a month, sell back PTO on top of it.
There pay is higher than ours, but don't fall into this propaganda that they are making 30-40% more. In a couple year groups maybe, as a whole no.
Base pay 3.5%
Retirement 2%
Profit sharing 5% (maybe)
That's 10%, pretty far off from 30-40%, lol.
Guys I know there hate there insurance as much as ours. They also would rather have a vacation system like ours. In the first couple years they only get 2 vacations a year. If you don't use your PTO you can take easy 4 a year. Or you can sell it back. They actually have to call in sick to use there benefits. Slips? Come on, we all know senior FOs and captains that live in base at every airline that make out like bandits. Sure we all hear of that 1 guy that lives in Atlanta that made 250 as an FO, you think they all do that? There are senior FOs on the bus in JFK that average 140 credit a month, sell back PTO on top of it.
There pay is higher than ours, but don't fall into this propaganda that they are making 30-40% more. In a couple year groups maybe, as a whole no.
10-23-2016 | 08:41 AM
#1543
Not A Janitor
Joined: Aug 2008
Posts: 814
Likes: 0
DAL has a DC plan and I believe it's 16%, IRS limits for 2017 $54,000. 2017 IRS 401K match limits $18,000.
Delta employee makes $225,000, DC plan company contributions at 16% = $36,000. Employee contributes 8% ($18,000) for a total of $54,000 per year only contributing 8%.
JetBue pilot making $225,000 no DC plan, contributes 8% for $18,000 with company match of $18,000 totaling $36,000.
Compound that over 20+ years and it's staggering.
Delta employee makes $225,000, DC plan company contributions at 16% = $36,000. Employee contributes 8% ($18,000) for a total of $54,000 per year only contributing 8%.
JetBue pilot making $225,000 no DC plan, contributes 8% for $18,000 with company match of $18,000 totaling $36,000.
Compound that over 20+ years and it's staggering.
Wrong. The company puts 13% into my 401K, and I get profit sharing I am not counting it twice. They changed it remember. That 5% that use to be called profit sharing that goes into our 401K was changed, it's called something else now. It doesn't matter what it's called. The company puts a total of 13% into my 401K and I still get profit sharing. I don't know where this lie of yours started but I am getting tired of it.
10-23-2016 | 08:50 AM
#1544
Gets Weekends Off
Joined: Oct 2012
Posts: 3,247
Likes: 45
From: 190 captain and “Pro-pilot”
10-23-2016 | 09:07 AM
#1545
Gets Weekends Off
Joined: Dec 2008
Posts: 3,150
Likes: 0
From: Left,Right, Left, Right,Right,Left, Right, Left
10-23-2016 | 10:19 AM
#1546
SDQ Base Chief
Joined: Mar 2006
Posts: 6,051
Likes: 33
From: 320 CA
It's company matching based on eligible wages, not based on what you contribute. 13% of eligible wages is your total company match assuming you're putting in at least 5%
10-23-2016 | 10:21 AM
#1547
Gets Weekends Off
Joined: Mar 2011
Posts: 247
Likes: 0
With the 5% match, the 5% "cliff", and the 3% retirement advantage or whatever they call it, it is indeed 13%.
10-23-2016 | 11:40 AM
#1549
Banned
Joined: Feb 2009
Posts: 1,445
Likes: 0
We don't alot as much vacation in the peak months as other airlines. "Running hot, running lean, and take one for the team" are the terms I've heard with regard to our peak periods.
10-23-2016 | 12:27 PM
#1550
Gets Weekends Off
Joined: Oct 2012
Posts: 3,247
Likes: 45
From: 190 captain and “Pro-pilot”
That is why it is the FIRST thing that needs to be fixed.
Followed up with round bidding
Now you could keep our PTO system and just give us more of it or scrap the system and go the standard way. I have no idea what they will go with.
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