Kalitta Air now accepting FO applications
07-25-2018, 08:40 AM
#4511
Gets Weekends Off
Joined APC: Jan 2013
Position: Doing Just Fine
Posts: 356
Originally Posted by Stimpy the Kat
K4 has no retirement plan per se. So that sucks. Next time maybe.
The excuse of " I save my own money. I don't want it to be taken away. " is ridiculous.
Where have you guys been? After 9/11, when pensions were raided in bankruptcy, I don't know of many U.S. Airlines that still have the old Defined Benefit plans that could be voided. (?)
Almost everybody now has Defined Contribution plans that can not be meddled with. Once it's deposited, it's yours.
13-16% of total earnings is about right...
STK
The excuse of " I save my own money. I don't want it to be taken away. " is ridiculous.
Where have you guys been? After 9/11, when pensions were raided in bankruptcy, I don't know of many U.S. Airlines that still have the old Defined Benefit plans that could be voided. (?)
Almost everybody now has Defined Contribution plans that can not be meddled with. Once it's deposited, it's yours.
13-16% of total earnings is about right...
STK
Exactly, it does suck (current pension) but along with the max out and match I still invest more on my own to around 25% or more total earnings.
07-25-2018, 08:57 AM
#4513
VHR-very happily retired
Joined APC: Aug 2007
Position: Retired
Posts: 1,409
Originally Posted by WhaleWrangler
Exactly, it does suck (current pension) but along with the max out and match I still invest more on my own to around 25% or more total earnings.
That environment no longer exists. Please explain to me how paying you more money makes more money for the company? Does the freight get there faster? Does the airplane require less maintenance?
Once the airline is staffed, Connie’s problem is solved. IMO, most pilots will stay, as they like the work environment and they make enough money that it is not worth starting over. Kalitta will not return to the top of the compensation stack once others pass it. Unless another perfect storm happens long after Connie and probably me are dead.
Geezer, notice how I put IMO there for you so you don’t have to accuse me of having some inside secret knowledge 😀
07-25-2018, 08:57 AM
#4514
Gets Weekends Off
Joined APC: Apr 2007
Posts: 1,809
Originally Posted by WhaleWrangler
Exactly, it does suck (current pension) but along with the max out and match I still invest more on my own to around 25% or more total earnings.
07-25-2018, 09:00 AM
#4515
Banned
Joined APC: Jun 2016
Posts: 105
Originally Posted by maxjet
What amazes me is Stimpy and Geezer thinking that we could ever see a defined benefit of anything like the Legacy 16+%. IMO never gonna happen. We raided the bank once because, again IMO, Connie looked at the return on investment in attracting new pilots in order to expand. It was either expand or die.
That environment no longer exists. Please explain to me how paying you more money makes more money for the company? Does the freight get there faster? Does the airplane require less maintenance?
Once the airline is staffed, Connie’s problem is solved. IMO, most pilots will stay, as they like the work environment and they make enough money that it is not worth starting over. Kalitta will not return to the top of the compensation stack once others pass it. Unless another perfect storm happens long after Connie and probably me are dead.
Geezer, notice how I put IMO there for you so you don’t have to accuse me of having some inside secret knowledge 😀
That environment no longer exists. Please explain to me how paying you more money makes more money for the company? Does the freight get there faster? Does the airplane require less maintenance?
Once the airline is staffed, Connie’s problem is solved. IMO, most pilots will stay, as they like the work environment and they make enough money that it is not worth starting over. Kalitta will not return to the top of the compensation stack once others pass it. Unless another perfect storm happens long after Connie and probably me are dead.
Geezer, notice how I put IMO there for you so you don’t have to accuse me of having some inside secret knowledge 😀
07-25-2018, 09:44 AM
#4516
Banned
Joined APC: Jun 2016
Posts: 105
Originally Posted by maxjet
What amazes me is Stimpy and Geezer thinking that we could ever see a defined benefit of anything like the Legacy 16+%. IMO never gonna happen. We raided the bank once because, again IMO, Connie looked at the return on investment in attracting new pilots in order to expand. It was either expand or die.
That environment no longer exists. Please explain to me how paying you more money makes more money for the company? Does the freight get there faster? Does the airplane require less maintenance?
Once the airline is staffed, Connie’s problem is solved. IMO, most pilots will stay, as they like the work environment and they make enough money that it is not worth starting over. Kalitta will not return to the top of the compensation stack once others pass it. Unless another perfect storm happens long after Connie and probably me are dead.
Geezer, notice how I put IMO there for you so you don’t have to accuse me of having some inside secret knowledge 😀
That environment no longer exists. Please explain to me how paying you more money makes more money for the company? Does the freight get there faster? Does the airplane require less maintenance?
Once the airline is staffed, Connie’s problem is solved. IMO, most pilots will stay, as they like the work environment and they make enough money that it is not worth starting over. Kalitta will not return to the top of the compensation stack once others pass it. Unless another perfect storm happens long after Connie and probably me are dead.
Geezer, notice how I put IMO there for you so you don’t have to accuse me of having some inside secret knowledge 😀
07-25-2018, 10:26 AM
#4517
Gets Weekends Off
Joined APC: Jan 2013
Position: Doing Just Fine
Posts: 356
Originally Posted by nitefr8dog
Then a company retirement would be foam on a the beer....the best part! The part you are not planning on using for retirement. Grandkids college, a 2nd retirement home in a tax free State, money to help your kids/ family that is not taking away from your carefully planned savings...I don't see the downside if you are not planning on it being there. Unless you don't trust yourself with 1-2 million dollars you had not planned on and worry you will end up blowing it on smoking crack...
07-25-2018, 10:34 AM
#4518
VHR-very happily retired
Joined APC: Aug 2007
Position: Retired
Posts: 1,409
Originally Posted by Geezer
I'm pretty sure, I may be incorrect, that company contributions to a DB plan aren't subject to FICA taxes. This is a savings, or how the Company makes more money with a DB plan. Other savings might include not paying into the Michigan unemployment insurance plan. Hopefully, the ALPA R&I staff will have some input for future negotiations.
Again, we seem to be speaking 2 different languages. My pay rate is 240.00/hr. How does paying me 245.00 an hour make more money for the company? Short answer, it does not. The perfect storm has passed and our pilots are naive to believe that Shipner and company can pull another rabbit out of the hat, which they really did and I will be forever grateful for. I am hopeful that there is a cost of living plus a bit and a big change in work rules. That would be a victory in my mind. I won’t be here so my opinion doesn’t matter.
07-25-2018, 10:35 AM
#4519
Banned
Joined APC: Jun 2016
Posts: 105
Originally Posted by WhaleWrangler
Argh but the K4 pension is just that, a little bit of foam on the beer.
No kids or grandkids college to pay
2 businesses that are doing just fine
House paid for
No loans or CC balance
No kids or grandkids college to pay
2 businesses that are doing just fine
House paid for
No loans or CC balance
I don't drink so the analogy is lost on me.
Explain how less non-taxable earnings makes beer better? Do you operate your business's to maximize profit or maximize taxes?
07-25-2018, 10:41 AM
#4520
Banned
Joined APC: Jun 2016
Posts: 105
Originally Posted by maxjet
Again, we seem to be speaking 2 different languages. My pay rate is 240.00/hr. How does paying me 245.00 an hour make more money for the company? Short answer, it does not. The perfect storm has passed and our pilots are naive to believe that Shipner and company can pull another rabbit out of the hat, which they really did and I will be forever grateful for. I am hopeful that there is a cost of living plus a bit and a big change in work rules. That would be a victory in my mind. I won’t be here so my opinion doesn’t matter.
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