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Old 09-27-2005, 05:26 PM   #1  
b1bdrvr
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Default Does Jet Blue Have a retirement?

Gents,

Since we are all in this together, I am asking a question... It is my understanding that Jet Blue is contract for the pilots, with no Union. Since the pay is low, how are you going to deal with retirerment? Are you offered a 401K? is it matching? Any A or B fund? I know it may not seem important now but once you turn 40 you will wish you had something. Remember that if you only have a 401K, you have to make a decent wage to save and still live well. You might start thinking about organizing fellas and gals, otherwise it may be slim pickins in you later years.

Bone
 
Old 09-27-2005, 05:45 PM   #2  
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Default JB retirement...

401K up to 3% match and profit sharing (i don't know what that means exactly - maybe someone can explain the mechanics)...I believe they also have stock options.

With only the 401K / profit share / and stock options I believe they are offering more than many out there...

Where are you stationed? I'm out at Langley AFB...

V/r,
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Old 09-27-2005, 07:05 PM   #3  
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Quote:
Originally Posted by b1bdrvr
Gents,

Since we are all in this together, I am asking a question... It is my understanding that Jet Blue is contract for the pilots, with no Union. Since the pay is low, how are you going to deal with retirerment? Are you offered a 401K? is it matching? Any A or B fund? I know it may not seem important now but once you turn 40 you will wish you had something. Remember that if you only have a 401K, you have to make a decent wage to save and still live well. You might start thinking about organizing fellas and gals, otherwise it may be slim pickins in you later years.

Bone

Welcome to the forums! Be aware that we have a companion web site dedicated to your questions, check this out: http://www.airlinepilotcentral.com/content/view/51/17/

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Old 09-30-2005, 05:14 AM   #4  
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We have the 401k which is matched 100% for the first 3% of employee contribution. We also have Profit Sharing which varies from year to year and is paid every February. Profit Sharing checks are distributed to your 401K account and are fully vested immmediately and can be allocated as you wish. In the first three years the guys/gals got some HUGE checks. This past year wasnt so great, but the company's profit margin wasnt so great either. We also have a stock purchase plan which allows us to buy company stock at a 15% discount. This program is on a 6month rolling open/close period and has been worth some decent coin if you played your cards right. We are capped at 10% of pay for buying the stock. I'm in my 3rd year hear at Blue and I've grown my 401 by 20 grand since I've been here. My 401K should be pretty repectable by retirement age, but I figure the government will find a way to take that money from me after I retire. Hope I've helped explain this stuff.
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