Delta or United
10-28-2021 | 02:12 PM
#171
Gets Weekends Off
Joined: Sep 2015
Posts: 5,521
Likes: 193
From: UNA
every comm I have seen from the union so far has stated this will be optional as long as the IRS approves it being optional.
just curious, why?
Can the balance in a VEBA be invested in the market like a HSA?
10-28-2021 | 04:59 PM
#172
Gets Weekends Off
Joined: Mar 2018
Posts: 3,630
Likes: 204
UAL’s is invested. Last year’s return was 8%, (*I think).
10-29-2021 | 04:55 AM
#173
Line Holder
Joined: Mar 2021
Posts: 41
Likes: 0
What?
Wait a sec… so for my United 401k, anything over the 19.5k 401k cap just disappears into an account I don’t use for retirement? I’m a military retiree, so I’ve got Tricare ad have little use for gobs of money that can be used for healthcare. What gives? That’s a HUGE amount of money I’m leaving on the table.
10-29-2021 | 05:17 AM
#174
Gets Weekends Off
Joined: Mar 2008
Posts: 4,098
Likes: 86
Wait a sec… so for my United 401k, anything over the 19.5k 401k cap just disappears into an account I don’t use for retirement? I’m a military retiree, so I’ve got Tricare ad have little use for gobs of money that can be used for healthcare. What gives? That’s a HUGE amount of money I’m leaving on the table.
But don’t forget, it’s not just the 19.5k limit. There are multiple, overlapping limits as part of 415(c) and 401(a) that can stop contributions. You could reach the total contribution limit or the maximum w2 limit. In either case, you get the “spill” cash at DAL, or into the VEBA at UAL.
10-29-2021 | 05:32 AM
#175
Line Holder
Joined: Mar 2021
Posts: 41
Likes: 0
Not UAL, but I think the definition of what VEBA money can be spent on is pretty broad.
But don’t forget, it’s not just the 19.5k limit. There are multiple, overlapping limits as part of 415(c) and 401(a) that can stop contributions. You could reach the total contribution limit or the maximum w2 limit. In either case, you get the “spill” cash at DAL, or into the VEBA at UAL.
But don’t forget, it’s not just the 19.5k limit. There are multiple, overlapping limits as part of 415(c) and 401(a) that can stop contributions. You could reach the total contribution limit or the maximum w2 limit. In either case, you get the “spill” cash at DAL, or into the VEBA at UAL.
10-29-2021 | 05:47 AM
#176
Gets Weekends Off
Joined: Mar 2008
Posts: 4,098
Likes: 86
This is basic IRS limits stuff. Recommend you read up on it. If you're already at UAL, then reach out to your local Rep and he can point you in the right direction.
10-29-2021 | 06:07 AM
#177
Gets Weekends Off
Joined: Sep 2015
Posts: 5,521
Likes: 193
From: UNA
Wait a sec… so for my United 401k, anything over the 19.5k 401k cap just disappears into an account I don’t use for retirement? I’m a military retiree, so I’ve got Tricare ad have little use for gobs of money that can be used for healthcare. What gives? That’s a HUGE amount of money I’m leaving on the table.
https://www.investopedia.com/retirem...bution-limits/
here is a place to start.
10-29-2021 | 06:40 AM
#179
New Hire
Joined: Dec 2020
Posts: 1
Likes: 0
Can't recall what the latest news on the MBCBP is... waiting for official IRS approval or do we have specific terms to review?
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