congradulations to Southwest
05-20-2008 | 12:13 PM
#12
New Hire
Joined: Jan 2008
Posts: 9
Likes: 0
No A plan no B plan no pension.....401k match 7.5% and profit sharing....some guys had stock options but they don't do that anymore...for some they were worthless anyways and for the more senior they were winning lottery tickets. You are responsible for planning your own retirement outside of the above 401k and profit sharing.
05-20-2008 | 01:07 PM
#14
Don't want to participate
Joined: Jul 2005
Posts: 1,016
Likes: 0
From: 737 Left Seat
I can tell you that SWA pilots generally do not want pensions, as they are vulnerable in the event of bankruptcy. 401(k)s and profit sharing accounts are your own money, not subject to creditors.
Negotiations are underway. We are probably negotiating for higher 401k matches, but as a captain, you are already maxing out a 401k at 7.3%. A Roth 401k may also be a possibility.
Negotiations are underway. We are probably negotiating for higher 401k matches, but as a captain, you are already maxing out a 401k at 7.3%. A Roth 401k may also be a possibility.
05-20-2008 | 01:09 PM
#15
Gets Weekends Off
Joined: Dec 2007
Posts: 141
Likes: 0
I would take 401(k) contributions over a defined retiremend plan any day. Sure Southwest looks good now and for the forseable future, but people thought the same about Enron and MCI Worldcom also. Don't count on anyone buy yourself for your retirement. That is my advice. If I were bargaining with SWA for more bennies I would just want more money or a higher 401(k) match.
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