SWA/DAL Profit Sharing
 

Can somebody humor a confused military guy eventually looking to find a new job?

Near as I can tell, the Delta profit sharing is merely an extra paycheck in February. Does that check?

If so, is SWA's essentially the same?

No. SWA profit sharing goes into a profit sharing account which is similar to a 401k (i.e. you make your own investment choices). You become fully vested in the plan over 5 years and can not touch the account until you retire.

I hope this helps

"merely" an extra paycheck? I ain't complaining....What do you want, a company car?

A couple of other things to consider:

1. To be paid, profit sharing requires profits. You might want to look at the track records of the two companies.

2. One airline pays and treats its pilots considerably better than the other.

Of course, either of those things can change going forward. Or at least one can always hope! :)

Good luck to you in your decision!

The "extra paycheck" thing is a wag. The amount depends on how profitable the company is. Some have said here that in the past it was about the amount of a normal paycheck extra in prior profitable years. It is paid as normal pay, so it's pensionable (i.e. the company has to make 401k contributions as a percentage of the amount), and also subject to union dues and taxes. I'm hoping for more than a normal paycheck, but planning on less.

I'm actually getting used to the VIP treatment now, Ronnie. You telling me that will end?

Thanks for the words. Follow up to Fly Gal...Is the SWA Profit Sharing fund considered a defined contribution fund subject to the DC annual cap, a defined benefit or something else entirely?

Here's what APC shows for retirement plans at SWA:
401K: yes
401k Matching: up to 9.3%
A/B Fund: none
Other: Profit sharing (10% avg past 10 years)

Is that 10% avg past 10 yrs a percentage of average of annual pay or 10% of corporate profits distributed to pilot group?

10% of annual pay. Thats just an average, last year wasn't anywhere close to that.