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Southwest Pilots 401K Ranked Number 1

Old 12-20-2011, 11:05 AM
  #11  
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SWA matches 9.3% of total earnings.
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Old 12-20-2011, 11:47 AM
  #12  
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Originally Posted by Amish Pilot View Post
Where is Delta Pilot's 401K plan listed?
I think our BrokerageLink makes the Delta Pilot's plan superior. I'm guessing that's not one of the big factors they consider in this ranking?

Also, 14% company contribution (with no required individual contribution) is a pretty good deal IMO. Given that we lost our pension, I'd like to see it increased... but not at the expense of pay increases. Don't forget that pay increases automatically increase the dollar amount the company contributes.
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Old 12-20-2011, 11:56 AM
  #13  
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Old 12-20-2011, 12:43 PM
  #14  
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Originally Posted by HuronIP View Post
SWA matches 9.3% of total earnings.

Just 9.3%? Horizon used to match 10% dollar for dollar up until just this last year. I figured it would be much higher to be number 1.
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Old 12-20-2011, 01:03 PM
  #15  
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Originally Posted by TherealOC View Post
Just 9.3%? Horizon used to match 10% dollar for dollar up until just this last year. I figured it would be much higher to be number 1.
The ranking is a combination of many different factors.

"Brightscope's ranking system crunches more than 200 data points to simulate a 401(k) plan's effectiveness at getting plan participants to retirement, and its annual top 30 list serves as a cautionary reminder that all 401(k) plans are not created equal."

"For Southwest's pilots, the number-one ranking means their plan "gets average plan participants to retirement faster than any other 401(k) plan in the country," says Bryan Lorenz, Brightscope's vice president of data. "A participation rate of nearly 100 percent as well as the highest combination of company generosity and salary deferrals contributed to this outcome."
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Old 12-20-2011, 01:18 PM
  #16  
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I believe longevity is going to play here. I could be very wrong with this, isn't the DAL 401K plan relatively a new plan since bankruptcy? Which would account for only having an average account balance of $39,000?

I'm a relatively newbie at the company and my balance is higher than that. Something seems off.

9.3% matching is a nice benny. Kudos SWA.
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Old 12-20-2011, 01:52 PM
  #17  
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Originally Posted by KC10 FATboy View Post
I believe longevity is going to play here. I could be very wrong with this, isn't the DAL 401K plan relatively a new plan since bankruptcy? Which would account for only having an average account balance of $39,000?

I'm a relatively newbie at the company and my balance is higher than that. Something seems off.

9.3% matching is a nice benny. Kudos SWA.
The DC Plan is what you're talking about.

The DPSP (401k) has a relatively new name but has been around for a long time. It used to be the same name as the 401k for the rest of the employees. When we got the expanded BrokerageLink capabilities in 2007, the company didn't want to give the other employees that much capability in their 401k's because they were afraid that ramper Joe Sixpack would bet his entire retirement on Google or gold or something and end up losing it all. (So much for Bastian's theory that the company views the pilots as being comparable to a janitor.) So in order to give us the expanded capabilities, they broke our 401k plan off from the rest of the Delta employees and renamed it the "Delta Pilots Savings Plan" (DPSP). And now you know... "the rest of the story." [spoken with my best Paul Harvey imitation]
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Old 12-20-2011, 03:42 PM
  #18  
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Originally Posted by DAL 88 Driver View Post
I think our BrokerageLink makes the Delta Pilot's plan superior. I'm guessing that's not one of the big factors they consider in this ranking?

Also, 14% company contribution (with no required individual contribution) is a pretty good deal IMO. Given that we lost our pension, I'd like to see it increased... but not at the expense of pay increases. Don't forget that pay increases automatically increase the dollar amount the company contributes.
+1!!! 88 and I agree on this.(big news for peeps who know us!)
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Old 12-20-2011, 04:30 PM
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Originally Posted by shiznit View Post
+1!!! 88 and I agree on this.(big news for peeps who know us!)


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Old 12-20-2011, 07:25 PM
  #20  
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This is fantastic news! It's going to make me forget about my impending downgrade into the canyon blue right seat completely............ Damn it. Where's that emoticon for the little face rolling it's eyes?
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