Originally Posted by shoelu

What is a white slip?

Originally Posted by shoelu

If the pilot’s contribution reaches the “402(g) limit” imposed by the Internal Revenue
Service, the Company will continue to contribute at the same rate on the amount above the
402(g) limit (including Option Exercise Profits in the year in which options are exercised),
up to a maximum Company contribution in any one (1) year of twenty five thousand dollars
($25,000). To give pilots the opportunity to receive such contributions in excess of the 402(g)
limit tax-deferred, the Company will maintain a tax-deferred “401(a)(17) Plan,”
incorporating the current 415 Excess Plan investment options and rabbi trust provisions.
Participants will be one hundred (100) percent vested in all contributions and earnings in the
401(a)(17) Plan from the date of participation.

The 401(k) plan document will permit SWAPA to operate a self-directed brokerage account,
and determine the percentage of assets each pilot will be allowed to invest in the self-directed
brokerage account, subject only to the Association’s fiduciary responsibilities to the Plan and
Plan participants..

The Company will maintain a "Top Hat Plan'" whereby a pilot earning more than $130,000
in the pilot’s eligibility year ($160,000 effective for eligibility years beginning on or after
January 1, 2008) may elect to defer a portion of his compensation (up to twelve thousand five
hundred dollars ($12,500) for pilots under age fifty (50); up to twenty-five thousand dollars
($25,000) for pilots ages fifty (50) to fifty-five (55); up to fifty thousand dollars ($50,000) for pilots over age fifty-five (55)) to be paid out, with interest, at a later time. The Association
and the Company may adjust the amount of compensation required to participate in later
years by separate agreement.

Originally Posted by shoelu

"Their pay on a normal day is like ours on a rolling thunder or white slip bonanza."

Now that I more fully understand white vs green slips, it is more accurately a green slip bonanza. We very rarely jump to double time, but Premium Open Time (150%) is abundant. You must remember that EVERY pilot is qualified to fly EVERY trip. You can bid for premium open time in any domicile. The way pilots get to 120TFP+ is through premium pick ups normally, not by working many extra days, the original poster made it to his total averaging 18 days off. SWA rewards greed and there are abundant ways to work the system. Many senior folks won't hardly leave the house for less than 10TFP per day. Senior Captains can bid for low block 1 and 2 day trips and then give them away easily because the low block totals allow others to wedge them into their schedule. They then begin to pick up premium trips. Lance Captains do the same and drop their trips to more junior F.O's so they are able to pick up CA trips at CA pay. The junior folks are happy to pick up the trips if they want to increase their line totals and are unable to win premium trips due to lack of seniority. Lather rinse repeat. We run around 10% reserves so the system completely relies on pilots picking up open time. I flew with a senior CA last week that averaged 150TFP in 2011. If you do the math and add in 401K match and profit sharing it is well north of $365,000. Those totals are certainly not the norm, but it is possible.

Originally Posted by Pineapple Guy

shoelu, this is all good info, and we really do appreciate it. Just curious, do you know how many hours the AVERAGE guy actually flies? FAA hours, not pay hours.

Originally Posted by Rolf

Shoe,

That would be close to 1000 hours a year. I think our average is around 740/year. Tr4 would know.