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Airline Pilot Central Forums (https://www.airlinepilotforums.com/)
-   Money Talk (https://www.airlinepilotforums.com/money-talk/)
-   -   A Fund/ B Fund (https://www.airlinepilotforums.com/money-talk/420-fund-b-fund.html)

Twin Wasp 02-02-2008 09:43 AM
Shortbus,

My understanding is you can't just pull your money out. There needs to be a triggering event - you retire, you reach 59 and a half years of age or you change employers.

Great Santini 02-02-2008 09:47 AM
Originally Posted by jonnyjetprop (Post 312652)
I take exception to that.
As in most general rules in life, there is always an exception. You execised a good exception to the 401K loan rule. I borrowed $50K from my 401K last year when the market was hot and paid it back after Black Monday a few weeks ago. That little maneuver made me over $10K.

Great Santini 02-02-2008 09:51 AM
Originally Posted by Twin Wasp (Post 312691)
Shortbus,

My understanding is you can't just pull your money out. There needs to be a triggering event - you retire, you reach 59 and a half years of age or you change employers.
You can not withdraw money from your 401K without penalties and tax ramifications except for the conditions I mentioned in an earlier post, however, you can always take your money anytime after you pay the taxes and penalties.

7576FO 02-02-2008 10:40 AM
Originally Posted by nwaf16dude (Post 312646)
With a very few exceptions, none of the major airlines have "A" funds anymore. I think if you look around the corporate world outside of aviation you'll find the same trend happening. Most companies are heading toward the 401K plan only.

"With very few exceptions" means more than one
"None of the major airlines have "A" funds anymore" means what?

That was completely stupid nwaf16dude

DAL4EVER 02-02-2008 10:58 AM
Dave Ramsey rocks!! Live like no one else now so you can live like no one else later.

Charlie Murphy 02-02-2008 11:12 AM
Originally Posted by overspeed (Post 312551)
Alright, I'm digging this one out. I've read the A-plan/B-plans articles on APC, but I still can't figure out the value of an A-plan. I'm wondering if anyone can make up an example of an A-plan, and how it would pay out based on some different numbers. Also, it seems that in order to figure out an A-plan value/payout, you need more than just the percentage provided on APC. If you could include any realistic caps on years of service, and penalties for retiring early that would be Great! Thanks.
Here's how it works at UPS. (i think)

You get 1% of your Final Average Earnings (FAE) for each year of service up to 30 years. To figure out your FAE, take the highest 5 pay years of your last 10 years and average them.

Pilot A: 30 years of service with $200,000 for his FAE would get 60,000/yr.
Pilot B: 15 years of service with $100,000 for his FAE would get 15,000/yr.

Charlie Murphy 02-02-2008 11:14 AM
And yes, to tag on, the best thing one can do is get on the Dave Ramsey plan. I'm doing better than I deserve.

INAV8OR 02-02-2008 11:14 AM
Originally Posted by DAL4EVER (Post 312722)
Dave Ramsey rocks!! Live like no one else now so you can live like no one else later.
That is so you can say, I am better then I deserve. More pilots need to catch on to Dave. With the high cost of training the need for loans is amazing. And now with pay down it would take an entire career to pay them off. PS the BOROWER is ALWAYS SLAVE to the LENDER

nwaf16dude 02-02-2008 11:38 AM
Originally Posted by 7576FO (Post 312713)
"With very few exceptions" means more than one
"None of the major airlines have "A" funds anymore" means what?

That was completely stupid nwaf16dude
Okay, wording wasn't so good...whatever. My point is that most of the majors don't have defined benefit plans that survived bankruptcy. Those that did are frozen, and being replaced by defined contribution plans. Obviously there are exceptions, but that trend is reflected in most business sectors because it is much cheaper for the employers.

7576FO 02-02-2008 11:57 AM
16dude,
I shouldn't have been so hostile to you.
It's gets old hearing so many people write and verbalize that ALL
A Funds are done.

Mine is very well funded at AA.
The latest here at AA is that the company wants to put our B fund into our
401K because they are thinking of selling the company that manages our 401K. American Beacon. Our plan is admin'd by JP Morgan.


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