Zudd

No clue. It was the CC76. Not something I would want to do, but... He wouldnt have made that if he had taken an upgrade. It works for him and that's all that should matter.

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dera

I never said it sucked, I just pointed out ASACapt has no clue about how 401Ks and matching works.

frmrdashtrash

He’s clearly missing something in his life.

I suggest a cat. Not as loyal as a dog but much lower maintenance and can be left outside for longer periods of time than a dog.

I’m grateful he has found employment that better suits his talents…


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ASACapt

I understand MY Netjets 401k very well. I don’t work for your company. The IRS limits are the same regardless though. I like how you came back and added more information later though that changes the equation and then told me I don’t know what I’m talking about. You originally said your company has a 10% match. Then you came back and said they match 100% of your 10%. That changes the numbers entirely.

My company matches 58% of 20% up to the IRS limit of $19500 for 2021. It still works out to be $11310 of a match because once the 401k is funded my matching stops. The math works the same if I take 20% of a 20k paycheck and matched at .58 to the $19500 limit or .58 of 19500. It’s still $11310 or .58 of $19500. Not sure what you think I’m missing here.

Like GeeWiz said, we still have the FDP program and the total company contribution of $58k. In my numbers provided I’m shy of that limit. I’m not over 50 and don’t have the catch up allowance.

At your airline using your new numbers: If you make 10k in one paycheck, then your 10% contribution is $1000. Now you’re saying your company matches 100% of that. That’s not a 10% match. That’s a 100% match limited to 10%. So you get to put in $2000 for a $10k paycheck. It will take you 19.5 paychecks to become funded. Yes at 100% match of 10% your contribution is $19500 and your company match is also $19500. 19500\19500 is 1 or a 100% match up to 10%, not a 10% match.

Using the same paycheck numbers above, If it were a 10% match then you would only receive a $100 match for that $1000 contribution. 100*19.5 paychecks is still $1950 total match. 10% match of $19500 is also $1950. The math works the same.

This is the math I used based on your 10% match info you provided. What am I missing here since I’m so 401k dumb?

What airline provides a 100% match to the $19500 limit and a 2% DC?


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ASACapt

YOU can only contribute $19500 (under 50) for 2021. Your COMPANY can contribute up to the $58k limit and more than $19500.

I’m aware of both IRS limits (3 if you’re over 50). But YOUR 2021 contribution is still limited to $19500.


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DenVa

Good for him, but you seem to have brought it up in the context of, “look at what’s achievable over here.” So, for context, I think days worked is appropriate. Especially, for someone reading it making career decisions. 1/2/3 offs are achievable most anywhere.

Pervis

Pilots are strange. ‘You’ll pay a million/year to work Wednesday’s. Is that every Wednesday?’ It is very common for our owners to be advanced in age continuously working the entire flight before attending their meetings on the other end. Then repeat on their return home.

More money takes more effort. The numbers mentioned here do indeed require extra effort. The point is the option to work that much is available. Those who work less make less. The same result in any industry. That said, base plus FDP plus OT is real money per the CBA. Some variable but averages are a pretty good measure and form a pretty good basis when making the decision where to work.

Zudd

That's fair. You're absolutely correct. I guess my point was more about the fleet he's on. Had he taken the upgrade he would have been on a fleet not capable of making that kind of money, even at Captain rates. His QOL and pay are better with 3 stripes than with 4.

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dfw106948

Since you mentioned it you knew the question would come.

What fleet is he on and why cant he make that on other fleets?

Pervis

Large cabin aircraft pay a premium. That includes the Global 5000/6000 and Challenger 650. I believe the Global 7500 will pay a bit more once on line. I too flew with an FO recently who said he’s making over 200k (not sure what schedule) on a regular basis and would take a pay cut as a Captain in the small cabin fleets. The large cabin go very senior though for both seats.