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09-25-2012, 10:27 AM

#22011

Geardownflaps30

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Joined APC: Jun 2011

Posts: 1,152

Quote:

Originally Posted by SuperPilotJesse

Anyone care to give me LOA 12-04?

I just got forwarded this letter with the hr.comair.com it says to refer to this LOA to know about your flight benefits. I don't have the LOA and the new website is not active for another week?

Thanks.

The LOA is posted on Epic as well as on the MEC/Local council websites, etc.

What is your question about your flight benefits? If you are furloughed or retired there is no changes to what you already have (if that helps).

09-25-2012, 10:46 AM

#22012

H46Bubba

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Joined APC: Apr 2007

Position: NOYDB

Posts: 876

Quote:

Originally Posted by tjflyboy

You have to request Fidelity to make any changes. They won't just cut you a check, lots of tax implications. Just roll it over to whatever 401k you have now or leave it where its at.

Yeah, they already did..yesterday. Comair requested, I didn't. Checks in the mail.

09-25-2012, 11:29 AM

#22013

jrmyl

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Joined APC: Jan 2006

Position: 747

Posts: 356

Quote:

Originally Posted by H46Bubba

Yeah, they already did..yesterday. Comair requested, I didn't. Checks in the mail.

Not sure if that is legal or not, but in any case, I think you have up to 60 days to put that check in a new 401k without any tax penalties.

(and I'm not a tax professional so if any other questions seek out someone more qualified than I)

09-25-2012, 11:38 AM

#22014

gatorhater

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Joined APC: Jul 2012

Position: 767 FO

Posts: 279

Don't cash the check. Take it to another investment house and let them walk you through the process. Tax implications are big and irreversible make sure you get it right.

09-25-2012, 11:59 AM

#22015

BlueMoon

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Joined APC: Feb 2007

Position: FO

Posts: 3,032

When I quit I opened a Scottrade rollover IRA to close out my Comair 401k, Fidelity mailed me a check which I had to take to Scottrade. My current companies 401k wasn't great and Scottrade had low fees. Took 30 minutes to open online and 10 minutes to drive to the office and drop the check off.

09-25-2012, 04:26 PM

#22016

Avroman

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Joined APC: Feb 2008

Position: FIRE ALPA

Posts: 3,082

Quote:

Originally Posted by tjflyboy

You have to request Fidelity to make any changes. They won't just cut you a check, lots of tax implications. Just roll it over to whatever 401k you have now or leave it where its at.

You probably won't be able to leave it where it's at. Either roll it into your current 401K (if it's of the same type, ie Traditional to traditional or roth to roth) Or more advised would be to open a rollover IRA with a brokerage of your choosing.

09-25-2012, 06:43 PM

#22017

tjflyboy

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Joined APC: Aug 2009

Posts: 63

Got letter stating I could just leave it there... Now I'm confused, nothing else sent to me, yet.

09-25-2012, 08:06 PM

#22018

texaspilot76

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Joined APC: Feb 2007

Position: Right Seat

Posts: 1,458

Any idea where the Comair airplanes are going? I assume that the 50 seaters will be parked, but what about the larger aircraft?

09-25-2012, 08:40 PM

#22019

CPZ175

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Joined APC: Jun 2010

Posts: 91

Any news yet on the "merger" fund? I realize there are bigger fish to fry with most of you still there, but just curious if the MEC has mentioned anything about it.

Best of luck,

Furloughed in '09