Looking to the Future
03-21-2018, 07:47 AM
#74
Gets Weekend Reserve
Joined APC: Jul 2007
Posts: 3,612
Looking to the Future
Originally Posted by Lotsof Blue
Retirement Q? Does SW do a DC and profit sharing into the 401k, or is it only profit sharing now? Thx!
2 separate qualified retirement accounts:
Your 401k account into which you contribute the percentage of your income for your personal contribution, and the company contributes 14.2% (2018 figure - goes up to 15% in January 2019) into the same account.
Profit sharing account in which the company dumps your profit sharing amount is separate from your 401k account described above, but still a qualified retirement account. What ties these accounts together from the Company’s perspective is the total amount that the company can put into any of your qualified retirement accounts. Once you reach the IRS limits, the excess is paid to you in cash, or you can choose to invest that excess in nonqualified plans.
You can borrow from your 401k account; you cannot borrow from your ProfitSharing account.
03-22-2018, 02:13 AM
#75
Gets Weekends Off
Joined APC: Jan 2018
Position: FO
Posts: 180
Originally Posted by WHACKMASTER
Nobody’s insinuating that a civilian with 1,700 TT should get hired over a fighter jock with 1,700 TT. What I find ludicrous is that there are thousands of 10,000+ TT RJ captains with oodles of turbojet 121 PIC time that don’t have skeletons in their closet and yet can’t get an interview while someone with zero 121, crew, high density airport, CRM, etc. experience gets hired with 1,700 TT. That to me is ridiculous. Nothing you can say will change my mind.
Also, earlier somebody said mil guys 1,700 hours or something, but that also doesn’t include the literally 1,000s of hours in the sim. My buddy has been flying the C17 for 8 years now in the reserves, but he does 21 sims a year and only flies the actual jet once a month. I bet you fighter guys have more sim time than him.
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