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05-11-2021 | 02:21 PM
#201
Gets Weekends Off
Joined: Oct 2005
Posts: 955
Likes: 0
From: 737 Right
I suppose everyone has different goals and savings strategies. But if one desires to save as much tax deferred money as possible, the way I figure it anyone who earns less than around $257,000 needs to divert their profit sharing to a qualified account in order to max out the 415c limit. And once it's maxed out, excess just spills over into cash anyway (or, if elected, into a non-qualified plan).
If you put money from a cash bonus plan into your retirement account, is it considered an employer contribution? I think not, but I could be wrong.
05-11-2021 | 04:33 PM
#202
Line Holder
Joined: Mar 2015
Posts: 1,549
Likes: 62
I don’t feel anything we pursue expends negotiating capital. We are so far behind other carriers in almost every aspect and the staffing challenges are already moving back into the forefront, especially with the furlough debacle, that no issue should be abandoned in favor of another. Every demand can be negotiated on its own merits and not compromised for other priorities.
As far as dispensing of funds, we all have different situations and should have flexibility in how we manage our benefits to meet our needs.
As far as dispensing of funds, we all have different situations and should have flexibility in how we manage our benefits to meet our needs.
”Don’t want to spend negotiating capital”, “what will we give up for that”, and “I’d do this job for less” are all the same old tired excuses people trot out when they want to accept an industry sub standard contract.
Not only can other airlines choose cash or to stick the cash into their retirement account and defer the taxes, Delta can even go over the $55k cap with their “Cash Balance Plan”.
Why are people so scared of negotiating or scared of Pilots having the individual choice of cash or tax deferred?
05-11-2021 | 06:48 PM
#203
Gets Weekends Off
Joined: Feb 2018
Posts: 1,264
Likes: 0
The good ol’ “squozen balloon” theory.
05-11-2021 | 07:42 PM
#204
Line Holder
Joined: Dec 2017
Posts: 1,122
Likes: 101
From: 737 FO
idgaf about anyone else's balloon. After getting a bogus WARN letter three weeks before Christmas, my goal is to eat the golden goose. It'll never happen, but I want to get as much for me as possible, every. single. time.
that attitude seems to work for the c-suite, why can't I have it, too?
that attitude seems to work for the c-suite, why can't I have it, too?
05-12-2021 | 05:02 AM
#205
Gets Weekends Off
Joined: Jun 2010
Posts: 7,573
Likes: 283
From: DOWNGRADE COMPLETE: Thanks Gary. Thanks SWAPA.
idgaf about anyone else's balloon. After getting a bogus WARN letter three weeks before Christmas, my goal is to eat the golden goose. It'll never happen, but I want to get as much for me as possible, every. single. time.
that attitude seems to work for the c-suite, why can't I have it, too?
that attitude seems to work for the c-suite, why can't I have it, too?
05-12-2021 | 05:09 AM
#206
weekends off? Nope...
Joined: Apr 2014
Posts: 2,407
Likes: 134
so we need to change the plan.
05-12-2021 | 10:34 AM
#207
Thread Starter
Gets Weekend Reserve
Joined: Jul 2007
Posts: 4,259
Likes: 240
From: B737CA
05-12-2021 | 09:12 PM
#209
Gets Weekends Off
Joined: Mar 2017
Posts: 588
Likes: 0
I’m all for an individual choice
05-13-2021 | 02:33 AM
#210
Last To Know First To Go
Joined: Sep 2016
Posts: 620
Likes: 1
United has the choice of cash or qualified retirement plan (tax deferred).
Delta has the choice and they even have a way to avoid taxes with their excess cash over $55k per year if they put it into their “Market Based Cash Balance Plan”.
American hasn’t turned a profit in so long nobody remembers how it works.
So I’m pretty sure it can be done, and the blame for why it isn’t done at SWA does not lie on the IRS boogeyman.
Delta has the choice and they even have a way to avoid taxes with their excess cash over $55k per year if they put it into their “Market Based Cash Balance Plan”.
American hasn’t turned a profit in so long nobody remembers how it works.
So I’m pretty sure it can be done, and the blame for why it isn’t done at SWA does not lie on the IRS boogeyman.
^^^^^That made me Giggle^^^^^
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