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05-11-2021, 02:21 PM
#201
Gets Weekends Off
Joined APC: Oct 2005
Position: 737 Right
Posts: 951
Originally Posted by ZapBrannigan
I'm sure I'm missing something, but if you're exceeding the IRS max, the remainder spills back as cash anyway. So why do most of us even care? Is it worth expending negotiating capital on this?
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
Gets Weekends Off
Joined APC: Mar 2015
Posts: 1,091
Originally Posted by Grumpyaviator
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 APC: Feb 2018
Posts: 1,256
Originally Posted by Profane Kahuna
ding ding ding....we have a winner!
”Don’t want to spend negotiating capital”, “what will we give up for that” ... are all the same old tired excuses people trot out when they want to accept an industry sub standard contract.
”Don’t want to spend negotiating capital”, “what will we give up for that” ... are all the same old tired excuses people trot out when they want to accept an industry sub standard contract.
05-11-2021, 07:42 PM
#204
Gets Weekends Off
Joined APC: Dec 2017
Position: 737 FO
Posts: 947
Originally Posted by Lewbronski
The good ol’ “squozen balloon” theory.
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 APC: Jun 2010
Position: DOWNGRADE COMPLETE: Thanks Gary. Thanks SWAPA.
Posts: 6,599
Originally Posted by Zard
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 APC: Apr 2014
Posts: 1,935
Originally Posted by ZapBrannigan
I'm sure I'm missing something, but if you're exceeding the IRS max, the remainder spills back as cash anyway. So why do most of us even care? Is it worth expending negotiating capital on this?
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
so we need to change the plan.
05-12-2021, 10:34 AM
#207
Gets Weekend Reserve
Thread Starter
Joined APC: Jul 2007
Posts: 3,580
Originally Posted by Smooth at FL450
because as long as I’ve got a mortgage and college to pay for, I’d like the individual choice to get it ALL as cash, not just the spillover. The way the company set up the plan years ago, its subject to group think.
so we need to change the plan.
so we need to change the plan.
05-12-2021, 09:12 PM
#209
Gets Weekends Off
Joined APC: Mar 2017
Posts: 588
Originally Posted by Smooth at FL450
because as long as I’ve got a mortgage and college to pay for, I’d like the individual choice to get it ALL as cash, not just the spillover. The way the company set up the plan years ago, its subject to group think.
so we need to change the plan.
so we need to change the plan.
I’m all for an individual choice
05-13-2021, 02:33 AM
#210
Last To Know First To Go
Joined APC: Sep 2016
Posts: 604
Originally Posted by Profane Kahuna
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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