Stop the revolving door
01-25-2022 | 10:49 AM
#81
On Reserve
Joined: Jan 2022
Posts: 13
Likes: 0
It’s just another reason people will chose another airline over Spirit. If Spirit had a competitive contract people wouldn’t leave and they wouldn’t need to put golden handcuffs on their employees. Anyways it still makes financial sense to leave vested or not.
01-25-2022 | 10:49 AM
#82
Perennial Reserve
Joined: Jan 2018
Posts: 14,248
Likes: 257
I'm not sure many new hires are going to be that concerned with the vestment period. I didn't know about it until whatever day in Indoc. Pay, domiciles and upgrade times should be top priority to keep people interested. A longer vestment period on the 401k could be "insurance" for the company as they can use that money to fund the training for new FOs due to attrition.
Pretty sure I did 1% contribution for the entire time I was at NK because I couldn't afford any more!
Pretty sure I did 1% contribution for the entire time I was at NK because I couldn't afford any more!
01-25-2022 | 10:58 AM
#83
On Reserve
Joined: Dec 2019
Posts: 43
Likes: 2
From: Bus Driver
Yea, your contribution is absolutely vested immediately. But NK is (unassumingly) using vestment as a carrot to stay with the company. I think I had 20k that the company gets back. Didn't phase me one bit...
01-25-2022 | 12:06 PM
#84
That/It/Thang
Joined: Aug 2020
Posts: 3,501
Likes: 367
Vesting periods aren't a carrot to get people to stay, its a way to help the company pay for the 401k program if people leave, the forfeited funds are sent back to the company for the purpose of paying for the program. I know this doesnt faze you, which is why I dont think the company set up a vesting program as a carrot, they know people will leave.
01-25-2022 | 12:40 PM
#85
Gets Weekends Off
Joined: Feb 2018
Posts: 201
Likes: 0
X100
Keep that revolving door going. 401k vesting pays for the new hire training. Helps all the rest of us. If you don't want to be here, no reason to stay! Please feel free to leave and pursue your greener pastures.
Keep that revolving door going. 401k vesting pays for the new hire training. Helps all the rest of us. If you don't want to be here, no reason to stay! Please feel free to leave and pursue your greener pastures.
01-25-2022 | 02:12 PM
#86
Line holder
Joined: Nov 2013
Posts: 4,179
Likes: 258
From: Aircraft & Seat: old & hard
Sorry, no. The only people that would not choose NK because of this are the ones planning to leave in less than 6 years. Forgive me for not wanting to waste NC on that. Training pay, first year pay, health insurance day1, reservere rules: YES. Vesting schedule, GMAFB.
01-25-2022 | 02:14 PM
#87
That/It/Thang
Joined: Aug 2020
Posts: 3,501
Likes: 367
Sorry, no. The only people that would not choose NK because of this are the ones planning to leave in less than 6 years. Forgive me for not wanting to waste NC on that. Training pay, first year pay, health insurance day1, reservere rules: YES. Vesting schedule, GMAFB.
01-25-2022 | 02:50 PM
#88
On Reserve
Joined: Jan 2022
Posts: 13
Likes: 0
Totally disagree. 6 years is a LONG time. Life happens. And a person shouldn’t have to give up a large part of their retirement just to take a new opportunity. If you have flown thousands of hours for this airline that is your hard earned money fair and square. You want to talk about a year or 2 maybe that’s fair but let’s at least be industry standard or better. Frontiers is only 3 years to be fully vested and every other airline doesn’t have any. Just another negative in our already bottom of the barrel contract.
01-25-2022 | 03:22 PM
#89
Gets Weekends Off
Joined: Feb 2018
Posts: 201
Likes: 0
Totally disagree. 6 years is a LONG time. Life happens. And a person shouldn’t have to give up a large part of their retirement just to take a new opportunity. If you have flown thousands of hours for this airline that is your hard earned money fair and square. You want to talk about a year or 2 maybe that’s fair but let’s at least be industry standard or better. Frontiers is only 3 years to be fully vested and every other airline doesn’t have any. Just another negative in our already bottom of the barrel contract.
And 6 years is a long time for a kindergartener. For a 40 year career professional - not so much
01-25-2022 | 03:25 PM
#90
Banned
Joined: Jul 2021
Posts: 551
Likes: 0
Totally disagree. 6 years is a LONG time. Life happens. And a person shouldn’t have to give up a large part of their retirement just to take a new opportunity. If you have flown thousands of hours for this airline that is your hard earned money fair and square. You want to talk about a year or 2 maybe that’s fair but let’s at least be industry standard or better. Frontiers is only 3 years to be fully vested and every other airline doesn’t have any. Just another negative in our already bottom of the barrel contract.
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