It's all on the Spirit employee website. Have to search for the forms.

The buy up is based on W2 earnings and can be done at anytime, not just during open enrollment and is on the webpage as well.

Happy hunting

 

Oh boy. So jet blue- 5% without strong retirement and scope but a promised path to parity at the top of the scale is looking pretty ahhhh weak

 

I've been all over ESS and no joy. Any spot specifically

 

Main Page

Open Enrollment in the middle of the page, click on "more" on the bottom right of that section.

Scroll down

LTD Buyup and Voluntary Life forms are at bottom

 

 

I guess we know why the company requested five days of negotiations instead of the regular three now don't we!? They wanted to get the TA hammered out before the UAL news broke. Interesting development when the TA was supposedly so close.

 

You better not say that! It gets too many on here upset if you want to better your financial situation in life outside NKS.

 

That's the best thing you can do for you and your family, it was the way you said it, it insulted pretty much every pilot working here including yourself.

 

Yeah, I could tell. When you all were at your regional airline, did it insult the lifers there as well as others seeking to get out just because you wanted to improve your financial situation and job security? You all just need to quit being so sensitive.
Not saying it is a bad place to be at all, it is actually a good place with good people. But when you compare what is being negotiated and what other airlines are getting, it starts to have diminishing returns by staying and working here unless we are compensated competitively with our peers. You all are smart, run the numbers in retirement alone and look at the difference. Many of you that where insulted are in your early 30's. Keep in mind that you need anywhere from $300k-$1,000,000 at retirement just for healthcare issues. After that you are going to need your retirement money to live off of. A 9% match is going to be a struggle to get you there.
When I jump seat offline and other pilots cringe about Spirit and pay rates, I don't get all upset like many on here do about being "insulted" I sit and completely agree with them it needs a lot of work to bring us up to industry standards. With what I have been hearing, we are still going to be discounted. Now do we suck it up to get a contract right away or do we fight for three to five years for better pay and benefits and give up those years of increased compensation?

 

Many guys don't understand the retirement numbers. If you make over $200,000 you are leaving money on the table with our match. 9% of $200,000 is $18,000 which is the max you can put in personally if you're under 50. Since it's a match you are getting nothing on any money you make over $200,000. Even a 9% defined contribution would be better than our current 9 matching because at least then you would be actually getting 9% of your wages.

Let's say they keep the match and then add a small 4% defined contribution on top of it. It would appear that you are getting 13% from the company. You aren't if you make over $200,000. Let's say you make $250,000 you're getting $18000 on your first $200,000 by way of a match assuming you put in your own 9% (another draw back). But then you're maxed out on the match. You,ll get 4% of the whole $250k but you missed out on the 9% of that last $50k because you maxed out at 200,000. 9% of $50,000 is $4500. You left that on the table if you agree to a match/DC combo instead of a straight DC for the same percentage.

Not to mention that as you start making more money or you are over 50 and doing catch up contributions every dollar you put in because you have to to get a match counts against the combined total of $53000 that can go into your account annual from both you and the company. Do you really want your $18k limiting what they will be putting in when you could be investing it elsewhere and taking full advantage of the possible $53000 you could be getting from the company.

I know it can be hard to understand the way I put it but the fact is that you leave money on the table when you have a match. We need to dump the match in any retirement proposal. If you still want to contribute to that account you certainly can but don't let matching language limit what you should be getting which is a percentage of ALL your wages.

Many may also say they aren't making $200,000. Well if our captain wages go to where they should go especially in light of what appears to be uals new pay scale it's likely most everyone in the left seat will be making close to $200,000 or more.