Spirit of NKS, Part II
12-09-2015 | 12:09 PM
#1631
ULTP-Ultra Low Tier Pilot
Joined: Dec 2007
Posts: 3,228
Likes: 0
Yeah that mostly likely true, but that might only be on the part that the company pays for... Sorry to hear you out I wish you well and the return back to the cockpit soon!
Found this for you:
How to Avoid Taxes on Life and Disability Insurance - MarketWatch
Now for the good news: LTD benefits are generally income-tax-free when you, rather than your employer, pay the premiums. On the other hand, if your employer pays the premiums as a tax-free fringe, any LTD benefits will be fully taxable to you. The same is true if you set aside part of your salary to pay the premiums with before-tax dollars under your employer's cafeteria benefit plan. Here are two strategies to deal with this tax dilemma.
* If LTD benefits would be taxable because your employer is paying the premiums, the preferred solution is to arrange for the premiums to be paid with after-tax dollars by withholding from your salary checks. That way, the premiums are treated as part of your taxable salary, which will cause a slight increase in your income tax bill. However any LTD benefits will be tax-free, which is the bigger consideration here.
Found this for you:
How to Avoid Taxes on Life and Disability Insurance - MarketWatch
Now for the good news: LTD benefits are generally income-tax-free when you, rather than your employer, pay the premiums. On the other hand, if your employer pays the premiums as a tax-free fringe, any LTD benefits will be fully taxable to you. The same is true if you set aside part of your salary to pay the premiums with before-tax dollars under your employer's cafeteria benefit plan. Here are two strategies to deal with this tax dilemma.
* If LTD benefits would be taxable because your employer is paying the premiums, the preferred solution is to arrange for the premiums to be paid with after-tax dollars by withholding from your salary checks. That way, the premiums are treated as part of your taxable salary, which will cause a slight increase in your income tax bill. However any LTD benefits will be tax-free, which is the bigger consideration here.
That's good information to have. Something that any LTD policy we agree to (whenever that happens) should include; after tax dollars for any buy up policy.
12-09-2015 | 12:12 PM
#1632
Line Holder
Joined: Sep 2014
Posts: 683
Likes: 30
Wheres my boy Lobeaux?
12-09-2015 | 12:20 PM
#1633
Line Holder
Joined: Dec 2014
Posts: 93
Likes: 0
Just my personal opinion we should be paying any LTD with after tax dollars and screw the companies portion that they put in
12-09-2015 | 12:25 PM
#1634
Gets Weekends Off
Joined: Oct 2010
Posts: 4,603
Likes: 0
This is the real chart. The other charts are not valid including the one in the email. You can't compare what we would make 4 years from now to what they are making today. We have to assume they will all climb in the next four years and possibly substantially. Contract 2010 looked ok on paper looking at dos + 4 but guess what? Pairity was never realized because everyone else got raises while we were only half way through our term. That's not pattern bargaining or even pairity. You have to get pairity at dos or be industry leading at dos for either definition to apply.
This chart gets uglier if you show legacy rates. The chart should also stop at year 12 because that's where everyone else's pay tops out. Compare year 12 to year 12 and it makes the top almost as disgusting as the bottom. So apples to apples we would still be the lowest paid at dos for years 1-12.
This offer was basically a continuation of contract 2010 while also dropping transition language and adding a couple percent retirement not realized until year 4. So all in it was pretty much a concessionary offer to our current contract. Is that a joke?
This chart gets uglier if you show legacy rates. The chart should also stop at year 12 because that's where everyone else's pay tops out. Compare year 12 to year 12 and it makes the top almost as disgusting as the bottom. So apples to apples we would still be the lowest paid at dos for years 1-12.
This offer was basically a continuation of contract 2010 while also dropping transition language and adding a couple percent retirement not realized until year 4. So all in it was pretty much a concessionary offer to our current contract. Is that a joke?
Last edited by Qotsaautopilot; 12-09-2015 at 12:41 PM.
12-09-2015 | 01:51 PM
#1639
Gets Weekends Off
Joined: Mar 2015
Posts: 815
Likes: 0
From: Low paid Airbus gear slinger
Bendo's podcast is out. You gotta listen to it. He's handing out high fives like they candy!
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