RHA VEBA Vacation email
12-10-2017, 09:25 AM
#4
Gets Weekends Off
Joined APC: May 2009
Position: The GF of FUPM
Posts: 3,073
I received the letter.
"You are receiving this notice because you may be eligible to make a post-tax contribution to the United Airlines Pilot Retirement Account Plan (“PRAP”) for the 2017 plan year, which ends December 31, 2017.
Post-tax contributions can be made after you have made the maximum pre-tax and/or Roth 401(k) deferral contribution for 2017 ($18,000 if you are under age 50, plus an additional $6,000 if you are age 50 or older in 2017). Contributions made on your behalf will also be considered in the calculation"
"You are receiving this notice because you may be eligible to make a post-tax contribution to the United Airlines Pilot Retirement Account Plan (“PRAP”) for the 2017 plan year, which ends December 31, 2017.
Post-tax contributions can be made after you have made the maximum pre-tax and/or Roth 401(k) deferral contribution for 2017 ($18,000 if you are under age 50, plus an additional $6,000 if you are age 50 or older in 2017). Contributions made on your behalf will also be considered in the calculation"
12-10-2017, 09:48 AM
#6
Gets Weekends Off
Joined APC: May 2009
Position: The GF of FUPM
Posts: 3,073
There are probably some relatively minor tax implications, but I don't know enough to comment on them.
On the plus side, any pre-tax monies that you can stash away to be used later...seems to be a no-brainer to me since you'll lower your taxable income and add to your account. That is, of course, provided that you and your spouse don't meet an untimely demise and just wind up leaving that money to the gubmint.
On the plus side, any pre-tax monies that you can stash away to be used later...seems to be a no-brainer to me since you'll lower your taxable income and add to your account. That is, of course, provided that you and your spouse don't meet an untimely demise and just wind up leaving that money to the gubmint.
12-10-2017, 11:38 AM
#7
Banned
Joined APC: Jun 2008
Position: A320 Cap
Posts: 2,282
Originally Posted by WhisperJet
I have a few days of monthly vacation left. I don't really plan on using them next year. What are the pros and cons of forfeiting them into the RHA vs the PRAP? I'm late 30s.
Thanks guys.
Thanks guys.
However... if you are not married and/or don’t have kids, you cannot designate a beneficiary. So if you die, that money goes back into the pilot pool. Just FYI
12-10-2017, 02:32 PM
#8
Gets Weekends Off
Joined APC: Mar 2005
Posts: 392
Originally Posted by gettinbumped
However... if you are not married and/or don’t have kids, you cannot designate a beneficiary. So if you die, that money goes back into the pilot pool. Just FYI
I have a friend who's dad was an executive with a VEBA and he told me about all the things he purchased with it. It's not just for copays, folks!
It's a very flexible benefit and the more I learn about it the more I like it.
12-10-2017, 03:53 PM
#9
Gets Weekends Off
Joined APC: Mar 2012
Position: 777
Posts: 2,158
Originally Posted by oldmako
I received the letter.
"You are receiving this notice because you may be eligible to make a post-tax contribution to the United Airlines Pilot Retirement Account Plan (“PRAP”) for the 2017 plan year, which ends December 31, 2017.
Post-tax contributions can be made after you have made the maximum pre-tax and/or Roth 401(k) deferral contribution for 2017 ($18,000 if you are under age 50, plus an additional $6,000 if you are age 50 or older in 2017). Contributions made on your behalf will also be considered in the calculation"
"You are receiving this notice because you may be eligible to make a post-tax contribution to the United Airlines Pilot Retirement Account Plan (“PRAP”) for the 2017 plan year, which ends December 31, 2017.
Post-tax contributions can be made after you have made the maximum pre-tax and/or Roth 401(k) deferral contribution for 2017 ($18,000 if you are under age 50, plus an additional $6,000 if you are age 50 or older in 2017). Contributions made on your behalf will also be considered in the calculation"
Don't know if I'll be able to do that this year. I've been putting a big chunk of profit sharing into the 401k.
12-10-2017, 04:03 PM
#10
Gets Weekends Off
Joined APC: Jun 2010
Position: 747 Captain, retired
Posts: 928
Originally Posted by oldmako
There are probably some relatively minor tax implications, but I don't know enough to comment on them.
On the plus side, any pre-tax monies that you can stash away to be used later...seems to be a no-brainer to me since you'll lower your taxable income and add to your account. That is, of course, provided that you and your spouse don't meet an untimely demise and just wind up leaving that money to the gubmint.
On the plus side, any pre-tax monies that you can stash away to be used later...seems to be a no-brainer to me since you'll lower your taxable income and add to your account. That is, of course, provided that you and your spouse don't meet an untimely demise and just wind up leaving that money to the gubmint.
Last edited by krudawg; 12-10-2017 at 04:04 PM. Reason: spelling
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