401K B Fund Contributions
06-13-2019, 07:08 AM
#21
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Posts: 3,655
Originally Posted by Aquaticus
The combined 401k assetts of our pilot group at Schwab was north of 7 billion. For 13,000 pilots that is pretty impressive.
06-13-2019, 08:01 AM
#22
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Originally Posted by full of luv
Not to downplay that achievement, but it may include a fair amount of retired pilots as well.
06-13-2019, 08:13 AM
#23
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Joined APC: Feb 2011
Posts: 3,866
Originally Posted by Aquaticus
The combined 401k assetts of our pilot group at Schwab was north of 7 billion. For 13,000 pilots that is pretty impressive.
06-13-2019, 03:54 PM
#24
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Joined APC: Mar 2005
Posts: 392
Originally Posted by O2pilot
Most of them are pulling those funds out for living expenses and there aren't enough of them to skew the other 50,000+ employees on the 401k. If you ask the R&I people they will tell you the data concerning the pilot group.
It’s for pilots only. Avoids safe harbor restrictions and has other benefits.
06-14-2019, 04:17 AM
#26
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Joined APC: Dec 2008
Position: 777 Cap
Posts: 199
Originally Posted by APC225
$538k per pilot. Managers and above may skew it higher, but we do have a lot of new hires, which is a good thing.
9.88B as of yesterday.
10-07-2019, 08:17 PM
#29
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Posts: 869
Having a discussion in the Frontier forum about total compensation over a career. Does "B fund" just refer to the company's "matching" or contribution to a pilot's 401K? Is there anything else in your compensation package besides hourly rate, 401K matching, and profit sharing? I find it interesting how (according to their forum) attrition at F9 has slowed/stopped since they got their contract when their total compensation package doesn't seem like it would provide roughly equal career earnings. There's 30-40 yr old guys saying they're staying at F9 and not interested in a legacy because they want the fast QOL and the money will be pretty comparable. I can't believe that is the case when they'll be topped out at narrow body CA pay for 25 years
10-07-2019, 08:29 PM
#30
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Posts: 491
Originally Posted by spaaks
Having a discussion in the Frontier forum about total compensation over a career. Does "B fund" just refer to the company's "matching" or contribution to a pilot's 401K? Is there anything else in your compensation package besides hourly rate, 401K matching, and profit sharing?
The company puts in an additional 16% on top of pilot earnings. So if a pilot earns $200k in a year, they put in an addition $32k into the pilots 401k. The pilot can also put in an additional $19k ($25k if 50+).
Both of those are called “The B Fund” although its actually just a 401k.
We also have an RHA, which is a Retiree Health Account. IT can be used for any health related expense after retirement. The company puts in $1 for every hour we fly. They also put in an additional 16% of our income once we max our 401k.
Many of us also have a frozen A plan, or a PBGC payment from terminated pensions.
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