401K B Fund Contributions
10-09-2019 | 04:55 PM
#71
Gets Weekends Off
Joined: Jul 2008
Posts: 121
Likes: 0
I assume RHA and HRA are the same thing?
i'm on YBR and I have $1,000 in my RHA, pardon my lack of research (i didn't even know this existed). What are the restrictions on spending this money, can I spend it now or is there an age limit...etc.? I don't see anywhere where it describes how to set up and account with whatever vendor they use to get a debit card or whatever to be able to spend money from this account.
thanks
i'm on YBR and I have $1,000 in my RHA, pardon my lack of research (i didn't even know this existed). What are the restrictions on spending this money, can I spend it now or is there an age limit...etc.? I don't see anywhere where it describes how to set up and account with whatever vendor they use to get a debit card or whatever to be able to spend money from this account.
thanks
10-09-2019 | 05:04 PM
#72
Line Holder
Joined: May 2015
Posts: 1,200
Likes: 33
From: 777 CA
I assume RHA and HRA are the same thing? i'm on YBR and I have $1,000 in my RHA, pardon my lack of research (i didn't even know this existed). What are the restrictions on spending this money, can I spend it now or is there an age limit...etc.? I don't see anywhere where it describes how to set up and account with whatever vendor they use to get a debit card or whatever to be able to spend money from this account.
thanks
thanks
By the off chance you haven’t bothered to, it’s 24-G
10-09-2019 | 05:24 PM
#73
Gets Weekends Off
Joined: Jul 2008
Posts: 121
Likes: 0
10-09-2019 | 05:24 PM
#74
Gets Weekends Off
Joined: Feb 2011
Posts: 3,866
Likes: 0
I assume RHA and HRA are the same thing?
i'm on YBR and I have $1,000 in my RHA, pardon my lack of research (i didn't even know this existed). What are the restrictions on spending this money, can I spend it now or is there an age limit...etc.? I don't see anywhere where it describes how to set up and account with whatever vendor they use to get a debit card or whatever to be able to spend money from this account.
thanks
i'm on YBR and I have $1,000 in my RHA, pardon my lack of research (i didn't even know this existed). What are the restrictions on spending this money, can I spend it now or is there an age limit...etc.? I don't see anywhere where it describes how to set up and account with whatever vendor they use to get a debit card or whatever to be able to spend money from this account.
thanks
10-09-2019 | 05:28 PM
#75
Gets Weekends Off
Joined: Jul 2008
Posts: 121
Likes: 0
10-09-2019 | 05:29 PM
#76
Line Holder
Joined: May 2015
Posts: 1,200
Likes: 33
From: 777 CA
Ok sorry. Just surprised. Maybe on those too frequent short calls take some time to read cover to cover. If you don’t know it you get bit. (just like reserve rules and scheduling)
10-09-2019 | 05:43 PM
#77
Gets Weekends Off
Joined: Jul 2008
Posts: 121
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Do most people wait until that salary threshold when the company spillage starts to open and/or contribute to an HRA? Or do they contribute to the HRA early in their careers even while they're not getting any company money added in? All i've been doing so far is maxing out my 401k early and doing a "backdoor roth conversion" (thanks to whichever CA told me about that!)
Last edited by grahamlax; 10-09-2019 at 06:11 PM.
10-10-2019 | 04:18 AM
#78
Pilot Response
Joined: May 2011
Posts: 485
Likes: 0
From: A320 Captain
Do most people wait until that salary threshold when the company spillage starts to open and/or contribute to an HRA? Or do they contribute to the HRA early in their careers even while they're not getting any company money added in? All i've been doing so far is maxing out my 401k early and doing a "backdoor roth conversion" (thanks to whichever CA told me about that!)
HRA=Health Reimbursement Account, formerly HSA "Health Savings Account" is used only with a High Deductible High Premium Health Plan to pay current medical expenses. You contribute pre-tax dollars and the company contributes $1500 in "seed money" annually. It's different from the HCFSA - "Flex Spending" Account in what it can be used for and that the HCFSA monies must be used on an annual basis i.e "use or lose" whereas the HRA is NOT, it accumulates year over year.
RHA=Retiree Health Account, UA's name for the VEBA in section 403 as discussed above. This is where your $1 per flight hour, any and all retirement contributions over the IRS limit and forfeited vacation goes.
Cheers
10-10-2019 | 04:42 AM
#79
Gets Weekends Off
Joined: Dec 2008
Posts: 199
Likes: 0
From: 777 Cap
RHA normally cannot be used until retired, however if a person on LTD is deemed permanently disabled, they can use the funds.
Permanently disabled does not preclude an individual from returning to work
Just means that a pilot has been disabled for two years or has a condition that is reasonably expected to be permanent
Permanently disabled designation triggers certain contractual provisions
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