United Holding Back RHA funding
#11
Banned
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Joined APC: May 2014
Position: Tom’s Whipping boy.
Posts: 1,182
A PDR would be a waste of electrons.
My guess..they didn’t read the fine print when they agreed to the plan.
So to be clear.. my grief here is with a union that would agree to let an employer withhold pay for up to two weeks after pay day, and...
with an employer that would do that.
edit@Mako.. I just re-read my original post and where it said “ I can imagine”, it should of said I can’t imagine... as in I have no idea why they would agree to that.
Last edited by BMEP100; 08-20-2019 at 02:05 PM.
#12
Gets Weekends Off
Joined APC: May 2009
Posts: 1,820
I doubt the union has any control over disbursement of funds. Once they agreed to a plan that allows the company to hold the money for two weeks, they have no standing to complain about it not being promptly paid.
A PDR would be a waste of electrons.
My guess..they didn’t read the fine print when they agreed to the plan.
So to be clear.. my grief here is with a union that would agree to let an employer withhold pay for up to two weeks after pay day, and...
with an employer that would do that.
edit@Mako.. I just re-read my original post and where it said “ I can imagine”, it should of said I can’t imagine... as in I have no idea why they would agree to that.
A PDR would be a waste of electrons.
My guess..they didn’t read the fine print when they agreed to the plan.
So to be clear.. my grief here is with a union that would agree to let an employer withhold pay for up to two weeks after pay day, and...
with an employer that would do that.
edit@Mako.. I just re-read my original post and where it said “ I can imagine”, it should of said I can’t imagine... as in I have no idea why they would agree to that.
#14
<"Once they agreed to a plan that allows the company to hold the money for two weeks....
..my grief here is with [COLOR="red"]a union that would agree to let an employer withhold pay for up to two weeks after pay day, and...with an employer that would do that.">
It looks to me like this...
1. ALPA negotiates pilots annual wages in excess of 300K.
2. ALPA negotiates an additional 16% B/C Fund contribution.
3. Pilots can now easily exceed the IRS maximum annual 401k contribution limit.
4 ALPA negotiates RHA which allows pilots to accumulate these excess contributions tax-free.
5. The Company takes its sweet time moving the funds into tax-free RHA account
6. ALPA is to blame.
You insist that the union agreed to a policy and procedures which allows the company to delay the transfer of your money into your RHA. If that's the case, fine. Bash away and let your reps know it's unsat.
I'd simply like to know if that's an accurate claim.
..my grief here is with [COLOR="red"]a union that would agree to let an employer withhold pay for up to two weeks after pay day, and...with an employer that would do that.">
It looks to me like this...
1. ALPA negotiates pilots annual wages in excess of 300K.
2. ALPA negotiates an additional 16% B/C Fund contribution.
3. Pilots can now easily exceed the IRS maximum annual 401k contribution limit.
4 ALPA negotiates RHA which allows pilots to accumulate these excess contributions tax-free.
5. The Company takes its sweet time moving the funds into tax-free RHA account
6. ALPA is to blame.
You insist that the union agreed to a policy and procedures which allows the company to delay the transfer of your money into your RHA. If that's the case, fine. Bash away and let your reps know it's unsat.
I'd simply like to know if that's an accurate claim.
Last edited by oldmako; 08-21-2019 at 06:10 AM.
#15
Gets Weekends Off
Joined APC: Aug 2015
Position: Captain
Posts: 1,550
<"Once they agreed to a plan that allows the company to hold the money for two weeks....
..my grief here is with [COLOR="red"]a union that would agree to let an employer withhold pay for up to two weeks after pay day, and...with an employer that would do that.">
It looks to me like this...
1. ALPA negotiates pilots annual wages in excess of 300K.
2. ALPA negotiates an additional 16% B/C Fund contribution.
3. Pilots can now easily exceed the IRS maximum annual 401k contribution limit.
4 ALPA negotiates RHA which allows pilots to accumulate these excess contributions tax-free.
5. The Company takes its sweet time moving the funds into tax-free RHA account
6. ALPA is to blame.
You insist that the union agreed to a policy and procedures which allows the company to delay the transfer of your money into your RHA. I'd simply like to know if that's an accurate claim.
..my grief here is with [COLOR="red"]a union that would agree to let an employer withhold pay for up to two weeks after pay day, and...with an employer that would do that.">
It looks to me like this...
1. ALPA negotiates pilots annual wages in excess of 300K.
2. ALPA negotiates an additional 16% B/C Fund contribution.
3. Pilots can now easily exceed the IRS maximum annual 401k contribution limit.
4 ALPA negotiates RHA which allows pilots to accumulate these excess contributions tax-free.
5. The Company takes its sweet time moving the funds into tax-free RHA account
6. ALPA is to blame.
You insist that the union agreed to a policy and procedures which allows the company to delay the transfer of your money into your RHA. I'd simply like to know if that's an accurate claim.
Very well said!!!
I think you are wasting your time with him/her
Next week the complain may be the crew meals were not hot enough and ALPA did not specifically agreed upon the capability of the galley ovens
It will never stop
As I said before, A pilot that does not like ALPA will always blame ALPA. Black helicopters remember ?
#16
Banned
Thread Starter
Joined APC: May 2014
Position: Tom’s Whipping boy.
Posts: 1,182
I suppose that’s possible, considering that last year (2018) when I went to check the fund’s performance, the fund fact sheet posted was dated 2nd quarter 2013 and was for a fund that was closed years before and no one on R&I had a clue about it, but did get defensive when it was questioned.
The company, R&I, and AON Hewitt, all were pointing the finger at each other.
The thing that worries me most is how the payout of the fund is going to be handled, post retirement.
I just learned, through all this that the same group that administers the RHA payments is the same ones that manage the current HSA.
That is a mess.
#17
I really doubt it’s even mechanically possible to do it faster than 3 or 4 business days. Cash is deposited on payday, but PRAP deposits probably have to run through a different IRS pre screening I would think to make sure that whatever is done doesn’t have to be undone if it were done in error. That would add a business day. When the PRAP pings back that it’s full then another business day to authorize a RHA deposit, then another to send it over. I don’t see how they or the union could speed this up.
Last edited by APC225; 08-21-2019 at 09:39 AM.
#18
Gets Weekends Off
Joined APC: May 2009
Posts: 1,820
And so in the alternative, they didn’t agree to it and yet in all these years since.............what? It’s not a secret to anyone paying attention.
I suppose that’s possible, considering that last year (2018) when I went to check the fund’s performance, the fund fact sheet posted was dated 2nd quarter 2013 and was for a fund that was closed years before and no one on R&I had a clue about it, but did get defensive when it was questioned.
The company, R&I, and AON Hewitt, all were pointing the finger at each other.
The thing that worries me most is how the payout of the fund is going to be handled, post retirement.
I just learned, through all this that the same group that administers the RHA payments is the same ones that manage the current HSA.
That is a mess.
I suppose that’s possible, considering that last year (2018) when I went to check the fund’s performance, the fund fact sheet posted was dated 2nd quarter 2013 and was for a fund that was closed years before and no one on R&I had a clue about it, but did get defensive when it was questioned.
The company, R&I, and AON Hewitt, all were pointing the finger at each other.
The thing that worries me most is how the payout of the fund is going to be handled, post retirement.
I just learned, through all this that the same group that administers the RHA payments is the same ones that manage the current HSA.
That is a mess.
Last edited by JoePatroni; 08-21-2019 at 09:42 AM.
#19
My RHA shows a return of 9.91% YTD as of today.
I recall reading that these RHA amounts were invested in date targeted index funds depending on your age, but I can't find documentation to verify that.
I recall reading that these RHA amounts were invested in date targeted index funds depending on your age, but I can't find documentation to verify that.
#20
Banned
Thread Starter
Joined APC: May 2014
Position: Tom’s Whipping boy.
Posts: 1,182
I really doubt it’s even mechanically possible to do it faster than 3 or 4 business days. Cash is deposited on payday, but PRAP deposits probably have to run through a different IRS pre screening I would think to make sure that whatever is done doesn’t have to be undone if it were done in error. That would add a business day. When the PRAP pings back that it’s full then another business day to authorize a RHA deposit, then another to send it over. I don’t see how they or the union could speed this up.
Just like the B, C fund payments, and the company RHA payments, the capability exists for the company to make the deposits on the first business day following the “pay date”. Refer to your RHA account record and you will see the 80~ dollars each month is deposited on time. That’s all chump change, and at the discretion of the company.
They have no reason to make the big money deposits, promptly.
Btw, this all came to me from a fellow pilot who is an investment advisor, that was looking into his account and had corresponded with the R&I committee, last year. He showed me the email string.
So if there are a 1000 pilots in this same boat, that amounts to 2.5 million the company is holding back. It sounds like some of you are just fine with that..
Well, at least it isn’t and ugly tie.
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