Pvsl2
10-11-2020 | 04:36 AM
#31
Line Holder
Joined: Jul 2014
Posts: 872
Likes: 32
Some of the widebody captains are currently making 40-50 grand a month. Let's say they max their 401k on the first check and their last few dollars of earnings are in the 35% tax rate thats a savings of 9100 on their 26000 401k contribution. Many also have sick banks to burn.
10-11-2020 | 05:08 AM
#32
On Reserve
Joined: Dec 2016
Posts: 15
Likes: 0
10-11-2020 | 06:06 AM
#33
Orbis Non Sufficit
Joined: Oct 2015
Posts: 788
Likes: 10
Your company contribution will continue. The rub for this particular individual was that he couldn’t continue to put in HIS OWN money.
10-11-2020 | 06:44 AM
#34
New Hire
Joined: Sep 2020
Posts: 5
Likes: 0
For two years, I will still be a United Pilot for pay purposes. I will be able to go to my PRAP page, and designate a percentage of my pay to contribute to my 401k on a pre-tax basis. I could even designate a post-tax amount, if I wanted to exceed $64k. Is this not correct?
Thanks.
10-11-2020 | 07:32 AM
#35
Orbis Non Sufficit
Joined: Oct 2015
Posts: 788
Likes: 10
Sorry to be so dense, I still don't understand.
For two years, I will still be a United Pilot for pay purposes. I will be able to go to my PRAP page, and designate a percentage of my pay to contribute to my 401k on a pre-tax basis. I could even designate a post-tax amount, if I wanted to exceed $64k. Is this not correct?
Thanks.
For two years, I will still be a United Pilot for pay purposes. I will be able to go to my PRAP page, and designate a percentage of my pay to contribute to my 401k on a pre-tax basis. I could even designate a post-tax amount, if I wanted to exceed $64k. Is this not correct?
Thanks.
10-11-2020 | 07:46 AM
#36
On Reserve
Joined: Jun 2019
Posts: 16
Likes: 0
From PVSL2 FAQ’s,
Q18. Will pilots on P-VSL receive company contributions (employer contributions) to their PRAP?
A. Yes, 16% B/C Plan contribution is the same as for an active pilot.
Q19. Can P-VSL pilots contribute (employee contributions) to the PRAP? A. Yes, it is the same as for an active pilot.
Q20. Will I receive RHA contributions?
A. Yes. These contributions will be the same as for an active pilot.
Q18. Will pilots on P-VSL receive company contributions (employer contributions) to their PRAP?
A. Yes, 16% B/C Plan contribution is the same as for an active pilot.
Q19. Can P-VSL pilots contribute (employee contributions) to the PRAP? A. Yes, it is the same as for an active pilot.
Q20. Will I receive RHA contributions?
A. Yes. These contributions will be the same as for an active pilot.
10-11-2020 | 11:13 AM
#38
Orbis Non Sufficit
Joined: Oct 2015
Posts: 788
Likes: 10
I agree with you. 63 1/2.....737 CA. He would have lined up perfectly for this; same thing with the last one. I’m not sure how much better he thinks he will do grinding it out to the bitter end.
