B fund status
10-04-2020, 12:30 PM
#21
Gets Weekends Off
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,160
Originally Posted by JurgenKlopp
I’m sure your financial guy will listen to your rant with a nice empty smile. Perhaps he will offer you any flavor of K Cup you can imagine. All the while he’s glad that you are paying his 2 points fee for underperforming a 60/40 Portfolio.
10-04-2020, 12:40 PM
#23
777 - ret
Joined APC: Apr 2020
Position: Waco CG-4 center seat
Posts: 863
Originally Posted by Andy
LOL! You retired at the right time, my friend.
Covid moved everyone's cheese. It's humorous to watch those that villianize their coworkers for what Covid has brought.
Covid moved everyone's cheese. It's humorous to watch those that villianize their coworkers for what Covid has brought.
Covid? I don’t wish these problems on anyone. There have been challenges before. There have been good times as well. One thing that is ALWAYS there ... the pilots that whine.
Villanize? If you say so but I’m no more a villain than the senior whining about what was taken from him by some junior guy.
10-04-2020, 01:52 PM
#24
Gets Weekends Off
Joined APC: Jul 2014
Posts: 783
The bottom third, half, or 3/4 don't owe you anything. Covid decimated your industry and now you want your coworkers to make you "whole" based on the best few years this industry has seen in 25 yrs. The odds are that you are making more with this TA with a better qol than you would if you took the downgrade, bump, or loss of seniority without it. You're pointing fingers without having done a fair or reasonable assessment. If you truly think this was a handout of a TA and every "junior" person needs to pay you back you might want to actually wait until the TA has a material impact on your pay. Up until November your paychecks are down solely due to covid. From the poor questions that are out there that are easily answered by reading the TA I am guessing that most No voters still haven't read it or understood it.
10-04-2020, 03:21 PM
#25
Gets Weekends Off
Joined APC: Sep 2010
Position: EWR 777 Captain
Posts: 1,715
The very premise of this thread is flawed. As another poster already hinted there is no reason one can not fund their B Fund in 2020 to the same level expected prior to COVID, and the same will be true for 2021. Not to mention that $20k compounded over 15 years at 6% is only $50k. Your choice of investment advisor is way more important as is whether or not you started saving at a young age. Trying to hang shame and blame on junior pilots for a perceived shortfall in retirement is simply absurd.
10-05-2020, 03:22 PM
#26
Gets Weekends Off
Joined APC: Feb 2018
Position: B-737 Captain
Posts: 649
Originally Posted by Dave Fitzgerald
B fund? ALPA make it up? You are largely responsible for your own funding after the company's contributions. Even with the pay cuts, many pilots will still be hitting the IRS limits so the qualified funds will not be affected at all. However, excess spillage will drop dramatically.
Do remember, this last year we still got a decent payout of profit sharing. I put a big chunk of that into my 401K. Won't be happening this next couple of years.
Do remember, this last year we still got a decent payout of profit sharing. I put a big chunk of that into my 401K. Won't be happening this next couple of years.
Originally Posted by Sunvox
The very premise of this thread is flawed. As another poster already hinted there is no reason one can not fund their B Fund in 2020 to the same level expected prior to COVID, and the same will be true for 2021. Not to mention that $20k compounded over 15 years at 6% is only $50k. Your choice of investment advisor is way more important as is whether or not you started saving at a young age. Trying to hang shame and blame on junior pilots for a perceived shortfall in retirement is simply absurd.
Well now not so fast there..... 2020 won't be affected, but 2021 and 2022 certainly could be. It will be mathematically impossible for a guppy captain to max his combined company / personal 401K contribution in 2021 with 56 hours per month. That's a fact. Doesn't mean that Baseball isn't smoking dope. But it is reality.
281 x 56 x 12 = 189K annual gross x 16% company contribution = 30K. Max personal contribution (over 50 y/o) = 26K. So using 2020 numbers, a guppy captain can contribute a combined 56K. The combined contribution cap is 63K for 2020 (over 50 y/o). It will certainly be expanded in 2021, so nope.... can't max it out like we have been doing easily for the last 5 years. Oh well.
10-05-2020, 03:37 PM
#27
Gets Weekends Off
Joined APC: Feb 2012
Position: 787
Posts: 3,137
Originally Posted by duvie
Grumble,
if flying demand rebounds as quickly as you think it will, PM me and I will happily buy you dinner. Seriously, if we’re above 67.5%, I’ll be back up to 70 hours. I can’t imagine a business environment where airlines keep 70% staffed while we gain 2% flying each month. At this rate we’ll be lucky to be at 60% next summer
if flying demand rebounds as quickly as you think it will, PM me and I will happily buy you dinner. Seriously, if we’re above 67.5%, I’ll be back up to 70 hours. I can’t imagine a business environment where airlines keep 70% staffed while we gain 2% flying each month. At this rate we’ll be lucky to be at 60% next summer
10-05-2020, 03:45 PM
#28
Gets Weekends Off
Joined APC: Feb 2012
Position: 787
Posts: 3,137
Originally Posted by Aquaticus
The bottom third, half, or 3/4 don't owe you anything. Covid decimated your industry and now you want your coworkers to make you "whole" based on the best few years this industry has seen in 25 yrs. The odds are that you are making more with this TA with a better qol than you would if you took the downgrade, bump, or loss of seniority without it. You're pointing fingers without having done a fair or reasonable assessment. If you truly think this was a handout of a TA and every "junior" person needs to pay you back you might want to actually wait until the TA has a material impact on your pay. Up until November your paychecks are down solely due to covid. From the poor questions that are out there that are easily answered by reading the TA I am guessing that most No voters still haven't read it or understood it.
10-05-2020, 04:14 PM
#29
Gets Weekends Off
Joined APC: Mar 2012
Position: 777
Posts: 2,158
Originally Posted by guppie
Well now not so fast there..... 2020 won't be affected, but 2021 and 2022 certainly could be. It will be mathematically impossible for a guppy captain to max his combined company / personal 401K contribution in 2021 with 56 hours per month. That's a fact. Doesn't mean that Baseball isn't smoking dope. But it is reality.
Also, I know it's harsh, but you are responsible for your own retirement. If you have suffered pay cuts like most have, you can still max out IRS limits by contributing 401K yourself. Saying it's not possible is a little disingenuous, and no one but you is responsible for planning your own retirement. Not ALPA, not the company. Granted, some won't be able to max out, but it will still be pretty close.
How much is it worth to you to have a secure retirement? Take the time and do some research and reading.
10-05-2020, 04:42 PM
#30
Gets Weekends Off
Joined APC: Feb 2018
Position: B-737 Captain
Posts: 649
Originally Posted by Dave Fitzgerald
I said, "Many pilots." Doesn't mean all.
Also, I know it's harsh, but you are responsible for your own retirement. If you have suffered pay cuts like most have, you can still max out IRS limits by contributing 401K yourself. Saying it's not possible is a little disingenuous, and no one but you is responsible for planning your own retirement. Not ALPA, not the company. Granted, some won't be able to max out, but it will still be pretty close.
How much is it worth to you to have a secure retirement? Take the time and do some research and reading.
Also, I know it's harsh, but you are responsible for your own retirement. If you have suffered pay cuts like most have, you can still max out IRS limits by contributing 401K yourself. Saying it's not possible is a little disingenuous, and no one but you is responsible for planning your own retirement. Not ALPA, not the company. Granted, some won't be able to max out, but it will still be pretty close.
How much is it worth to you to have a secure retirement? Take the time and do some research and reading.
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