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11-20-2023 | 07:56 AM

hopp

Thread Starter

Ignoring; John Burke.

Joined: Jul 2022

Posts: 249

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From: 777 retired

Signing bonus question

I'm retired and not current on anything at the airline. I did get my share of the signing bonus for the months I worked prior to retiring.

Question; was the signing bonus subject to additional contribution to the B C fund? If so, anyone have an idea how that was handled for retirees?

11-20-2023 | 08:27 AM

PK387

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Joined: Apr 2016

Posts: 378

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Quote:

Originally Posted by hopp

Did you retire in 2023? There's a PRAP contribution associated with 2023 earnings, but not for anything before that.

11-20-2023 | 10:19 AM

abj123

New Hire

Joined: Oct 2023

Posts: 7

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Quote:

Originally Posted by hopp

The first check was not pensionable nor eligible for profit sharing.

The check coming on 11/30, covering 2023, will come with the additional 16% retirment contribution. The dollars paid on 11/30's check will also count for 2023's profit sharing calculation (Payable 3/1/24)

11-20-2023 | 11:58 AM

Pilot4000

Banned

Joined: Oct 2021

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My buddy wants to know how profit sharing is calculated. Is it 10%/20% of 2023 regular pay?

11-20-2023 | 12:27 PM

ThumbsUp

Gets Weekends Off

Joined: Mar 2018

Posts: 3,631

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Quote:

Originally Posted by Pilot4000

My buddy wants to know how profit sharing is calculated. Is it 10%/20% of 2023 regular pay?

The formula for the profit sharing pool is pretty "straightforward" and is what is in the UPA. What you get is based you're fractional amount of the your earnings in relation to the entire pot of the pilot earnings pool. For example, if there was $4B in the pilot labor earnings pool, and you earned $400k, you would receive what is 0.01% of the profit sharing pool.

I put straightforward in quotes because it's not exactly clear how the pilot's group's profit sharing will blend in with the rest of the labor groups. Under the previous CBA, we all had the same basic formula for the pool, with different percentages allocated to each workgroup as negotiated by their individual CBAs. Now ours is an entirely different formula than the rest of them. I haven't seen that spelled out by ALPA.

Last edited by ThumbsUp; 11-20-2023 at 12:50 PM.

11-20-2023 | 12:30 PM

PK387

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Joined: Apr 2016

Posts: 378

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Quote:

Originally Posted by Pilot4000

My buddy wants to know how profit sharing is calculated. Is it 10%/20% of 2023 regular pay?

3-H-2 For profit-sharing based on the years 2023 and beyond (paid in 2024 and beyond), the Company profit sharing plan shall be funded with ten percent (10%) of pre-tax profit up to $2.5 billion of pre-tax profit, plus twenty percent (20%) of pre-tax profit in excess of $2.5 billion of pretax profit.

Percentage to be multipled times regular earnings still TBD based on full year's profit numbers.