2023 Profit sharing ?
12-19-2023 | 01:27 PM
#11
Line Holder
Joined: Jul 2015
Posts: 1,588
Likes: 4
From: MD-88 FO
If your PS plan is the carbon copy of Delta's everyone says it is, then, no, prior year's PS isn't included. If it isn't, then you scored a big win with that.
And the IRS view PS payouts as a bonus, not normal income which is why taxes are withheld and a hire than normal rate.
And the IRS view PS payouts as a bonus, not normal income which is why taxes are withheld and a hire than normal rate.
12-19-2023 | 01:37 PM
#12
Gets Weekends Off
Joined: May 2015
Posts: 441
Likes: 0
From: everywhere but nowhere
12-19-2023 | 03:29 PM
#13
Gets Weekends Off
Joined: Sep 2022
Posts: 855
Likes: 0
The company has a formula to determine the total amount which will be paid to all pilots.
Then they have a formula to divide the pot. Including PS and Retro disproportionately inflates the earning of senior pilots. It doesn't really get you "more" profit sharing.
Then they have a formula to divide the pot. Including PS and Retro disproportionately inflates the earning of senior pilots. It doesn't really get you "more" profit sharing.
12-19-2023 | 03:38 PM
#14
Gets Weekends Off
Joined: Apr 2018
Posts: 4,096
Likes: 459
Interesting. Delta specifically takes previous year's PS payment out of the calculation when divvying it up. Yes I know this doesn't affect the total PS paid to pilots, but it affects pilots on an individual level.
12-19-2023 | 04:16 PM
#15
Gets Weekends Off
Joined: Mar 2018
Posts: 3,633
Likes: 209
It isn’t calculated in ours (United) either. Profit sharing payments aren’t eligible earnings.
12-19-2023 | 06:56 PM
#17
Line Holder
Joined: Jul 2021
Posts: 582
Likes: 27
The United pilots divide 400m with regular W2, or the United pilots divide 400m with spiked W2.
12-19-2023 | 08:00 PM
#18
Gets Weekends Off
Joined: Mar 2018
Posts: 3,633
Likes: 209
It's a pretty insignificant difference, though, since it is only the 2023 portion that matters.
12-20-2023 | 04:13 AM
#19
Line Holder
Joined: Jul 2021
Posts: 582
Likes: 27
Since the spiked amount varies, it'll obviosuly benefit those who had larger retro checks more than the ones who had the smallest. They'll get an even bigger share proportionally.
It's a pretty insignificant difference, though, since it is only the 2023 portion that matters.
It's a pretty insignificant difference, though, since it is only the 2023 portion that matters.
Seems like it would be hard for anyone to detect that an equal % raise paid retroactively increased collective W2 variance.
Last edited by OpieTaylor; 12-20-2023 at 04:31 AM.
12-20-2023 | 05:41 AM
#20
Gets Weekends Off
Joined: Mar 2018
Posts: 3,633
Likes: 209
Yeah, actually, when I started writing that, I had it in my head that the whole retro check was in it as opposed to the 2023 portion alone. It alone won't make any difference at all.
Thread
Thread Starter
Forum
Replies
Last Post
