Profit Sharing
 

Haven't heard anything from the company concerning when profit sharing checks will be distributed. Any body have any info?

Supposed to be tomorrow. A few have reported a pending check to be deposited into their account. Heard from the company? No, and I would expect around 2%.

The check deposited into my account was 1.2% of my W2. Didn't have 401k taken from it and haven't seen the pay stub, but backing out taxes, union dues, etc, it looks like the gross payout was very close to that 2%.

about 1/3 of last years..... Hit the checking account today. "Hit" maybe a little strong of a word.... "tapped" my account today?

Was your payment last year profit sharing or a grievance settlement? Haven't figured that one out yet?

Thanks for the info. So far I haven't seen any deposit yet.

Oh yea... another entitlement. Another lawsuit... geezzzz

Everyone better count all the sprinkles on the ice cream they hand out tomorrow cuz if I get too many sprinkles... (another lawsuit)

Whaaaaaaaaa mommy.....

It was actually a valid question. I wasn't referring to only the sprinkles, but also the cupcake and icing that held the sprinkles. Thankfully, profit sharing was in your contract this time?

There are very few people who know the complete evolution of the TPA extension talks, Profit Sharing, and the CAL Widebody grievance process and they are not posting on here. Anything else written on a forum is incomplete, speculative, and uninformed opinion.

Hopefully, some light will be shed on the situation in the near future.

I don't think I would be holding my breath for that day.

Considering all the various parties involved, are you insinuating a back room deal to bury the truth?

So, 6blade, you are happy every time the company violates the contract? We should let it slide because it might impact the quarterly profit or hurt Jeff's bonus?

I paid for every sprinkle in my contract, on my ice cream,(I like mint chocolate chip BTW,) and so did you. Insist on enforcing it, or no sprinkles for you.

Looks like I got something. Looks to high to be a dry cleaning reimbursement.

Looks like some one has a burr up some where? Whats the matter special? Still crying in your skirt?

It's their culture......

Was never about the contract.....It was someone got something and they didn't... Plain and simple... Enough with the contract violation crap.....

I guess your culture is to cut back room deals but hey we already knew that.

No burr. I'm just hoping we can put an end to this culture of back room deals and interpreting contracts to benefit one group at the expense of the other.

If the best you have in a discussion is to hurl insults in order to bolster your arguement, you are not doing yourself any favors. While we might not always agree, I'm optimistic that most Continental pilots are not of your mentality.

I won't speak for 6, but I'm not happy when the company violates the contract, so when the company violated Contract '02 we used the grievance process under Contract '02 to get it resolved. One of the options available in the grievance process was to settle it before an arbitrator decided. That's what happened. We had rights under our contract that we utilized. I guess we should be denied the right to enforce our contract.

The amount of money to settle it may be questionable to a lot of people and that's a different matter. I personally wouldn't have an issue if the shoe was on the other foot. Seriously, I wouldn't.

So anyway, I ask for 100% of the check to be put into my 401k. WTH did they take fed, socsec, and med out? Does asking for 100% be put in the 401k before tax not actually mean that?

Tax free was the purpose for putting it in the 401k. Payroll strikes again.

You are just still upset about the December vote

Just out of curiosity, was the 401k in which you were deferring to, was it a "ROTH 401k"? If so, 'front side' taxes make sense in that case. Outside of that, I'd have not a clue as to why they pulled the taxes (Fed) on the front side when you elected 100% deferment to the "vanilla/traditional" 401k.

Look into it and let me know what you find out.

Nope. Pure 401K. When you elect 100% into my 401k, you would think that it would mean 100%, less union dues. Called crew pay and they said talk to payroll. Here I was thinking they were all in the same room and department. I just found somewhat or part of an answer. Still doesn't explain the federal withholding though.



I want to contribute 100% of my 2012 Profit Sharing, on a Before-Tax basis, to my company-sponsored retirement savings account.

EXPLINATION

Before-Tax Contributions
Generally, you may contribute from 1% up to 100% of your Profit Sharing check to your company-sponsored retirement savings account on a before-tax basis. For U.S. retirement savings accounts, you may make contributions up to the elective deferral limit – for 2013, $17,500 or $23,000 for someone age 50 or older. Employee contributions from profit sharing are not eligible for subsidiary United matching contributions. Your before-tax contributions are deducted before federal and certain state income withholding taxes are computed (not all states are included). However, these contributions will be subject to Social Security (6.2%), Medicare (1.45%), and applicable state and local tax withholdings.