Delta pilots turn down 27% raise
08-24-2016, 07:50 AM
#21
Gets Weekends Off
Joined APC: May 2015
Position: 777 CA
Posts: 1,033
Originally Posted by CHAIRMAN
Other issue with the Veba is when you die it does not pass to your estate just back into the fund for all the other pilots. Also it takes 2 pay cycles for the 401k contribution to take effect when changed so waiting till you hit the max and then selecting zero will put at least $1500 or more into the Veba
But yes, there is a lag on changes to your 401k deductions. We are still talking about UALs joke of an IT department.
08-24-2016, 07:59 AM
#22
Gets Weekends Off
Joined APC: Apr 2006
Position: 737 CA
Posts: 2,750
Originally Posted by baseball
So, If I contribute to my VEBA, and I die, my money just goes away to people that aren't in my family? Shouldn't that be against the law?
I was told that all moneys over the IRS limits annually will go into the VEBA. You mean you can direct the money to go elsewhere???
Does my estate have the standing to sue for those moneys? My surviving spouse can't use the VEBA money?
hello ALPA.....
Maybe we should kill the VEBA, and just give us the cash to invest on our own.........
I was told that all moneys over the IRS limits annually will go into the VEBA. You mean you can direct the money to go elsewhere???
Does my estate have the standing to sue for those moneys? My surviving spouse can't use the VEBA money?
hello ALPA.....
Maybe we should kill the VEBA, and just give us the cash to invest on our own.........
Maybe get your facts from a credible source....not the APC forum. Upon your death, your RHA monies ARE available to your surviving eligible dependents. It also goes in tax free, grows tax free, and comes out tax free. The trifecta baby.
08-24-2016, 08:17 AM
#25
Gets Weekends Off
Joined APC: May 2015
Position: 777 CA
Posts: 1,033
Originally Posted by catIIIc
Your wife gets your VEBA money when you die but if she goes then the money I think is redistributed.
Section 7. How Your Other Beneficiaries Can Use Your RHA
Your Other Beneficiaries
If your Spouse dies or remarries, or if you do not have a surviving Spouse, any remaining balance in your RHA will be divided into separate sub-accounts for your other Beneficiaries. These Beneficiaries will be each of your surviving Dependent children who were designated by you in accordance with the Plan’s Beneficiary designation process. If you have no designated Beneficiary on file on the date of your death, each of your surviving children who were Dependents immediately prior to your death will become a Beneficiary. There are no other default Beneficiaries under the Plan.
08-24-2016, 08:38 AM
#26
Gets Weekends Off
Joined APC: Nov 2010
Posts: 1,785
Originally Posted by Terrain Inop
Unless you know for a fact that there is someone that you're willing to pay for college for, 529 plans are crap. They cannot be used as a tax shelter for retirement. There are penalties built into the plans if you try that.
Use the funds to pay for community college, vocational school or other eligible post-secondary education.
Change the beneficiary to a sibling or other qualifying family member who will attend college.
Use the money to pay for your own continuing education.
Save the funds for a future grandchild.
Take a non-qualified withdrawal and pay income tax and a 10% penalty on the earnings portion of the withdrawal. Your contributions were made with after tax money and therefore will never be taxed or penalized.
08-24-2016, 06:40 PM
#27
Don't say Guppy
Joined APC: Dec 2010
Position: Guppy driver
Posts: 1,926
I guess my beef with the VEBA or RHA or whatever the official name is, is that it is not optional. We get 1% taken out every month, and more if we exceed the B plan limits.
Some probably view the plan as a benefit. I do not. We should be able to choose.
Some probably view the plan as a benefit. I do not. We should be able to choose.
08-25-2016, 05:09 AM
#28
Gets Weekends Off
Joined APC: Jul 2010
Posts: 153
So not incorrect, if you die, your wife dies, and you didn't have children or dependents, does the money go to the pilots estate or is donated back to the plan. I personally lower my contributions as to not go over the 415 53k limit. And take the money from my paycheck and invest other wise.
08-25-2016, 11:18 AM
#29
Gets Weekends Off
Joined APC: Apr 2006
Position: 737 CA
Posts: 2,750
Originally Posted by CHAIRMAN
So not incorrect, if you die, your wife dies, and you didn't have children or dependents, does the money go to the pilots estate or is donated back to the plan. I personally lower my contributions as to not go over the 415 53k limit. And take the money from my paycheck and invest other wise.
08-28-2016, 06:21 AM
#30
Line Holder
Joined APC: Feb 2009
Position: 767 Captain
Posts: 85
They still have 16 months to get a deal so that we can snap up with them. That's actually a long time in the current construct of their negotiations. Delta management has no incentive to wait until after 1/1/18 to sign a deal since that would give UAL a competitive advantage via lower pilot pay. I believe they will get a deal done by spring at the latest.
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