Southwest Pilots Profit Sharing?

[Floatplane]

I was just wondering how much on a percentage basis and/or in dollars you have received for the past five years. Please break it down by a yearly amount.

 

[Slug]

2005 7.50%
2004 5.00%
2003 8.00%
2002 5.10%
2001 11.70%
2000 16.20%
1999 14.10%
1998 13.70%

 

[roughneck]

It is a formula based on performance. I have heard that we will see 10% for sure this year and possibly as high as 13% depending on 4th QTR results.

 

[SkiFishFly]

Are the percentages, a percent of your annual pay for that year? How does it work exactly?

 

[roughneck]

yes, percentage of actual earnings for the year. % are calculated in the spring and announced. In mid September the profitsharring accounts are funded.

Example: Feb15th we will find out what the percentage is and on Sept 15th 2007 we will get X% of 2006 earnings deposited into the profitsharring account./

 

[FNG_that's me]

Two questions:

1) Is that profit-sharing account a 'retirement' account or do you have access to it real-time?

2) Do you get credit for trips you miss because of military duties? I'm pretty sure that you should by the letter of the law. Your profit-sharing should be calculated as if you had flow on those days.

Thanks.

 

[737tanker]

Two questions:

1) Is that profit-sharing account a 'retirement' account or do you have access to it real-time?

2) Do you get credit for trips you miss because of military duties? I'm pretty sure that you should by the letter of the law. Your profit-sharing should be calculated as if you had flow on those days.

Thanks.

1) You get your profit sharing account only when you leave SWA.

2) You get credit towards profit sharing for days that you are on military leave. It doesn't matter if you dropped a pairing or you were scheduled off the credit is the same.

 

[737ski]

There is a vesting period of 5 years for 100%. If, you leave before that (why, I don't know?!!) & you get a golden goose egg.

Just make sure you are on property before 1 Jan of year X & you'll get some jack (about Sept of the following year), WHEN the company turns a profit at the end of the year. But you need to do your part, my friend, so turn out the lights, APU, etc., when you're done, ...

 

[roughneck]

2) You get credit towards profit sharing for days that you are on military leave. It doesn't matter if you dropped a pairing or you were scheduled off the credit is the same.

I don't believe this is accurate. You get paid profit sharing as a percentage of your actual pay for the year. If you drop a trip for mil leave, you don't get paid for it. Therefore you don't get profit sharing for it. Or at least you shouldn't!

 

[FNG_that's me]

Or at least you shouldn't!

Glad to see where you stand on supporting our guard and reserves.

Merry Christmas.