401(k) programs at airlines - question

[satpak77]

Can someone post the various 401(k) plan options (small cap, bonds, no choice, etc) that exist at the major airlines?

Also how much your company matches?

etc

thanks guys

 

[pilotyip]

USA Jet matches 4% on the first 5% contributed to a 401 K plan. 107 different mutual fund plans to pick. Best one I have been in so far.

 

[Purpledog]

FedEx uses Vanguard. They match 500 bucks, thats not a typo. Although we still have an A & B plan so I won't complain, too much.

 

[Chest Rockwell]

Southwest: 11 different funds, a little of everything.
Company match of employe contribution (15% max.) dollar for dollar to 7.3% of pay to the federal limit ($14,000 for 2005). There is also a 401(a)(17) plan to absorb additional company contibutions for those who exercise stock options.

Profitsharing is awarded as a percentage of gross pay and has 5 or six investment options. It has averaged around 10% the last ten years but will be only aroun 4-5% this year.

Example: gross pay = $100,000 with 401(k) at 15%

Pilot contibutes $14,000 (federal limit) company contributes $7,300 (100,000 x 7.3%)
Profitsharing at 4.5% = $4,500.

 

[DashTrash400]

QX matches 100% of employee contributions up to 10% income. They use Vanguard, although half the employer match is in Alaska Air Group stock.

 

[satpak77]

ok sounds good guys, appeciate it

do your companies offer a "401k counselor" or similar animal that recommends funds or tells you which one to be in, or is it all up to you (no guidance, just "good luck")

 

[Big Beer Belly]

UPS (because of the IPA) offers a "brokerage link" option. You can basically invest in ANYTHING that is legal for a retirement account (some "options" excluded by law). This is BY FAR the cadillac of investment plans. You should never be limited in your investment choices, IMO.

We have the standard 401k (NO company match) and an 11% B plan that is eligible to be invested via the above.

BBB