ALPA/401k revisited

[sweptback]

If some is going to set about X amount of money for retirement, then yes it does reduce how much they will put away......Part of that X will now go to Herndon instead of to the 401k.....

You can't be serious. Nobody I know says "I'm only going to spend X on retirement" and then adjusts that based on the bills they have that month.

The whole point of a 401k is that it is a "pay yourself first" setup. Your 401k money comes out before any deductions, taxes, or bills.

A dues increase will not affect this, nor will a tax increase, or any other increase.

If somebody chooses to reduce their 401k contributions over a few dollars extra per month, that's their choice, but not a very smart one.

 

[sweptback]

I cancelled my 401k and am now investing in the private sector instead.

No offense, but that's pretty dumb.

A 401k is investing in the "private sector" unless you only invest in government bonds.

Also, by canceling your 401k you just gave up free money in the company match. That will add up to much, much more over the course of your life than the $5 extra per month you would pay in dues.

You should be investing in both a 401k and an IRA. As much as you can afford!

 

[mtsupilot376]

is ALPA taking a chunk of our performance plus checks too?

 

[JoeMerchant]

You can't be serious. Nobody I know says "I'm only going to spend X on retirement" and then adjusts that based on the bills they have that month.

The whole point of a 401k is that it is a "pay yourself first" setup. Your 401k money comes out before any deductions, taxes, or bills.

A dues increase will not affect this, nor will a tax increase, or any other increase.

If somebody chooses to reduce their 401k contributions over a few dollars extra per month, that's their choice, but not a very smart one.

The money is coming from somewhere.....If they are only contributing what they can afford, then as witholdings (union dues, health insurance, and taxes) increase, they have to withold less....The only one they can realistically reduce is the 401k contribution.....Little bits of money add up to real money....

In addition ALPA hasn't EARNED the right to demand more dues money....In fact a good argument could be made that ALPA's failures have contributed to the budget problem they are facing.....Is the ALPA President shaving any of his 400,000 plus compensation package?

By the way.....What is my "agenda".....and what is your "agenda"....

 

[JoeMerchant]

No offense, but that's pretty dumb.

A 401k is investing in the "private sector" unless you only invest in government bonds.

Also, by canceling your 401k you just gave up free money in the company match. That will add up to much, much more over the course of your life than the $5 extra per month you would pay in dues.

You should be investing in both a 401k and an IRA. As much as you can afford!

Sweptback....I wouldn't cancel the 401k, but you can see how this affects peoples decisions....There are several advantages of the 401k

1. Company match
2. Tax deferred growth
3. Money was taken out before ALPA dues which added to ones bottom line.

We still have the company match, however the other 2 advantages are in danger. ALPA wants to tax that money and there is a high probability that future taxes will be higher than current taxes...We don't need to give people reasons to not prepare for their retirement.....

 

[JoeMerchant]

is ALPA taking a chunk of our performance plus checks too?

YES it is.

 

[mtsupilot376]

See that just doesn't make sense. We bust our asses out on the line to make sure that our numbers are good. This, in turn, ensures that the company is in a good relationship with our one and only client. So what is the incentive now?
So let me get this straight, ALPA in an interest to protect our jobs wants more money from us, but they are going to take it from our retirement and our performance bonuses. This removes our incentives both to invest in the future and to post good numbers on the line.

Way to go ALPA.

 

[DoinTime]

I cancelled my 401k and am now investing in the private sector instead.

You do realize that regardless if you participate in your 401 that you will be paying the same amount of dues, right?

 

[11thHour]

So I poured through the latest ALPA "Airline Pilot" magazine, and didn't see this mentioned at all. So I either just missed it - OR (more likely) - they don't want us to know about it. I'm very angry about this. Rest assured my rep has heard an earful from me!

 

[dojetdriver]

So I poured through the latest ALPA "Airline Pilot" magazine, and didn't see this mentioned at all. So I either just missed it - OR (more likely) - they don't want us to know about it. I'm very angry about this. Rest assured my rep has heard an earful from me!

I'm sure there were plenty of bright/glossy/shiny photos of some ALPA guys sitting around a table somewhere involved in some kind of "conference" or calling themselves some kind of "team" or "taskforce" resolving some issue.

If they wanted to save money, they could start by possibly spending LESS money on the magazine.

Yeah, there is SOME good info in there SOMETIMES, but good grief.