ASA TA summary....

[JoeMerchant]

Well it's out.... what does everyone think?

The 401k summary seems to be worded wrong..... the way it is worded, it would be far less company match then we currently get... I would only get about 900 dollars match based on the summary language.... and I currently get about 4000 dollars on the match.....

 

[WWEfan]

Well it's out.... what does everyone think?

The 401k summary seems to be worded wrong..... the way it is worded, it would be far less company match then we currently get... I would only get about 900 dollars match based on the summary language.... and I currently get about 4000 dollars on the match.....

JP MORGAN SITE:

• ASA Company Match Schedule
  • 1 year of service = 20% of the first 6% you contribute to the plan
  • 2 years of service = 30% of the first 6% you contribute to the plan
  • 3 years of service = 40% of the first 6% you contribute to the plan
  • 4, 5 or 6 years of service = 50% of the first 6% you contribute to the plan
  • 7 years of service = 75% of the first 6% you contribute to the plan

TA SUMMARY:

• 1 year of service 20% of the first 6% a pilot contributes to the plan

• 2 years of service 30% of the first 6% a pilot contributes to the plan

• 3 years of service 40% of the first 6% a pilot contributes to the plan

• 4, 5 or 6 years of service 50% of the first 6% a pilot contributes to the plan

• 7 years of service 75% of the first 6% a pilot contributes to the plan

• 10 or more years of service 75% of the first 8% a pilot contributes to the plan

Added last step in table above.

• Company matching contributions deposited monthly.

New-hire automatic enrollment, must opt out if desires not to participate.
Non-discrimination test (highly compensated), pilots will be tested separately.
Joint Retirement Committee to discuss issues that may arise.


The TA appears to be the same as the JP Morgan site and the way it is laid out there. Looks like year 10 and up gets a bump in contributions and everyone gets monthly company match. Instead of the annual company deposit.

 

[GearUpLightsIn]

Where is it out? I didn't get an email.

 

[ke4akj1976]

Its on the ASA MEC website. You can access it through Alpa.org

 

[GearUpLightsIn]

yeah I just found it. thanks

 

[WWEfan]

Where is it out? I didn't get an email.

It's on the MEC web site , I think every email is posted on there first and then emailed, somebody said sometimes their server is slow in sending emails so usually all the updates are seen on the site before everyone gets the email.

 

[wickedpilot]

We all had a secret meeting with out you!

 

[JoeMerchant]

JP MORGAN SITE:

• ASA Company Match Schedule
  • 1 year of service = 20% of the first 6% you contribute to the plan
  • 2 years of service = 30% of the first 6% you contribute to the plan
  • 3 years of service = 40% of the first 6% you contribute to the plan
  • 4, 5 or 6 years of service = 50% of the first 6% you contribute to the plan
  • 7 years of service = 75% of the first 6% you contribute to the plan

TA SUMMARY:

• 1 year of service 20% of the first 6% a pilot contributes to the plan

• 2 years of service 30% of the first 6% a pilot contributes to the plan

• 3 years of service 40% of the first 6% a pilot contributes to the plan

• 4, 5 or 6 years of service 50% of the first 6% a pilot contributes to the plan

• 7 years of service 75% of the first 6% a pilot contributes to the plan

• 10 or more years of service 75% of the first 8% a pilot contributes to the plan

Added last step in table above.

• Company matching contributions deposited monthly.

New-hire automatic enrollment, must opt out if desires not to participate.
Non-discrimination test (highly compensated), pilots will be tested separately.
Joint Retirement Committee to discuss issues that may arise.


The TA appears to be the same as the JP Morgan site and the way it is laid out there. Looks like year 10 and up gets a bump in contributions and everyone gets monthly company match. Instead of the annual company deposit.

Well that isn't how it is worded in the current contract, and that isn't how it is currentyly applied....

I contribute 15500 to the plan..... 8% of that is $1240. 75% of that is only $930.... That can't be right.... We get far more than that currently.... We get 75% of 6% of what we make, which is 4.5% of what we make.... which is about $4000 for me... There is no way we went from $4000 contribution to $930 contribution.....

 

[No Delay]

I think you should call and discuss it with your MEC. Call their office. The will talk to you about it.


Just kidding....

 

[WWEfan]

I'm just sayin thats how its worded on the jp morgan site, I get and agree with your math. I doubt we went backwards.

 

[SiuDude]

Underblock premium pay is gone.

 

[GearUpLightsIn]

Displacements​

o​

A pilot not holding a TMT line that is displaced by a management/supervisory pilot or
an instructor pilot will be released from all duty with pay.

I can see the company telling me I don't get paid for a trip when it is taken for training, because MY SEAT was taken by the new hire FO not by the instructor pilot whois sitting in the other seat. That might seem dumb, but I think anyone working here knows it is very possible at this company.​

 

[sweptback]

Well that isn't how it is worded in the current contract, and that isn't how it is currentyly applied....

I contribute 15500 to the plan..... 8% of that is $1240. 75% of that is only $930.... That can't be right.... We get far more than that currently.... We get 75% of 6% of what we make, which is 4.5% of what we make.... which is about $4000 for me... There is no way we went from $4000 contribution to $930 contribution.....

It's the first 8% of your salary, not what you contribute.

 

[49W]

At first glance it does not seem that great of an improvement for reserve pilots. Only 20% of reserve lines will be long call. Short call lines will have up to 6 days of ready reserve. No more premium is a pretty big pay cut for reserve pilots. Maybe I'm wrong, though.

 

[wickedpilot]

International override of $3 per day...are you ready for this... EXCLUDING Canada and Mexico.

 

[WWEfan]

More off the JP MORGAN site"
Atlantic Southeast Airlines, Inc. may match your contributions on a discretionary basis for contributions you make up to 6% of your compensation

It appears maybe the summary doesnt have the full language and they have closed the loop hole that now makes the cp match madatory for years 1-6 as opposed to discretionary.

 

[GeekMaster]

Well that isn't how it is worded in the current contract, and that isn't how it is currentyly applied....

I contribute 15500 to the plan..... 8% of that is $1240. 75% of that is only $930.... That can't be right.... We get far more than that currently.... We get 75% of 6% of what we make, which is 4.5% of what we make.... which is about $4000 for me... There is no way we went from $4000 contribution to $930 contribution.....

I think I see the point of confusion here. It means the firs x% of the pilots TOTAL income that he/she contributes to the fund. Here's an example:

Pilot's total income 50,000 dollars. (easy math) Pilot's elected contribution: 20% (the max I think) which is 10,000. Company match is 75% of first 6%. (of pilot's annual income) 6% of 50,000 is 3000. 75% of that is 2250 company match.

Pilot's total income 80,000. (harder math) Pilot's elected contribution: 20% = 16,000. Company match is 75% of the first 8%. (over 10 years) 8%=6400. 75% of that is 4800. Company match for this employee is 4800.

 

[JoeMerchant]

It's the first 8% of your salary, not what you contribute.

That's what I thought, just doesn't say that....

 

[JoeMerchant]

I think I see the point of confusion here. It means the firs x% of the pilots TOTAL income that he/she contributes to the fund. Here's an example:

Pilot's total income 50,000 dollars. (easy math) Pilot's elected contribution: 20% (the max I think) which is 10,000. Company match is 75% of first 6%. (of pilot's annual income) 6% of 50,000 is 3000. 75% of that is 2250 company match.

Pilot's total income 80,000. (harder math) Pilot's elected contribution: 20% = 16,000. Company match is 75% of the first 8%. (over 10 years) 8%=6400. 75% of that is 4800. Company match for this employee is 4800.

I agree, but it isn't worded that way....

 

[JoeMerchant]

I think you should call and discuss it with your MEC. Call their office. The will talk to you about it.


Just kidding....

I will..... but I think it is just a typo....