Jetblue 401(k) Match

[CesnaCaptn]

I searched, but could not find on here what jetblue's 401(k) match is. What is it?

 

[WNFO]

Up to 3%

 

[CesnaCaptn]

Is that the only company contribution to your 401(k) or your retirement?

 

[WNFO]

Newhires get 6,000 shares of stock and of course there is profit sharing. I am also the kind of person who doesn't rely on my employer for retirement. I would obviously like more but hey.

 

[FNG320]

Is that the only company contribution to your 401(k) or your retirement?

Also all profit sharing is put in your 401K (up to the legal limits). D and D forced savings for retirement.

Just my opinion.....

FNG

 

[wolfpackpilot]

Up to 3%

3% what? 1:1, 1/2:1, is it matched to your 1st 5, 10, 15%?

And what is the profit share per year? Is it taxable?

 

[Capn Mike]

Newhires get 6,000 shares of stock and of course there is profit sharing. I am also the kind of person who doesn't rely on my employer for retirement. I would obviously like more but hey.

It is 6,000 stock options which is different than being given shares. The strike price is determined by the stock price on the day the board of directors meet after you have been hired.

Mike

 

[Capn Mike]

3% what? 1:1, 1/2:1, is it matched to your 1st 5, 10, 15%?

And what is the profit share per year? Is it taxable?

Company matches your first 3% for 401(k).

Profit sharing comes from the top 15% of the company pre tax profit. A percentage of this total is multiplied against your yearly income to determine how much profit sharing you receive.

If the company makes money you enjoy the fruits of your labor. If the company loses money, oh well.

2002 = 15.2%
2003 = Can't recall
2004 = 5.3%
2005 = ???

Mike

 

[wolfpackpilot]

Company matches your first 3%.

Is that a dollar for dollar match?

 

[miles otoole]

Is that a dollar for dollar match?

What don't you understand about the word MATCH?

http://contracts.corporate.findlaw.com/agreements/jetblue/401k.2001.12.31.html