JetBlue profit sharing

[1st Overnite]

I read on Airline Pilot Central that you guys get 5% profit sharing regardless of if the company makes a profit or not. How does that work? It seems more like a yearly salary bonus if you get it even if they are in the red. If the company makes a profit, do you get more? Just curious.

 

[Caveman]

Guaranteed 5% of gross W-2 regardless of profitability. Yes, if the company does well we get more.

 

[Rebel]

We have two separate things.
One is a 5% 401K match. The other is profit sharing. We are guaranteed 5% profit sharing in our 401K (in case the company makes less profit than that). If we do better, we get the difference in a payroll check at the end of the year.

Profit sharing Ex: 8% profit sharing would be 5% in our 401K, plus 3% in a regular payroll check (in addition to our 5% 401K match).

The bottom line is we'll get 15% total into our 401K, assuming we put in 5%.