New hires at all three contract companies are at 50 hour guarentee. WASINC pilots are paid 14.8% less salary. WASINC then places the 14.8% in a DAP retirement plan that is administered by Merrill Lynch. IASCO pays all the money upfront and leaves retirement planning up to the individual pilot. The WASINC method has some positive tax implications as that 14.8% is tax deferred. However you are not vested in the full amount until you complete 3 years from date of hire. The IASCO method can be a positive for pilots that are planning for retirement through Real Estate investment as it gives you more borrowing ability. WASINC also offers a 401K style retirement account that you can contribute up to the IRS maximum each year.
Most importantly if you are trying to decide which company to go with is that WASINC is interviewing in March and IASCO not until late spring, early summer. The next class is slated to be in May and will be comprised of the pilots who interview in March.
Most importantly if you are trying to decide which company to go with is that WASINC is interviewing in March and IASCO not until late spring, early summer. The next class is slated to be in May and will be comprised of the pilots who interview in March.