New Skywest Jet Announcement

[indianboy7]

Get out of the aviation industry and a 100% match for the first 6% is not uncommon.

Pretty much all regionals have a pitiful 401(k) matching program, which is a shame because of the erosion of retirement benefits industry-wide.

Mostly true, but the vesting schedule is usually not so generous......you may get that 100% up to 6 percent, but if you leave within 5 years, it's gone......we may only get a match up to 2%, but at least it's 100% vested right off the bat....

 

[Bluto]

How many pilots leave within 5 years?

 

[indianboy7]

i know of quite a few that have only spent 3 or 4 years here.....not to say theres a lot of them, but there are some. All that match money would evaporate at most any other company...it may not be much, but they get to keep it....

 

[Morning Wood]

Mostly true, but the vesting schedule is usually not so generous......you may get that 100% up to 6 percent, but if you leave within 5 years, it's gone......we may only get a match up to 2%, but at least it's 100% vested right off the bat....

That's not the company's rule, that's the government. You can't
take the money until you are 59 without penalty or paying yourself
back.

 

[Morning Wood]

Get out of the aviation industry and a 100% match for the first 6% is not uncommon.

Pretty much all regionals have a pitiful 401(k) matching program, which is a shame because of the erosion of retirement benefits industry-wide.

Since we ARE in the aviation industry, any comparison is apples to oranges.
But since you bring it up, most other industries have done away with
pensions in favor of 401K.

 

[sweptback]

Since we ARE in the aviation industry, any comparison is apples to oranges.
But since you bring it up, most other industries have done away with
pensions in favor of 401K.

Which is all the more reason we need a higher 401(k) match. I don't see what the argument is about.

 

[ILOVEBEER]

This thread is lame...

 

[miles otoole]

Get out of the aviation industry and a 100% match for the first 6% is not uncommon.

Pretty much all regionals have a pitiful 401(k) matching program, which is a shame because of the erosion of retirement benefits industry-wide.

Standard in MOST companies in the U.S. is 50% of 6% according to the following:

http://www.buyerzone.com/benefits/401k/printable_bg.html

"The standard match for companies is 50% up to 6%. That means for every dollar your employee contributes up to 6% of their pay, you will contribute fifty cents, increasing your employees returns by 50%.
Most companies match between twenty-five cents and fifty cents on the dollar."

Not sure where you get you info that 100% match is not uncommon. I have never heard of 100% match from surveying 10-12 buddies in the non-av world. I doubt you could name a single universally recognized company with 100% match.

 

[Crossky]

Standard in MOST companies in the U.S. is 50% of 6% according to the following:

"The standard match for companies is 50% up to 6%. That means for every dollar your employee contributes up to 6% of their pay, you will contribute fifty cents, increasing your employees returns by 50%.
Most companies match between twenty-five cents and fifty cents on the dollar."

Air Wis current 401K match is 50% up to 4% of salary (pilot contributes 8%, company kicks in 4%). That's in addition to the contract defined co. contribution of 3%. Not too shabby I would say.

Any Vegas odds on when SKW's 900's Delta scope restriction will be lifted to 88 seats (or whatever) single class? I'm betting 3-1 by 3rd Qtr Twenty O-Seven (2007). We could call this 'The Crying Game'. {c;

 

[Rogue5]

How many pilots leave within 5 years?

Well I'm just coming up on four, I have a thousand hours PIC in the CRJ, I've had a good time here, but:

I'm keeping my fingers crossed...