New US Airways pilots want share of profit

[beechlive]

easy now

Can't we all just get along!

 

[Guppiedriver]

Ok, was wrong on the pay parity thing, It was retirement parity. In the transition agreement it states you guys got the bump up to 10% contribution into 401k or whatever. In addition you were included in the profit sharing plan which the east side negotiated as partial pay back for the pay cuts and such they gave up in 2nd BK.

We did not get a bump. It was a case of robbing Peter to pay Paul. Our 3% 401K company match was added to the 7% defined benefit that we negotiated in Contract 2004.

 

[Tomct]

All I can say is .....good luck! It may get UGLY before the "sunny skies" return!

 

[Mach 80]

With the recent stock performance it's too bad you guys didn't get a good stock option plan.

 

[PHXFLYR]

There was no "bump" to 10 percent matching on 401k. They automatically put in 7 percent and they matched 3 percent. Now they just put in 10 percent same thing. There is no holding of breath. The Furloughed US Air East pilots will be stapled. Its already been said! Deal with it. I say we staple all of the east pilots right on the bottom!!!!!

Oh,really? The chances of the furloughed guys getting stapled is about as likely as the "east side boys" getting DOH. Why don't we all sit down, shut up and see what the arbitrator comes up with next year. Shheeesh ,what a bunch.....


PHXFLYR

 

[PHXFLYR]

With the recent stock performance it's too bad you guys didn't get a good stock option plan.

That would have been nice,wouldn't it?

PHXFLYR

 

[Crzipilot]

Interesting on the 10% contribution. So basically they already gave you 7%, and then matched 3% of what you contributed???

Now as it stands they automatically put in 10%. Where as most are prob. already contributing, if you weren't your now getting a min of 10%.
without doing the math, your getting a full 10% now.....not doing anything. And the 3% match, was defined as how?? They matched 3% of your contribution, so if you contributed 10% of your pay, they matched 3% of that 10%?

Do they still offer any match to your 401k??? Or did they take that away. I.E. you now get a 10% in your DB....and they still match 3% of whatever you contribute to the 401k?


Just curious, browsing through the AWA contract i didn't see any mention of the 3% match, Just the 7%, is the 3% in there somewhere? I only looked under sect. 28....

 

[Crzipilot]

Oh yeah, the east guys got some stock...think there is another distribution that just came out...think the strike price was 32.00 or something. Also if you have access look at our LOA 93 I think. It has the formula of the profit sharing which, with the transition agreement the West side pilots are included into... but again...what profit?

 

[5150]

There was no "bump" to 10 percent matching on 401k. They automatically put in 7 percent and they matched 3 percent. Now they just put in 10 percent same thing. There is no holding of breath. The Furloughed US Air East pilots will be stapled. Its already been said! Deal with it. I say we staple all of the east pilots right on the bottom!!!!!

Grow up junior ! The arbitrator will decide where the furloughed pilots go.

 

[Guppiedriver]

Interesting on the 10% contribution. So basically they already gave you 7%, and then matched 3% of what you contributed???

Now as it stands they automatically put in 10%. Where as most are prob. already contributing, if you weren't your now getting a min of 10%.
without doing the math, your getting a full 10% now.....not doing anything. And the 3% match, was defined as how?? They matched 3% of your contribution, so if you contributed 10% of your pay, they matched 3% of that 10%?

Do they still offer any match to your 401k??? Or did they take that away. I.E. you now get a 10% in your DB....and they still match 3% of whatever you contribute to the 401k?


Just curious, browsing through the AWA contract i didn't see any mention of the 3% match, Just the 7%, is the 3% in there somewhere? I only looked under sect. 28....

The 3% match is from Contact '95 and I don't know where to find it.

The 3% match was taken away from the 401K and added to the DB plan. It used to be 7% + 3% = 10%, now it's 10% + 0% = 10%.