NJA/Citation Shares Upgrade Pay Question

[fischman]

What he said...

 

[Trash8Mofo]

How do you figure that? They'll match 50% of your contribution, up to the 15% of your income, and up to the IRS maximum. 50% of the 2008 IRS maximum of $15,500 is $7,750, not $5,333.

Perhaps I understand it incorrectly, but my calculation is as follows: For year 2008, the max contribution is $15,500. The company match half of what the pilot puts in. So divides $15,500 into three shares, pilot puts in 2, company matches 1. $15,500/3=$5166.67 2009 max contribution is 16,000. So company max match is $5,333.33.

Again, still a very good and industry leading CBA in many aspects. Well done, and thanks for explaining the beef with IBT.

 

[CA1900]

Perhaps I understand it incorrectly, but my calculation is as follows: For year 2008, the max contribution is $15,500. The company match half of what the pilot puts in. So divides $15,500 into three shares, pilot puts in 2, company matches 1. $15,500/3=$5166.67 2009 max contribution is 16,000. So company max match is $5,333.33.

Ah, I see where you're going with it. The $15,500 is the maximum employee contribution, not the max total contribution. If an employee puts the max in -- $15,500 -- the company match would bring the total contribution to $23,250 for that year.

I'd like to see a higher match next time, but it's still a great deal now. Certainly better than the 0% match my previous employer is now offering.

 

[Flex-ible]

Was wondering about first year captain pay at NetJets and Citation Shares....

Example: Let's assume for demonstration purposes that a pilot were to upgrade to captain during Year 5 at either company. Looking at the pay tables on airlinepilotcentral.com, would the new captain be paid the listed captains pay for Year 1, OR since it's his fifth year, would he be paid the listed captains pay for Year 5.

Any insight is appreciated as I've heard conflicting answers to this. Many thanks.

Flexjet captains go down one year. i.e. if you make captain in Year 4, you go to Year 3 Captain pay.

Upgrades rumored to be slowing down. Attrition has dropped to almost zero since the pay raise, recession, and age 65 rule.

 

[Abbey]

Flexjet captains go down one year. i.e. if you make captain in Year 4, you go to Year 3 Captain pay.

Upgrades rumored to be slowing down. Attrition has dropped to almost zero since the pay raise, recession, and age 65 rule.

Turn off CNN and pick up a WSJ. It isn't setting records, but the economy is still writing with black ink.