CFIT
Gimme your money
- Joined
- Oct 3, 2005
- Posts
- 821
With the new contract the discrimination test is performed just against ASA pilots, which should prevent the HCE trigger from happening. I assume ExpressJet is the same way.
Previously, we were compared with all ASA employees, most of which didn't contribute to the 401k. I think company-wide ASA is at 30% participation, which is why we ran into trouble with it before.
At SkyWest Airlines it was just the opposite, when the test was run against just the pilot group the HCE bias was even worse than compared to the entire employee group. The HCE group has been offered a Deferred Compensation Plan but I have not been able yet to invesitigate it.
For the last 5 years I have been getting money back from my 401K plan that is taxed at sky high levels.