In correct.
Lets say you make 200k and put away 8% That will get you roughly 15500. Company matches appx 8% (SWA plan) of your salary. Thats another 15500. Profit share of 10%, thats another 20000.
Thats a total of 51K. 45k is the max this year so 6k will have additional tax.
A salary of 100k (2nd year pay) will get you about 33,500 if you max out.
True, we have to save some of our own money, but if you are not doing that anyway youre fool enough to end up broke one way or another.
I didnt understand it at first either. Hope this helps.
Hose what are you smoking? $100K for second year SWA pilot? I've got 5 guys in my squadron that are all 2-3 year pilots at SWA and none will make $100K this year (their words).