Southwest Pilots Profit Sharing?

[Floatplane]

I was just wondering how much on a percentage basis and/or in dollars you have received for the past five years. Please break it down by a yearly amount.

 

[Slug]

2005 7.50%
2004 5.00%
2003 8.00%
2002 5.10%
2001 11.70%
2000 16.20%
1999 14.10%
1998 13.70%

 

[roughneck]

It is a formula based on performance. I have heard that we will see 10% for sure this year and possibly as high as 13% depending on 4th QTR results.

 

[SkiFishFly]

Are the percentages, a percent of your annual pay for that year? How does it work exactly?

 

[roughneck]

yes, percentage of actual earnings for the year. % are calculated in the spring and announced. In mid September the profitsharring accounts are funded.

Example: Feb15th we will find out what the percentage is and on Sept 15th 2007 we will get X% of 2006 earnings deposited into the profitsharring account./

 

[FNG_that's me]

Two questions:

1) Is that profit-sharing account a 'retirement' account or do you have access to it real-time?

2) Do you get credit for trips you miss because of military duties? I'm pretty sure that you should by the letter of the law. Your profit-sharing should be calculated as if you had flow on those days.

Thanks.

 

[737tanker]

Two questions:

1) Is that profit-sharing account a 'retirement' account or do you have access to it real-time?

2) Do you get credit for trips you miss because of military duties? I'm pretty sure that you should by the letter of the law. Your profit-sharing should be calculated as if you had flow on those days.

Thanks.

1) You get your profit sharing account only when you leave SWA.

2) You get credit towards profit sharing for days that you are on military leave. It doesn't matter if you dropped a pairing or you were scheduled off the credit is the same.

 

[737ski]

There is a vesting period of 5 years for 100%. If, you leave before that (why, I don't know?!!) & you get a golden goose egg.

Just make sure you are on property before 1 Jan of year X & you'll get some jack (about Sept of the following year), WHEN the company turns a profit at the end of the year. But you need to do your part, my friend, so turn out the lights, APU, etc., when you're done, ...

 

[roughneck]

2) You get credit towards profit sharing for days that you are on military leave. It doesn't matter if you dropped a pairing or you were scheduled off the credit is the same.

I don't believe this is accurate. You get paid profit sharing as a percentage of your actual pay for the year. If you drop a trip for mil leave, you don't get paid for it. Therefore you don't get profit sharing for it. Or at least you shouldn't!

 

[FNG_that's me]

Or at least you shouldn't!

Glad to see where you stand on supporting our guard and reserves.

Merry Christmas.

 

[Oh-ryan]

So what kinda paydays have you seen from guys that have retired from SWA and cashed out?

 

[N1atEcon]

"Glad to see where you stand on supporting our guard and reserves."

Has nothing to do with that. Why should you get credit for something you didn't do. If you want profit sharing for your guard duty talk to Uncle Sam.
And yes i am ex military.

 

[shootr]

IRT military trip drop, SWA pilots do receive a percentage of their military duty earned toward profit-sharing. As an example, I averaged a little less than 1 3-day trip dropped per month in 2005. My profit sharing was almost identical to a fellow classmate with no trips dropped. The union is very sure to let military guys know about this so they account for every military day, even if no SWA days are affected.

Just my experience,
shootr

Oh, and don't shoot the messenger or the union. This is not in the contract and SWA does not have to do this. They just do it . Happy Holidays!

 

[roughneck]

Glad to see where you stand on supporting our guard and reserves.

This is not a bash on the military guys as I support yall and your mission fully.

Profit sharing is meant to reward employees for their work and contribution to the company, not the military. The US govt. pays you when you are on Military leave for your work, why would SWA (or other employees for that matter) want to share the profits for days you weren't even there?

 

[roughneck]

The union is very sure to let military guys know about this so they account for every military day, even if no SWA days are affected.

Are you telling me that my profit sharing is reduced because we are giving credit to military guys for their service days even when the days fall outside of scheduled SWA service?

 

[shootr]

No, I do not believe that a reservist can get more profit sharing than what they would have gotten had they flown their originaly awarded line. If I have to drop a very high paying 4-day to fly 3 days for the Navy, then the union (and the company BTW) wants me to be sure I get credit if I fly for the Navy on other days that I'm off from SWA. If my line was 90 trips but I only flew 68 trips, no matter how many days I work for the Navy I can't get more that 90 trips credit for profit sharing purposes. I'm sorry if this irks you. Maybe you can call somebody in Dallas and have it changed.

Happy Holidays!
shootr

 

[roughneck]

I had no idea we did that.

 

[munson]

SWA or SWAPA doing this has nothing to do with the goodness of their heart, its Federal Law that they do it. A company is required to afford military personel every right and opportunity as a civilian, and cannot take something away from them do to obligated service. Now, SWA dont have to pay you for the missed trip, but just like everyone else there, they are required to act as though you were there for profit sharing. Every airline is the same. You could be activated for a year with the military, and SWA is still required to give you profit sharing even if you never stepped foot on property one day during the year. To those of you who dont like, appreciate the fact that someone is out there doing a job that allows you to do yours.

 

[roughneck]

You could be activated for a year with the military, and SWA is still required to give you profit sharing even if you never stepped foot on property one day during the year.

Not exactly true, but close enough for government work I guess.

 

[Jim Smyth]

I never knew that about Military trip drops and profit sharing credit either but more power to ya. Thanks for protecting our country and way of life!

I am also hoping we get back to the double digit profit sharing percentages again!

 

[Purpled]

FX makes B-fund contributions for us when on Mil Leave. It's new to this contract, but I think we probably should have been getting it before too. Pesky federal laws and stuff.

 

[Floatplane]

2005 7.50%
2004 5.00%
2003 8.00%
2002 5.10%
2001 11.70%
2000 16.20%
1999 14.10%
1998 13.70%

Thanks slug!

 

[screwed_again]

Glad to see where you stand on supporting our guard and reserves.

Merry Christmas.

I do support you, I pay my taxes.

 

[FNG_that's me]

I do support you, I pay my taxes.

That's better than Wesley Snipes.

Don't forget, you're working with C.A.P., that's a great program. Thanks for lending a hand.