SWA Contract - How good is it?

[momalley81]

That's not the point. The point is that you shouldn't be required to contribute some of your salary to your retirement. Anything you contribute should be icing on the cake. There should be a base retirement contribution from your employer without a dime coming from you.

No, that is the point.

I am not required to contribute anything from my salary to my retirement yet I choose to so that I can live the life I want to when I choose to retire.

If you want to compare contracts and what employers should be doing for their employees then lets compare SWA to AirTran and vice versa.

 

[JoeMerchant]

That's not the point. The point is that you shouldn't be required to contribute some of your salary to your retirement. Anything you contribute should be icing on the cake. There should be a base retirement contribution from your employer without a dime coming from you.

That is the thinking that has gotten us into this problem....We should all be contributing more to our retirement and health care.....The retirement and health care fairy doesn't exist....It is our responsibity to save for these things.....

I'm not sure where you folks think the money comes from to support someone from 60 to 90.....It doesn't fall out of the sky.....

You can either work longer or save more earlier.....Your choice.....

 

[satpak77]

I will add that if anybody is "relying on someone else" for their retirement, shame on them. We all should contribute a little something to somewhere, savings, 401(k) contributions, real estate, somewhere.

 

[maxblast72]

However as a third year F/O, I would rather have 7.3% of $130,000 versus 10.5% of $65,000

However as a fourth year Captain, I would rather have 10.5% of $140,000 a year than your 7.3% of $130,000. Now, when you upgrade in 10-12 years, you'll kick my ass but it is a long time between now and then.

 

[momalley81]

However as a fourth year Captain, I would rather have 10.5% of $140,000 a year than your 7.3% of $130,000. Now, when you upgrade in 10-12 years, you'll kick my ass but it is a long time between now and then.

$140,000 for an airline Captain really isn't anything to brag about.

We have F/O's pulling in over $200,000 a year.

However, for me that is working too hard and I like having 17-18 days off a month so that I can focus my energies in my other place of employment.

We even have some Captain's bringing home over $400,000. I wouldn't want their lifestyle yet I am sure their checks are somewhat impressive.

 

[400ADude]

140K is not good for a Capt.

 

[Skybus]

No argument there. But there's no reason why your wildly profitable company can't provide you a good B-fund so you don't have to contribute your own money to retirement if you choose not to.


Might that be the "Wildly profitable" company that u desire to work for and have more than likely been turned down by??

Can we put this off for another 20 years and then determine what was the better plan? It was not too long ago that the demands were for that wonderful defined benefit plan. Haven't heard that one on a while. Only time will tell....

 

[maxblast72]

$140,000 for an airline Captain really isn't anything to brag about.

We have F/O's pulling in over $200,000 a year.

However, for me that is working too hard and I like having 17-18 days off a month so that I can focus my energies in my other place of employment.

We even have some Captain's bringing home over $400,000. I wouldn't want their lifestyle yet I am sure their checks are somewhat impressive.

I am not bragging about $140,000 a year for Captain pay, but I think a 4th year W-2 of $140,000 isn't bad for today's environment. Every company is different. Some have really good payscales while others have really quick career progression.

I think Southwest has been one of the best run companies over the last 35 years. Good management that likes to share company prosperity with their employees is a refreshing change in this industry. However, how did Southwest's payscales compare to the industry average at Southwest 15 year mark (late 1980's)? We are working for a better contract here, and it helps to have your guys scale as an example of how well paid pilots can still be part of a successful company.

 

[328dude]

If your not investing on your own and relaying on your company to fund your retirement, then we are all stupid.

 

[GuppyWN]

If your not investing on your own and relaying on your company to fund your retirement, then we are all stupid.

Well the way I've been doing lately I feel pretty stupid now! Yikes.

Gup