United and Continental Q3 Profits.

[densoo]

What profit sharing? That's no longer in place

The C02 profit sharing sunset last year, just before things turned around (imagine that).

However, when the merger was announced the pilots were grafted into the company's rank and file employee profit sharing plan.

[FONT=OOJZIU+TimesNewRoman,Bold]

[FONT=OOJZIU+TimesNewRoman,Bold]5.1 Annual Award Pool. [/FONT][FONT=OOJZIU+TimesNewRoman]Subject to Section 5.2, the “Annual Award Pool” for any Year shall be an amount equal to [/FONT][FONT=OOJZIU+TimesNewRoman,BoldItalic]A [/FONT][FONT=OOJZIU+TimesNewRoman]multiplied by [/FONT][FONT=OOJZIU+TimesNewRoman,BoldItalic]B[/FONT][FONT=OOJZIU+TimesNewRoman], where:[/FONT]

[FONT=OOJZIU+TimesNewRoman,Italic]A [/FONT][FONT=OOJZIU+TimesNewRoman]equals the dollar amount of Pre-tax Income, if any, earned with respect to such Year multiplied by 15%; and[/FONT]

[FONT=OOJZIU+TimesNewRoman,Italic]B [/FONT][FONT=OOJZIU+TimesNewRoman]equals a fraction, the numerator of which is the total Base Pay of all Participants for such Year and the denominator of which is the sum of (i) the total Base Pay of all Participants for such Year [/FONT][FONT=OOJZIU+TimesNewRoman,Italic]plus [/FONT][FONT=OOJZIU+TimesNewRoman](ii) the total Base Pay of all Excluded Persons for such Year.[/FONT]​

[/FONT]

 

[mamba20]

The C02 profit sharing sunset last year, just before things turned around (imagine that).

However, when the merger was announced the pilots were grafted into the company's rank and file employee profit sharing plan.

So are we gonna "get some" or not?

 

[hotwing]

What profit sharing? That's no longer in place

where have you been?

 

[densoo]

So are we gonna "get some" or not?

Yes. There is an aggregate profit for the year so far. As long as they don't lose money in the 4th quarter, there will be a payout.

It is shared with just about all the employees, proportionally based on each one's income so it won't be a lot, but it will be there. It won't be like the $50K to $100K that DAL gives each of their pilots every three years, but it will be something.

 

[Sumo14]

Yes. There is an aggregate profit for the year so far. As long as they don't lose money in the 4th quarter, there will be a payout.

It is shared with just about all the employees, proportionally based on each one's income so it won't be a lot, but it will be there. It won't be like the $50K to $100K that DAL gives each of their pilots every three years, but it will be something.

IF we make an annual profit, it works out to be roughly 4-5% of gross for 2010. At least it's something, but compared to the previous program it's a joke.

 

[Ex737Driver]

IF we make an annual profit, it works out to be roughly 4-5% of gross for 2010. At least it's something, but compared to the previous program it's a joke.

Gotta remember that since big "O" is now taxing your company paid health care, your gross from 2010 is going to be at least another $8-$10 K.

 

[densoo]

Gotta remember that since big "O" is now taxing your company paid health care, your gross from 2010 is going to be at least another $8-$10 K.

Wha? Just to clarify, do you mean our gross is going to increase $8K to $10K? That would be great. How does it work?

 

[Beaver_Liquors]

Gotta remember that since big "O" is now taxing your company paid health care, your gross from 2010 is going to be at least another $8-$10 K.

I thought that was for individual plans over 10K and 15k for families, which i dont think our crap plan qualifies, and i dont think it starts until next year but i could be wrong too. They are required to print it on our w2 this year, but wont be taxed till next year

 

[COpilot]

We DO have profit sharing as agreed to in the transition agreement! It's not the same program as we previously had, but we do have profit sharing!

Woo hoooo! Same percent as before?

 

[Ex737Driver]

Wha? Just to clarify, do you mean our gross is going to increase $8K to $10K? That would be great. How does it work?

Your gross will increase for taxation purposes only. The money hasalready been paid to you in health care benefits.

You would think if they are going to show this on your W2 that you would be able to deduct it next year as well. I think the amounts to be taxed though, are still subject to change. I hope the numbers listed are correct because I just looked at mine and it says CAL paid me almost $11K last year in health benefits.

All that aside, if this amount is listed on your W2 by CAL, will it be included in your final compensation when determining your profit sharing for 2010? $500 more is $500 more.