US Airways profit sharing formula?

[ALGFLYR]

One trip to the verge of liquadation wasn't enough for them.

It's called "Living on the edge, baby!!!"

 

[Deadalus]

Yeah, no worries. I'm sure Delta will come and save us when the creditors are sharpening their knives at our door.:beer:

 

[PHXFLYR]

my guess is being held at a regional is not considered active at mainline, but you never know.

it's taxed at a higher rate, but that's the first i've heard of a 'gift tax'. if you want it to go into your 401k, you can adjust your 'bonus' withholdings to 50% and possibly even 100%...i know there was some stuff put out on that last year and i'm sure all the same info will come out again this time.

I believe the wholly owned regionals got a profit sharing check but I think the formula for computing the payout was different.

PHXFLYR

 

[greyskyracer]

At Piedmont our profit sharing checks were around 350.00. PSA didn't really give anything back in concessions, so they were not contractually entittled to profit sharing. I believe their management still gave them a very small bonus. (under $50.00)

 

[Crzipilot]

psa was entitled to profit sharing, as they did give some concessions during BK...but not much, so their checks were fairly small. 50.00 or so.

As to the J4J's being made whole for pay and benefits, ALPA has been very loose in the interpretation of that made whole language, I wouldn't put it past them to exclude those of us that are held. As they have found ways to give the jr less slices of the pie many times before. Now if they woulda fought for us to be paid our hourly mainline rate for the actual pay hours each month, (I.E. being made whole for pay) and even made up the difference in per diem and a few other things. then I wouldn't doubt we'd be included in the profit sharing. The ALPA track record speaks for itself...

 

[AutoBus]

Keep in mind, 4500-5000$ before taxes. Since this money is considerd "gift" money, it is charged with a 50% + gift tax.

It might not be a great idea to plan on profit sharring money when making a decision to come over to this "turd in a punch bowl".

wrong!

 

[OnTheDole]

just pulled the check... (west pilot)

last year pilot profit sharing before taxes $4712.32
after deductions (my normal witholding married/zero depedants, alpa and 401k) was $2620.60 if you add back in alpa (86.38) and 401k (282.74) you get $2989.72 which is a tax rate of 36.3%. On a normal check my final tax rate was 20% so they did ding the profit sharing @ a higher rate for me (and i assume for everyone else that didn't adjust their witholdings for the profit sharing check)

 

[PositiveRate]

I believe the bonus is taxed at the highest nominal rate. They put out some info about this as well as adjusting your 401k deductions to avoid some of that bite.

 

[PHXFLYR]

That is correct. The highest nominal rate, not 50 % like x rated claimed.

PHXFLYR

 

[xrated]

OOOFTA!! Note to self, DO NOT post on Flightinfo after downing a 1/3 bottle of Jack.

On behalf of myself and my entire family (including pet dogs, the kids hamsters and fish) I apologize for posting inaccurate information on this board. Upon further review my bonus was also taxed at a much lower rate than I had posted. Approx 35% as others have stated.

To right this wrong, on the day of my retirement, I will split my company funded pension pay out and give to all those who made important career decisions based on my bad advice.

Before the lynch mob comes and takes me away, can we maybe change this subject to somthing that is a little less confrontational like say.....The Nicolau award, or USAPA, or Doogies drinking and driving, the price of oil, Britney Spears?