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Thread: To flow or not to flow

  1. #21
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    Quote Originally Posted by Meatloaf View Post
    How do you meet your max by the payout date? That's a lot of self contribution no?
    Quote Originally Posted by ardvark View Post
    16% per 100k equals 16k. So how do you max out at 56k with only 16% company contribution. Best I see is 32k unless you are also putting 33% in, the math does not add up.
    Quote Originally Posted by Meatloaf View Post
    And their profit sharing payout is on March 13th. So they have to be maxed out by that date...
    A few things.

    First, 2019 retirement fund contributions can be made up until April 15th 2020. That said, profit sharing is a separate plan from our 401Ks. Everything contributed before April 15th 2020 into the profit sharing plan is a 2019 contribution. It’s only 1 contribution per year.

    Second, it doesn’t matter when you reach the excess benefit number. You lose nothing. At the point you reach the max contribution, all additional contributions (profit sharing and the regular SWA contribution) are paid in cash or go to the excess benefit plan.

    Basically, if you are 50 or younger, you can contribute $56k total per year. For me, $19k of that is my regular contribution. The next $37k comes from SWA as their regular contribution and profit sharing. Everything over $37k (for me) comes in cash.

    At the end of the day, if you make $246k and you contribute $19k to your 401k, then that $37k is going to only consist of the regular SWA contribution. In this case 100% of profit sharing comes to you in cash. On the other end, once you make $136k and you contribute the $19k, you will reach the max contribution and get some cash from profit sharing.

    Examples:
    http://www.talkairline.com/album.php...achmentid=1032
    http://www.talkairline.com/album.php...achmentid=1033

    On another note, a benefit that is totally separate from the profit sharing and retirement contributions is the Employee Stock Purchase Program. You can spend up to $22,500 on SWAs stock each year at a price of 10% below market ($25,000 value). There is no holding time requirement, so if you choose, you can immediately sell it and make 10% on your money right away. That’s cool too.
    Last edited by RobertRoss; 02-09-2020 at 02:04 PM.

  2. #22
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    Quote Originally Posted by RobertRoss View Post
    A few things.

    First, 2019 retirement fund contributions can be made up until April 15th 2020. That said, profit sharing is a separate plan from our 401Ks. Everything contributed before April 15th 2020 into the profit sharing plan is a 2019 contribution. Itís only 1 contribution per year.

    Second, it doesnít matter when you reach the excess benefit number. You lose nothing. At the point you reach the max contribution, all additional contributions (profit sharing and the regular SWA contribution) are paid in cash or go to the excess benefit plan.

    Basically, if you are 50 or younger, you can contribute $56k total per year. For me, $19k of that is my regular contribution. The next $37k comes from SWA as their regular contribution and profit sharing. Everything over $37k (for me) comes in cash.

    At the end of the day, if you make $246k and you contribute $19k to your 401k, then that $37k is going to only consist of the regular SWA contribution. In this case 100% of profit sharing comes to you in cash. On the other end, once you make $136k and you contribute the $19k, you will reach the max contribution and get some cash from profit sharing.

    On another note, a benefit that is totally separate from the profit sharing and retirement contributions is the Employee Stock Purchase Program. You can spend up to $22,500 on SWAs stock each year at a price of 10% below market ($25,000 value). There is no holding time requirement, so if you choose, you can immediately sell it and make 10% on your money right away. Thatís cool too.
    Targeting this today or waiting 6-9 years to join the largest regional airline in the world and one that would be in bankruptcy should the economy tank within the next few years? Choices, choices.......and to boot, who would be able to have their picture taken with 4 stripes on their shoulder in the left seat of a Boeing or Airbus first? A pilot who goes to Southwest today or one who starts at AA (maybe) in 6-9 years (if it doesn't go bankrupt first)?

    My money would be on todayís Southwest new-hire.

  3. #23
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    Quote Originally Posted by RobertRoss View Post
    For those that think SWA is a sweatshop, here is some data.

    2019 stats at SWA
    8 mo 3 year pay, 4 mo 4 year pay
    104 days of duty (122 paid duty)
    293 flights
    2.8 flights per day
    551 hours

    $177K which doesn't include the free health insurance, but does include 12 days in March in which I was out sick for rotator cuff surgery, and 6 other days sick in 2019.

    Please know that flow to AA may not be your best option.
    . 5CB46E43-D985-45DC-91EB-C85C09C5793A.jpg

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    Quote Originally Posted by Meatloaf View Post
    Okay, weíll just ignore the 2 total landings made by 4 pilots during their 28 flight hour 3 day turn to Tokyo.

    ....... And, that in no way changes the stats you quoted.

    The difference is, we do those legs because (A) we can, and (B) we choose to. Itís all part of our industry leading premium pay system. Thatís why guys puddle jumping a -73 around the US can make as much as an AA -777 Captain.

    Dude, if you donít want to come to SWA, then please donít. Iím not recruiting you, Iím simply putting factual information out there to help people be informed.
    Last edited by RobertRoss; 02-13-2020 at 06:24 PM.

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    I've had the opportunity to look over several SWA pilot schedules. SWA pilots might fly more legs (not always!), but their schedules are FAR more efficient then AA pilots. It was clear to me SWA pilots are either flying the airplane making money or at home. AA pilots have a tendency to sit around hotels and airports spending less time at home and in apples to apples W-2 comparisons, making less for the privelidge. In some cases, substantially less.

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    Oh for the love of god...who gives a sh|t??? Myself and all of my buddies who are now at AA are very happy to be here and wouldn't jump ship to SWA. Rob Ross is very happy to be at SWA for and wouldn't jump ship to AA. We all have our own reasons. Can we just leave it at that and cease with the pissing contest? And the resident jack wagons that don't work at either place or Dacuj have any credible input on the matter.

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    Quote Originally Posted by RobertRoss View Post
    Okay, we’ll just ignore the 2 total landings made by 4 pilots during their 28 flight hour 3 day turn to Tokyo.

    ....... And, that in no way changes the stats you quoted.

    The difference is, we do those legs because (A) we can, and (B) we choose to. It’s all part of our industry leading premium pay system. That’s why guys puddle jumping a -73 around the US can make as much as an AA -777 Captain.

    Dude, if you don’t want to come to SWA, then please don’t. I’m not recruiting you, I’m simply putting factual information out there to help people be informed.
    Relax, I just posted some numbers. Just some more information. Not sure why you got your panties bunched up. I didn't attack you and I never said I didn't want to go to WN.

  8. #28
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    Quote Originally Posted by Sloosky View Post
    Oh for the love of god...who gives a sh|t??? Myself and all of my buddies who are now at AA are very happy to be here and wouldn't jump ship to SWA. Rob Ross is very happy to be at SWA for and wouldn't jump ship to AA. We all have our own reasons. Can we just leave it at that and cease with the pissing contest? And the resident jack wagons that don't work at either place or Dacuj have any credible input on the matter.
    Agreed

  9. #29
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    Quote Originally Posted by sloosky View Post
    oh for the love of god...who gives a sh|t??? Myself and all of my buddies who are now at aa are very happy to be here and wouldn't jump ship to swa. Rob ross is very happy to be at swa for and wouldn't jump ship to aa. We all have our own reasons. Can we just leave it at that and cease with the pissing contest? And the resident jack wagons that don't work at either place or dacuj have any credible input on the matter.
    ^^^^Funny ^^^^

  10. #30
    Super Moderator Cujo665's Avatar
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    Quote Originally Posted by Sloosky View Post
    Oh for the love of god...who gives a sh|t??? Myself and all of my buddies who are now at AA are very happy to be here and wouldn't jump ship to SWA. Rob Ross is very happy to be at SWA for and wouldn't jump ship to AA. We all have our own reasons. Can we just leave it at that and cease with the pissing contest? And the resident jack wagons that don't work at either place or Dacuj have any credible input on the matter.
    every once in a while comes along an outstanding post certain to be of legendary quality.....
    that first line was awesome backed up by sound logic and reason.
    I like it.
    __________________________________________________ __

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    Quote Originally Posted by Cujo665 View Post
    every once in a while comes along an outstanding post certain to be of legendary quality.....
    that first line was awesome backed up by sound logic and reason.
    I like it.
    This is a glowing tribute to the noted legendary effort and by one of the apparent "resident jack wagons" too.

    I like it!

  12. #32
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  13. #33
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    Quote Originally Posted by Cujo665 View Post
    Most airlines have had similar situations. It won’t affect their profitability nor SWA pilots compensation or QWL. NOTHING is going to improve AA pilot’s poor competitive existence except a miracle and that’s the issue pilots should be more concerned with.

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