Any "Latest & Greatest" about Delta?
01-18-2012, 12:41 PM
Gets Weekends Off
Joined APC: Apr 2008
Posts: 581
They are both subject to tax advantages (and contribution limits) of 401k plans per the IRS. I don't think Delta will restrict your ability to retire based on age or years of service.
The limits you will encounter come from the IRS, regarding:
1) how much per year can be contributed-known as the 415c limit, which is $50,000 for 2012 and includes your employee contributions as well as Delta's DC and DPSP contributions on your behalf
2) what age you can begin making catchup contributions (I think it's 50, but I'm one of the "young" guys I don't have to worry about that quite yet
)
3) what age you can begin taking distributions from your tax-advantaged accounts without incurring a penalty. Again, I can't remember off the top of my head what the age is, but you'll probably find the answer faster on the IRS website or by calling ALPA, than calling 800-MYDelta
The limits you will encounter come from the IRS, regarding:
1) how much per year can be contributed-known as the 415c limit, which is $50,000 for 2012 and includes your employee contributions as well as Delta's DC and DPSP contributions on your behalf
2) what age you can begin making catchup contributions (I think it's 50, but I'm one of the "young" guys I don't have to worry about that quite yet
)3) what age you can begin taking distributions from your tax-advantaged accounts without incurring a penalty. Again, I can't remember off the top of my head what the age is, but you'll probably find the answer faster on the IRS website or by calling ALPA, than calling 800-MYDelta
That's good information... To add a couple of points:
1.) There is a maximum individual contribution as well. It's $17,000 but "catch-up contributions" are allowed for those of us 50 and older. Those add an additional $5,500 to the limit making it $22,500.
2.) The Roth account, whether it's a 401K or IRA, grows tax free as well. So you pay the taxes on the money up front but all the growth is tax free.
If you believe (as I do) that taxes will go up. That is something to consider. That feature also allows you to manage your income taxes in that when you start taking withdrawals from your retirement accounts you can adjust (within some limitations) how much you withdraw from your Roth and non-Roth accounts to minimize your tax liability.
01-18-2012, 12:48 PM
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Posts: 581
I believe (disclaimer) you can make contributions to a non-deductible IRA and then do a Roth conversion.
01-18-2012, 12:49 PM
Gets Weekends Off
Joined APC: Apr 2008
Posts: 581
Interesting news about the Salt Lake City airport:
Salt Lake City International Airport to be bulldozed and rebuilt | ksl.com
Salt Lake City International Airport to be bulldozed and rebuilt | ksl.com
01-18-2012, 12:50 PM
No longer cares
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Position: 767er Captain
Posts: 12,109
This is one of many reasons that the reserve system is the elephant in the room that nobody seems to be able to see. The company can use reserves from any base to cover any other base. This allows lower manning in any given base which in turn restricts lineholders' ability to swap drop etc... And.... since they can do this, they can avoid using short call reserves. They need to be accountable for each and every short call they assigned, and financially "penalized" for putting a pilot on SC. THEN.. they might be a little more judicious in those assignments... But we all know that ain't gonna happen, because we will all be senior someday...
01-18-2012, 12:52 PM
No longer cares
Joined APC: Mar 2008
Position: 767er Captain
Posts: 12,109
Interesting news about the Salt Lake City airport:
Salt Lake City International Airport to be bulldozed and rebuilt | ksl.com
Salt Lake City International Airport to be bulldozed and rebuilt | ksl.com
Hmmm I'll bet DAL pays the lion's share of this.. and everybody else benefits... again.
01-18-2012, 01:00 PM
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01-18-2012, 01:09 PM
Happy to be here
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Interesting news about the Salt Lake City airport:
Salt Lake City International Airport to be bulldozed and rebuilt | ksl.com
Salt Lake City International Airport to be bulldozed and rebuilt | ksl.com
01-18-2012, 01:14 PM
Happy to be here
Joined APC: Jun 2006
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Posts: 18,563
The cash that the airlines are putting forth appears minimal, and the finished result is a long way off. The design phase has not really started yet.
01-18-2012, 01:16 PM
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01-18-2012, 01:21 PM
Da Hudge
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