Retirement Compensation
#1
Line Holder
Thread Starter
Joined APC: Sep 2022
Posts: 74
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
Per FJ's marketing material "Flexjet offers annual retirement benefits up to 18% of earnings, in 401(k) match and direct contribution.", but also says they only match up to 6% into your 401k...
Can anyone decode marketing-speech for real words?
cheers
Can anyone decode marketing-speech for real words?
cheers
![](https://www.airlinepilotforums.com/clear.gif)
#2
Line Holder
Joined APC: Feb 2021
Posts: 30
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
In short, it's a %6 match.
#3
In the Pool
Joined APC: May 2024
Posts: 10
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
It's a misleading statement. They match up to %6 but they give something called deferred compensation after 3 years which last I saw was up to 18k and can be put into your 401k but it goes against your personal contributions. It's basically just a bonus up to 18k that they'll eventually pay out and you can choose what to do with it.
In short, it's a %6 match.
In short, it's a %6 match.
#4
Line Holder
Joined APC: Feb 2021
Posts: 30
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
*And the %6 match is on a 4 year vesting schedule
#5
Gets Weekends Off
Joined APC: Aug 2018
Posts: 223
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
Either way you look at it, FJ gives you a 6% match, in addition to that you will qualify for an $18k bonus each year that pays out in 3 yrs, assuming you are still at the company. The $18k can be put into your 401k if you choose or paid out in cash. I believe this was done because NJ forces 1/3rd of the FDP to be a contribution to retirement and FJ is selling it as giving the employeee flexibility. The way I look at it, if a first year FO can not put away significant money into their own retirement making close to 200k per year and going up from there, its a them problem. Its not an airline retirement, but you should be able to live comfortably with how much you are making at Flex.
#6
New Hire
Joined APC: Mar 2024
Posts: 4
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
That's a good way of putting it. They market it as a retirment benefit because they know that's an area that's been lacking and continues to lag behind the industry. As many pointed out in another thread where it was discussed at length, it doesn't really address the retirment issue for a number of reasons (one I stated earlier).
*And the %6 match is on a 4 year vesting schedule
*And the %6 match is on a 4 year vesting schedule
#7
Gets Weekends Off
Joined APC: Oct 2016
Posts: 296
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
Is the 4 year vesting written anywhere? The packet I recieved says there will be an automatic 3% salary deferral and up to 6% matching. It also says I am 100% vested in my contributions, which makes sense, but doesn't give a vesting schedule for employer contributions.
#9
Line Holder
Joined APC: Sep 2018
Posts: 93
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
Either way you look at it, FJ gives you a 6% match, in addition to that you will qualify for an $18k bonus each year that pays out in 3 yrs, assuming you are still at the company. The $18k can be put into your 401k if you choose or paid out in cash. I believe this was done because NJ forces 1/3rd of the FDP to be a contribution to retirement and FJ is selling it as giving the employeee flexibility. The way I look at it, if a first year FO can not put away significant money into their own retirement making close to 200k per year and going up from there, its a them problem. Its not an airline retirement, but you should be able to live comfortably with how much you are making at Flex.
you do not qualify for an 18K bonus UNTIL AFTER 3 YEARS! And then it's either 18K against your personal max or it's a taxable bonus. At Netjets, you'll get 60+% match. Flex ain't even close.
#10
Gets Weekends Off
Joined APC: Aug 2018
Posts: 223
![Default](https://www.airlinepilotforums.com/images/icons/icon1.gif)
Regarding not even being close, on that one issue maybe not close, but in the big picture, first year pay is close to $160K (before bonuses), +10,15,20% bonus depending on your position, +$4,000 fuel bonus, +$18k bonus, +6% match 401k, + Flex pays for parking at domicile ($3,200 extra for me), + all meals go on company credit card so you keep the $42/day per diem ($8,700 bonus ), so maybe on one issue is not "better than" but as a whole Flex pilots arent doing so badly. Keeping in mind, the max 401 contribution is $23,000, if NJ give a 60% match its a $13,800 match, using $170k for a flex pilot (pretty conservative 1st year figure), it would be a $10,200 match so we are only talking about $3,600 difference. I think the other points above (i.e. just the parking) makes up for that.
Thread
Thread Starter
Forum
Replies
Last Post