Delta Pilots Savings Plan
04-21-2008, 06:42 PM
#1
Gets Weekends Off
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Joined APC: Jul 2007
Position: Permanently scarred
Posts: 1,707
Delta Pilots Savings Plan
Can any Delta guys confirm from personal experience how much Delta matches in contributions toward the Delta Pilots Savings Plan? I received two different brochures from Delta about savings plans. One is titled The Delta Family-Care Savings Plan Highlights. It stated Delta matches 100% of employee contributions to the Savings Plan up to a maximum of 5% of eligible earnings (2% automatically even if you don't make your own contributions). I later learned from a Fidelity rep that this plan is not available for new pilot employees since we have the Pilot Savings Plan.
The other brochure I received applies to pilots: The Delta Pilots Savings Plan and Delta Pilots Defined Contribution Plan Highlights. This brochure also stated that Delta will contribute 2% w/o a pilot making any contributions to the Pilot Savings Plan, however it made no mention of Delta matching up to 5% like it does toward the Delta Family-Care Savings Plan. I figured the Pilot Savings Plan should at least provide for matching contributions of 5%, like the non-pilots plan; maybe more. After speaking to a Fidelity rep I learned that the pilots plan is different. According to the rep Delta matches up to $15,500 (the annual IRS limit for Pre-tax and Roth 401(k) contributions). When I asked him if I heard him right he said this was something the pilots gained after the group made its concessions in regards to retirement. He had me on hold for a while as he looked this up, and conferred with someone who knew more than he did, so I'm a more than a little suspicious about the information.
I've looked at section 26 of the PWA to see if this is spelled out, but I think a few semesters of law school are needed before I can figure out what they're really saying.
Does anyone know if Delta contributes more than the 2% in matching contributions toward the Pilots Savings Plan?
If so, to what percentage amount/limit?
Thanks,
GG
The other brochure I received applies to pilots: The Delta Pilots Savings Plan and Delta Pilots Defined Contribution Plan Highlights. This brochure also stated that Delta will contribute 2% w/o a pilot making any contributions to the Pilot Savings Plan, however it made no mention of Delta matching up to 5% like it does toward the Delta Family-Care Savings Plan. I figured the Pilot Savings Plan should at least provide for matching contributions of 5%, like the non-pilots plan; maybe more. After speaking to a Fidelity rep I learned that the pilots plan is different. According to the rep Delta matches up to $15,500 (the annual IRS limit for Pre-tax and Roth 401(k) contributions). When I asked him if I heard him right he said this was something the pilots gained after the group made its concessions in regards to retirement. He had me on hold for a while as he looked this up, and conferred with someone who knew more than he did, so I'm a more than a little suspicious about the information.
I've looked at section 26 of the PWA to see if this is spelled out, but I think a few semesters of law school are needed before I can figure out what they're really saying.
Does anyone know if Delta contributes more than the 2% in matching contributions toward the Pilots Savings Plan?
If so, to what percentage amount/limit?
Thanks,
GG
04-21-2008, 06:50 PM
#2
Doesn't Get Weekends Off
Joined APC: Jun 2007
Posts: 2,598
As a pilot they don't match any of your contributions. They put 2% into your 401K plan which is the Delta Pilots Saving Plan whether you put in any or not. They then put 9% into your Delta DC plan. It doesn't matter what you put into the DPSP, they will only put in 2%.
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