Diesel1030

Did RM say anything about our lack of retirement or yearly pilot pay increase?

CaptCoolHand

2.3% pay increase plus the 3% ret. work around is supposed to come to fruition... What I heard... Fwiw, I just hope it's not another reach around!

Diesel1030

One can hope... That still puts us about 10% behind on retirement but it would be step in the right direction. Hope it isn't stock options..

CaptCoolHand

Not options, but grants. The biggest problem with all of this is the tax implications for both the recipient and the distributor. The laws changed for stock distribution recently, so now the company takes a hit as gifted stocks are now considered bonus. So it gets taxed when you get it and when you take it then when you spend it! awsome huh.

Bluedriver

Where do you get the additional 10% number from? So the average is 23% retirement match?

Bluedriver

So, I am guessing there is no retirement tax-deferred vehicle they can put those stock grants into is there? Will be taxed like regular income? Or at cap gains if we keep it for at least a year?

Thanks.

Diesel1030

Compare us to Alaska for example. They get a 13.5% match. We get 5%..still a pretty far distance behind. I wont even mention Delta etc. Our 5 % profit sharing is not a guarantee nor do I consider it retirement.

Rake222

Come on champ. They have a few decades on us. And whatever you think ALPA would bring you, the next wall street friendly management team you would like to usher in would rip away many of your beloved benefits. Don't doubt if for a second. It's a GUARANTEE. So be careful with the position that things are so disadvantaged for JetBlue pilots. You may have lost perspective on the outside world. You can't just point to Alaska because you think it's a fair comparison. There are many worse of companies. We strike a decent balance in the middle while trying to improve things longer term. On that we agree.

And it's pretty much retirement / revenue sharing already and not what you contend. It goes into your 401K for your hands only. Ask the average person (reasonableness clause) in any industry & ours if getting 5% of the profits, even if the company loses a fortune is so bad and worthy of constant complaint.

More Bacon

How would they "rip away" your benefits if there is a contract in place?

Diesel1030

I'll hold my response for a few weeks to see how our profit sharing works out. I'm happy at JB, but not blind to the fact that things could be better.