Vested for Retirement

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03-21-2023, 11:52 PM

#11

HBJ356

New Hire

Joined APC: Sep 2022

Posts: 5

Reference the 401K company contribution. For those employed prior to Oct 22, when does the company add their 4%? Is it annually, or monthly with your contributions? Or only after flying for 12 months? I can’t seem to find an answer?

I guess the question I’m asking is, for new hires prior to Oct 2022, who contribute to a 401K, when will we see the Company contribution in our 401k account?

Thank you

03-22-2023, 10:51 AM

#12

damnyourabbit

On Reserve

Joined APC: Sep 2017

Posts: 24

Quote:

Originally Posted by blimp

Per SWOL:

Pilots hired before 10/01/2022 are 100% vested immediately.
Pilots hired on or after 10/01/2022 will be 100% vested after three completed years of service.

Hold up, how did the 401K become worse.. Did people vote yes to this in the new "agreement?" god damn I'm so glad I got the hell out of there.

03-22-2023, 10:54 AM

#13

Skyhawk121

Gets Weekends Off

Joined APC: May 2015

Posts: 229

Quote:

Originally Posted by HBJ356

It's per paycheck. You contribute 4% and then the company matches it. You will see it on every check. It will go into your 401k account, but the funds will "un-vested" until you hit the vesting date. If you leave before the vesting date, you get to keep everything you contributed, but the "match funds" would roll back to the company. If you leave after the vesting date, it's all yours.

03-22-2023, 11:44 AM

#14

Round Luggage

Gets Weekends Off

Joined APC: Feb 2022

Posts: 449

Quote:

Originally Posted by damnyourabbit

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Hold up, how did the 401K become worse.. Did people vote yes to this in the new "agreement?" god damn I'm so glad I got the hell out of there.

The 401k was made better for all and it was voted down. The money was moved to wages and it was voted in.

03-23-2023, 07:55 AM

#15

rickair7777

Prime Minister/Moderator

Joined APC: Jan 2006

Position: Engines Turn Or People Swim

Posts: 40,264

Quote:

Originally Posted by trip

Also if you "retire" then go wok for another airline you just might (will) lose your retirement non-rev privilege's. I don't think anyone actually sticks around for those anyway, maybe a couple feline ranchers, IDK.

I know folks who "retired" from regionals when they came to my airline, and still have various nonrev bennies on other legacies.

Which major revokes your nonrev if you work for another airline?