United profit sharing official numbers alpa
01-29-2017, 01:55 PM
#34
Gets Weekends Off
Joined APC: Sep 2014
Position: Airbus 320 Captain
Posts: 481
Update on Profit Sharing
401K Deferral
The special election window for Profit Sharing will be open from Jan. 27, 2017, through Feb. 12, 2017, giving pilots the option to defer a portion of their Profit Sharing payout to their 401K. Pilots who wish to defer a portion of their Profit Sharing to their 401(k) plan will be able to make 401(k) elections by going to Flying Together > Employee Services > My Info > Continue to My Info and Manager’s Toolbox > 401(k) Special Election. The 401(k) election for Profit Sharing can only be made on Flying Together. Your Schwab 401(k) election that applies to your February 16 and March 1 paychecks is not applicable to your Profit Sharing payment.
ttps://crewroom.alpa.org/UAL/ImageView.aspx?id=10995
401K Deferral
The special election window for Profit Sharing will be open from Jan. 27, 2017, through Feb. 12, 2017, giving pilots the option to defer a portion of their Profit Sharing payout to their 401K. Pilots who wish to defer a portion of their Profit Sharing to their 401(k) plan will be able to make 401(k) elections by going to Flying Together > Employee Services > My Info > Continue to My Info and Manager’s Toolbox > 401(k) Special Election. The 401(k) election for Profit Sharing can only be made on Flying Together. Your Schwab 401(k) election that applies to your February 16 and March 1 paychecks is not applicable to your Profit Sharing payment.
ttps://crewroom.alpa.org/UAL/ImageView.aspx?id=10995
01-29-2017, 01:57 PM
#35
Gets Weekends Off
Joined APC: May 2015
Position: 777 CA
Posts: 1,039
(Compensation is in the Total Rewards section)
01-29-2017, 03:35 PM
#37
Gets Weekends Off
Joined APC: May 2015
Position: 777 CA
Posts: 1,039
Last year was a different animal. They put out calculators and such because it was lumped in with the Mar 1 paycheck. This year it's a seperate check again. Last years numbers wouldn't necessarily work this year.
01-29-2017, 03:44 PM
#38
Gets Weekends Off
Joined APC: Sep 2014
Position: Airbus 320 Captain
Posts: 481
01-30-2017, 11:06 AM
#40
Gets Weekends Off
Joined APC: Mar 2006
Position: guppy CA
Posts: 5,171
To clarify this further, the limit for employees is multipart:
(1) $18K ($24K for 50+) into Pre-Tax or Roth 401k.
Once (1) is filled, you can:
(2) Contribute Post-Tax up to the $60K maximum. However, you have to subtract (1) [$18k/$24k] and employer 16% contributions.
Once there is a total of $60K deposited into your 401k for the year ($60K is the 415c1 limit), all further employer 16% contributions 'spill' over into your RHA VEBA.
To illustrate with my 2016 contributions (limit was $59K; 2017 limit is $60K), my 401k was funded:
(1) $24K Pre-Tax (I could have chosen Roth),
(2) $20,800 Post-Tax (rounded for simplicity)
(3) $14,200.00 employer 16% (rounded for simplicity)
After reaching $59K, all of my employer contributions spilled into my RHA VEBA
Outside of the Profit Sharing check, you can elect to fund your 401k through the Schwab PRAP page: https://www.schwabplan.com/Net2/cmsp...PRAPlogin.html
I hope this didn't muddy the waters.
(1) $18K ($24K for 50+) into Pre-Tax or Roth 401k.
Once (1) is filled, you can:
(2) Contribute Post-Tax up to the $60K maximum. However, you have to subtract (1) [$18k/$24k] and employer 16% contributions.
Once there is a total of $60K deposited into your 401k for the year ($60K is the 415c1 limit), all further employer 16% contributions 'spill' over into your RHA VEBA.
To illustrate with my 2016 contributions (limit was $59K; 2017 limit is $60K), my 401k was funded:
(1) $24K Pre-Tax (I could have chosen Roth),
(2) $20,800 Post-Tax (rounded for simplicity)
(3) $14,200.00 employer 16% (rounded for simplicity)
After reaching $59K, all of my employer contributions spilled into my RHA VEBA
Outside of the Profit Sharing check, you can elect to fund your 401k through the Schwab PRAP page: https://www.schwabplan.com/Net2/cmsp...PRAPlogin.html
I hope this didn't muddy the waters.
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