2016 Profit Sharing Distribution

[swamt]

So this year we are receiving a total of 13.2% for PS. The co. stated that we will get 3.2% in a cash distribution and 10% put into retirement. SWA says they are doing this as employees have been complaining that they wanted some in cash. Well I don't agree with this. I would rather it all go into my PS retirement account. Maybe it's time to get the PS distribution system put into our contract like the pilots have it in theirs. All I am going to do with the cash distribution is blow it away. I would rather have the 13.2% along with my 401K going into retirement. Makes it much easier to reach the goal of 30% plus going towards retirement every year. I would love to hear some input on this from the SWA guys.

 

[jimntx]

There should be a mechanism within the retirement/investment/savings applications at WN that allows you to elect to put all or part the profit-sharing check into your 401-K. These "special elections" can also be used to put other money into your 401-K --say you received a bonus check from the company for coming up with a less expensive way to do a maintenance procedure, and you're like me. If I don't touch it, it doesn't exist; so, it goes into my retirement plan before I ever get my grubby little hands on it. I would certainly ask about it. I know we have this option at AA for the profit sharing checks because I've already elected for the check to go to the 401-K. I don't have a choice about the 9.9% company match because the company gets a tax credit for the match; so, it has to go to the retirement plan or I would get a tax hit for additional income.