777 Payout

[kirkpatrick]

Well, Oct. 15 has come and gone. Was the payout made on time? Anybody here get a check?

I'm not one who thinks many will leave, but I would expect a small spike in attrition of a couple of hundred.

So, did it happen?

MK

 

[L1011Ret]

MK, good to see you back! Yes, payments were made in the October 15th checks as I understand from posts on other BB's. There was a lot of bitching about the "excessive" size of the Federal withholding tax in those checks.

 

[Senor Pelon]

Welcome back, MK.

In 6months or less I hope to see you working a flight into LAX.

Sam

 

[jimntx]

Mark, good to see you back! Have to ask though...While they were in there, did the surgeons try to fix the broken part of your brain that makes you want to work for an airline? Or, was it the tumor causing that unnatural desire?

The payout took place as scheduled. Now for the news...

Attrition rate for September was 91! Jan-Apr - 191. May - 70. June - 87. July - 217 (counting the 137 who did not return from OVL). August - 81. September - 91. Does anyone spot a trend emerging?

If attrition stays at this level, you may be back before the end of next year, Mark.

Now for the rumors...

Heard the other day from an IDF f/a that as many as 200 may retire from just IDF in the next 3 months.

 

[kirkpatrick]

MK, good to see you back! Yes, payments were made in the October 15th checks as I understand from posts on other BB's. There was a lot of bitching about the "excessive" size of the Federal withholding tax in those checks.

[post="192053"][/post]​

I'm back and I'm back for the duration! I'll be haunting the hallowed halls at least another ten years before I'm ready to hang it up.

As far as excessive withholding is concerned, it's important to remember that withholding has nothing to do with the tax you owe. If they overwithheld, people will get bigger refunds. Our Marx awards and other payouts were taxed at 28% Fed, IIRC. It'll all come out in the wash.

MK

 

[kirkpatrick]

Mark, good to see you back! Have to ask though...While they were in there, did the surgeons try to fix the broken part of your brain that makes you want to work for an airline? Or, was it the tumor causing that unnatural desire?

They didn't touch the airline lobe. It was buried much to deep to get to.

Attrition rate for September was 91! Jan-Apr - 191. May - 70. June - 87. July - 217 (counting the 137 who did not return from OVL). August - 81. September - 91. Does anyone spot a trend emerging?

I see a healthy attrition rate for at least the next few months, and I see TWA recall letters by late spring or early summer. Luckily, I lost over twenty pounds between worrying about dying and spending two weeks eating hospital food. I might actually have to take the uniform in a bit.

Now for the rumors...

Heard the other day from an IDF f/a that as many as 200 may retire from just IDF in the next 3 months.

Sounds great. Almost too great, but stranger things have happened.
Congratulations on getting your job back!

MK

 

[jimboli]

As far as excessive withholding is concerned, it's important to remember that withholding has nothing to do with the tax you owe. If they overwithheld, people will get bigger refunds. Our Marx awards and other payouts were taxed at 28% Fed, IIRC. It'll all come out in the wash.

MK

[post="192190"][/post]​

Federal governtment dictates withholding tax rates. On non-regular wage withholding (i.e. not a normal paycheck), withholding is 28%. Nothing anyone can do about it. If AA did not withhold at the required rate, it could be subject to interest and penalties. If you think you were overwithheld, you can do a tax projection and adjust your withholding for the rest of the year (by changing your # of exemptions with max # being 10). If you do:

1. Dont forget to change back at Jan 1.
2. If you are then underpaid, you will be subject to interest and penalties.
3. As KP said, any overwithholding will be refunded when you complete your 2004 income tax return due 4/15/2005.

--Jim

 

[Corinth2103]

Heard the other day from an IDF f/a that as many as 200 may retire from just IDF in the next 3 months.

[post="192066"][/post]​

I heard the same rumor the other day on my DFW-CDG trip...in fact, the f/a I heard it from had just come back from his supervisor's office and she told him that just before he walked in, three f/a's had come in and retired..I think they're dropping like flies folks!!!

Tim

 

[eolesen]

It shouldn't surprise anyone to see more retirements right after the payout. IIRC, when we actually got profit sharing, we had similar spikes in retirements and resignations right after checks were issued. Why not hold on a few weeks longer and get the check?...

That may also explain why 600+ recalls were announced a few weeks back. I thought that number was a bit high, until I saw the Oct 15th payout date...

 

[IORFA]

Got my check, the taxes taken out were by no means excessive. Couple hundred dollars each. Nothing to even give a " double take " about. Actually compared it to a very similar end of the month check and all the deductions were within $5 of each other. IMO, just a little rumor.

 

[fliboi78]

i had over 600 dollars in taxes taken out. thats about 300-400 dollars more than my usual end of the month check. i call that excessive, well at least for me!