Is the AA Pilots 401K the same for all employees @AA?

[SWAMECH]

Hate seeing articles like this. Hope everyone gets made whole again, if required. Ours is the same here.
Glad to the suit by an observant pilot as some fault was found. And this is why everyone should always be very active and involved with their 401K's and investments. Can't wait to see our rate of return after one year with Trump back at the helm. If he can do the same or even better than last time that would be enough for me.
Hope you Pilots get this all worked out for the better...

https://finance.yahoo.com/news/american-airlines-faces-backlash-esg-173016955.html

 

[WeAAsles]

Pilots have a much richer retirement package than other work groups not counting senior executives.

Flight Attendants, Mechanics, Ramp and CSA all have the same formula which is a 5% Contribution and 4% Match.

Here’s a link to the Pilot Contract from Aerocrew. (You’re welcome)

https://aerocrewnews.com/wp-content/uploads/2023/07/American-Airlines-TA.pdf

 

[Black Magic]

Pilots get a heavier 401K package also because they are forced to retire at 65 while other work groups can work longer. Being a IAM represented ramp employee at AA we only get the 4% 401k match. The company does contribute a % to the IAM pension fund though. I for one would trade to have the 401K 5% AA contribution in a heartbeat over the garbage IAM pension!

 

[SWAMECH]

Pilots get a heavier 401K package also because they are forced to retire at 65 while other work groups can work longer. Being a IAM represented ramp employee at AA we only get the 4% 401k match. The company does contribute a % to the IAM pension fund though. I for one would trade to have the 401K 5% AA contribution in a heartbeat over the garbage IAM pension!

Yes. I agree with you about 401K over the IAM pension. More self control and a much better payout with the 401K when managed properly. Plus I have read where all these pensions make cuts to members benefits with no say so from the members. I have seen upwards of 30% cuts in past years in both the IAM and the teamsters pensions.

 

[WeAAsles]

Yes. I agree with you about 401K over the IAM pension. More self control and a much better payout with the 401K when managed properly. Plus I have read where all these pensions make cuts to members benefits with no say so from the members. I have seen upwards of 30% cuts in past years in both the IAM and the teamsters pensions.

Stop trying to undermine. There is no traction for the garbage you come here to try and sell loser.

 

[Black Magic]

Back to this subject on the AA 401k plan. Does anyone know if the company offers a "true-up" contribution on the company match portion of the 401k if you max out your personal 401k limit early in the year? For example my workgroup gets a 4% match on my earnings for the year, but if I max out my 401k early on in the year ($23500) will the company add the extra the $ extra funds at a later date?

401(k) True-Up: What It Is, How It Works, FAQs

A true-up is an additional, end-of-year matching contribution to an employee's 401(k) if they haven't received the full match they are entitled to.

www.investopedia.com

 

[SWAMECH]

Back to this subject on the AA 401k plan. Does anyone know if the company offers a "true-up" contribution on the company match portion of the 401k if you max out your personal 401k limit early in the year? For example my workgroup gets a 4% match on my earnings for the year, but if I max out my 401k early on in the year ($23500) will the company add the extra the $ extra funds at a later date?

401(k) True-Up: What It Is, How It Works, FAQs

A true-up is an additional, end-of-year matching contribution to an employee's 401(k) if they haven't received the full match they are entitled to.

www.investopedia.com

Not sure on this question. You would need to look it up on your benefits.

 

[WeAAsles]

Back to this subject on the AA 401k plan. Does anyone know if the company offers a "true-up" contribution on the company match portion of the 401k if you max out your personal 401k limit early in the year? For example my workgroup gets a 4% match on my earnings for the year, but if I max out my 401k early on in the year ($23500) will the company add the extra the $ extra funds at a later date?

401(k) True-Up: What It Is, How It Works, FAQs

A true-up is an additional, end-of-year matching contribution to an employee's 401(k) if they haven't received the full match they are entitled to.

www.investopedia.com

I asked Fidelity this question about a year ago because I was going to come close to maxing for over 50 and they told me yes AA does a true up. I was told they would make that deposit in February.

 

[Black Magic]

I asked Fidelity this question about a year ago because I was going to come close to maxing for over 50 and they told me yes AA does a true up. I was told they would make that deposit in February.

Thanks, good info to know. I called payroll yesterday and they didn't seem to know what a true up was or if they could do it. Could be like most things it all depends on who you get on the phone.