In the recently negotiated contract, higher pay rates and additional employer contributions to defined contribution (DC) plans were secured. As a result, these benefits will cause more pilots to exceed annual IRS limits on amounts that may be contributed to the PISP 401(k). Company contributions to 401(k) exceeding these limits spills into pilots’ paychecks, thereby limiting potential tax-deferred and dues free retirement savings. The Alaska Pilots’ Retirement and Insurance (R&I) Committee, professional ALPA staff and other subject matter experts have researched multiple tax-advantaged avenues to address the spill issue. Join host Strategic Communications Chair David Campbell as he discusses this issue and the solutions being worked on with MEC Chairman Will McQuillen, R&I Committee Chairman Shane Wrobel, R&I Committee member Jerry Traphagen, and ALPA Benefits Specialist Phil Borgman.
Alaska pilots may find additional information, including an animated video, FAQs, dates for upcoming coffee sits, and more by clicking here.
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