Airline Pilot Retirement

Hey, there! Just wanted to know if Pilots get a pension since they retire at the age of 65?

Mohsina,

For the vast majority of pilots pensions have disappeared and have been replaced with DC plans (ie, 401Ks).

UPS is the only airline I’m aware of that still has an actual pension. FedEx has some pilots that still have pensions but from what I’ve read that’s probably going away in their next contract.

Adam

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At my airline, we have a defined contribution of 16%. This means that if I make $300k, the company puts $48k into my retirement account, I do not have to contribute anything to receive that money, although I can contribute if I wish to. This method is standard for the majors, while the regionals seem to favor more of a traditional 401k match.

Chris

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That. Is. Insane. Half of Americans make less than $50k.

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Not insane, well deserved.

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Guess it’s true that hard work really does pay off huh!

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We’ll have to revisit this conversation when I’ve reached your level. Hard for me to imagine from where I stand.

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Chris,

If you don’t mind, is it just the 16%, or if you (as the employee) contribute additional funds on your own above that, does the company match any of your contributions?

Michael,

Can’t speak for United but at Hawaiian we get 15% from the company regardless of what we contribute. You can (and most do) contribute above that but the thing is at this income level most of us max out what the govt allows by mid year.

Adam

Michael,

It is just the 16%, we are not able to contribute more, but most of us couldn’t anyways due to IRS limitations.

Chris

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Thank you!