swakid8
Well-Known Member
Enhanced Retirement and 401(k) Match Program
- Introduction of a new Defined Contribution Plan in addition to your 401(k) match which provides for a 2% defined contribution with a 5-year vesting period.
- Effective for 2022, the Company 401(k) match will increase to 10% from the current 6%.
- Elimination of the mandatory arbitration provision in the event of a merger with another airline.
- Implementation of a significantly enhanced Long-Term Disability (LTD) plan which provides coverage to age 65 (beyond the current two-year limit) in the event of loss of license/inability to perform services as a pilot.
- First-year competitive pay increase.
- $92 an hour starting rate, a shift from $1,600 per month for the first four months. In the transition, New Hire pay will not be decreased.
- A provision was added related to flying over 16 hours of block time and how that flying will be compensated.
- Numerous clarifications to articles 14, 24, 25, 27, 28 and 31.