benefits
Caravan,
I only receive 60% of my compensation in the form of pay. The other 40% comes from stock options and profit sharing.
I do not use the company medical plan. I am on my wife’s plan. It’s an exceptionally good one. The one my company has is OK for today’s standards I think. I hear some people complain about what is covered, medication etc, and what’s not but I think some of that is normal. If you are on the plan you pay for part of it and the company pays the other part. I don’t remember how much it is.
Retirement is a 401k. Defined contribution. I can save $10,500 per year tax deferred. The company matches my contribution up to a max of $10,500. Junior pilots are limited as to how much they put in their 401k by a percentage of income rule. But by the time they make captain, six years or so, they can save the full amount. The union administers the 401k. They provide a choice of several funds in which we can invest. Most are stock funds. There’s also a bond fund. Most of us have the money in the stock market.
Per Diem is $2.15 per hour away from base. It comes out to a little over $500 a month.
Free space available travel for my immediate family and myself. Children until they reach the age of 21. There’s also some free travel for “significant others”. Singles can name a significant other. (This was put in place for gay people since they can’t legally marry in most states.)
That’s it I think. Some of the other majors have Defined Benefit retirements, and/or Defined Contribution plans, uniform allowances, parking, etc.