Profit Sharing Election Window Now Open
Date: January 28, 2017
Type: AFA Article
As a result of this financial performance, employees earned $628 million in Profit Sharing for the full year. Profit Sharing payments will be paid out on a separate check on Feb. 27, 2017, through your normal payroll process (i.e., direct deposit or physical check).
Employees in participating workgroups share a portion of United's profits when the Company earns more than $10 million in adjusted pre-tax earnings for the year. The percentage of profits set aside for Profit Sharing varies by workgroup, and depends on your contract or company policy. For 2016, for Flight Attendants the Profit Sharing percentage of 1/1/16 – 12/31/16 eligible earnings is 7.8766%
Beginning January 27, 2017, Flight Attendants will be able to access their individual statements in Flying Together > My Info > Mangers Tool Box > Profit Sharing Payout Details. Supervisors & managers do not have access to your individual Profit Sharing statement.
The special election window for Profit Sharing will be open from January 27, 2017 through February 12, 2017, giving all eligible employees the option to defer a portion of their Profit Sharing payout to their eligible retirement plan account.
Note: Internationally domiciled Flight Attendants in FRA, HKG, LHR or NRT will not receive a separate paycheck but will instead receive the Profit Sharing payment on their regular paycheck closest to the distribution date due to taxation and other regulation issues net of any deferrals to any eligible retirement plan account. Members outside the U.S. who are enrolled in the floor rate program receive appropriate floor exchange rates when Profit Sharing payments are received through the normal payroll process.