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APFA Hotline Update – VEOP2 and 401(k) Special Election Deadlines This Friday
Friday marks two very important deadlines for the APFA membership.
2013 Profit Sharing Special Election
The company has announced that 2013 Profit Sharing will be distributed on March 13, 2014. Pre-merger AA employees will receive a share of $85 million. The option to change the Special Election percentage to your 401(k) ends Friday at 3:00 pm Central. Click here to view the Jetnet Q&As. Unless you elect otherwise, your current Special Election percentage(s) will be applied to the 2013 profit sharing payout. If you desire to increase, decrease or stop your Profit Sharing Special Election into your 401(k) account, you must take action before February 28, 2014 at 1500 Central Time. Verify your “Special Election on File” by following these steps:
Step 1 Go to J.P.Morgan Retire Online at www.retireonline.com and log in to your secure account
Step 2 Choose the “$uper $aver 401(k) Plan” link from the Account List on the home page
Step 3 Select “Contribution Amount” from the navigation bar on the left
Step 4 Review your special election percentage(s) in the “Special Election” field(s)
Step 5 Update your special election percentage(s), if necessary
Step 6 Select “Continue” and follow the additional prompts to complete your transaction(s)
Step 7 Review your confirmation and keep a copy for your records
One frequently asked question contained on the Jetnet Q&A page addresses employment status on the date of distribution:
Q: Do you need to be currently employed at American on the date of disbursement?
A: Yes. However, there are a few exceptions to be eligible for a payout such as, retirement, death, disability and involuntary layoff. In those situations, you do not have to be on payroll on the date of the profit sharing payout. In those cases, you are eligible to receive a payout based on eligible earnings for the time in which you were on American active payroll during 2013.
Q: What happens if I took a voluntary exit, and the next day retired?
A: You would not be eligible for a payout since your first event is the voluntary exit.
VEOP-2 – Voluntary Early Out Program
The final opportunity for pre-merger AA Flight Attendants to proffer for the Voluntary Early Out Program is Friday, February 28, 2014, at 10:00 a.m. Central Time. As of this morning, Wednesday, February 26, 2014, there were 255 pre-merger AA Flight Attendants who proffered for VEOP-2.
- Click Here for the VEOP online election form
- Click Here to read APFA’s VEOP packet prepared by Patrick Hancock (IDF) and Ron Harris (IDF)
- Click Here to read AA Flight Service’s VEOP information packet
- Click Here to read the VEOP-2 Q&A
- Click Here for the departure date preferences ballot
- Download APFA’s “Prepare for Departure” Retirement Booklet
AmericanAirlines + US Airways
“On Our Way”
APFA National Communications Coordinator