2018 Profit Sharing
January 18, 2019
MEC Communications Committee
This week the company reported its 4th Quarter and Full Year Financial information and announced employee eligibility for profit sharing payouts for 2018.
Pre-tax Earnings 2018
Net Income 2018
Pre-tax Earnings 2017
Net Income 2017
Our Contractual Profit Sharing Program is set forth in Section 4.N. of our JCBA and provides that all Flight Attendants who have completed one full year of service as of December 31st of the year for which pre-tax earnings are being measured are eligible to participate in a pre-tax profit sharing program.
In the event the company has more than $10 million in Pre-tax earnings in the relevant calendar year (2018), the Flight Attendant Profit Sharing Pool shall be based on two components:
1. 10% of Pre-tax Earnings that are not in excess of the Pre-tax earnings for the previous calendar year, and
2. 20% of Pre-tax Earnings that are in excess of the Pre-Tax Earnings for the previous calendar year.
Eligible Flight Attendants' Profit Sharing Bonuses are calculated on a pro rata basis as part of the Annual Profit Sharing Pool determined by the ratio of the Flight Attendant’s Considered Earnings for the previous year (see Success Sharing Plan) to the aggregate amount of Considered Earnings for all eligible employees that year.
As a result of United’s 2018 financial performance, employee’s earned $334 million in Profit Sharing for the full year. 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 either your contract or company policy.
Flight Qualified Management
Management & Administrative
Fleet Service Employees
For 2018, for Flight Attendants the Profit Sharing percentage for the period from 1/1/18 - 12/31/18 eligible earnings is 4.6115% based on $3,585 million adjusted pre-tax profit.
Flight Attendants can view their personalized profit sharing statement by logging in to Flying Together, Employee Services, Compensation & Incentives, click on Your 2018 Statement under the Profit Sharing header.
Keep in mind, you may elect to contribute a portion of your Profit Sharing payment into your company-sponsored retirement plan accounts:
1. Pre-tax to your 401(k) plan or U.K. Stakeholder Account
2. Roth 401(k)
3. Post tax 401(k)
The sum of the percentages allocated to any combination of the company sponsored retirement plan accounts may be less than or equal to 100% however, it cannot be greater. Any unallocated amount will be paid in cash. We have until 11:59PM CT on February 4, 2019 to make these elections.
Distribution of Profit Sharing checks will begin February 27, 2019 and will be disbursed by direct deposit or physical check.
Note: payment date may vary depending on location.
For additional information please review the profit sharing FAQ.