JAN 31 - Employees receiving profit sharing have until Tuesday, February. 7 at 11:59 p.m. CT to elect to defer all or a portion of their profit-sharing payment to their eligible retirement account(s).
Profit Sharing Elections Close February 7, 2023 at 2359 CT
United management announced mid-January that profit sharing will be paid out to eligible employees on February 28, 2023. Employees receiving profit sharing have until Tuesday, February. 7 at 11:59 p.m. CT to elect to defer all or a portion of their profit-sharing payment to their eligible retirement account(s).
The option to defer is available for frontline employees participating in the United Airlines 401(k) plans, PRAP, UK Group Stakeholder Plan or CMI 401(k) Savings Plan. In order to make an election, employees must use the profit-sharing election tool.
It is important to discern there is no connection between the 401(k)-deferral percentage of your normal paycheck and profit-sharing. Your current retirement account contribution percentage for your normal paychecks will not be used or applied to your profit-sharing payout.
To verify eligibility for this special election window, please see the profit-sharing Q&A for retirement plan contributions.
Participating employees will receive their payment through their normal payroll process (i.e., direct deposit or physical check). Due to local requirements, the payout date may differ in some international locations.
