You may notice that your E-Pays statement shows a big zero in the company match area of your statement for this pay period.
This is what the ePays statement reflects:
| INFORMATIONAL ONLY |
| Description Hours Amount YTD Amount |
| C Co Match AA Plus 0.00 x,xxx.xx |
So to get an understanding of this, we can look at the Implementation Agreement Reached
March 27, 2020, As far as the 401(k) goes, It states:
Paragraph 5 c
c. The employer contributions provided for in paragraphs 5) a. and b. above will be made to employees on a monthly basis and will be made after the last pay period of each month. For example, contributions for eligible compensation earned in May will be contributed in June. These contributions will be reflected in employees’ Fidelity 401(k) statements but will not appear in the employees’ Company payroll statements.
That means that you will not see a line on your ePays stub showing the amount that AA has matched to your 401 (k).
So, going forward, we will be able to look at our 401(k) plan and it should show that there is an employer contribution.
These are some notes taken from a webinar on this topic by Terry Buck:
401K 9% match will start May 1 2020, the company contributions for May will be deposited into members account June 10th 2020 must log onto member’s Fidelity website to see Employer’s contributions . Employer’s Contributions will be deposited on 10th of each of following months for the previous month employee contributions ,unless the 10th falls on the weekend then it will be deposited the previous Friday.
As always we can ask questions, please contact my401k@aa.com