Q: Isn’t Alaska Airlines Company policy for FAs and pilots that we can retire with flight benefits at 45 years old as long as we have at least 10 years of service? When L-VX FAs are moved to the Alaska 401(k) plan, why won’t our 401(k) vest at 100% once we have 10 years of service and are at least 45 years old?
A: AS Company policy for retiree flight benefits is at 45 years old and 10 years of vesting service. The Company match portion of your L-VX 401(k) is automatically 100% vested when it is transferred over to the AS 401(k). The Company match portion of the AS 401(k) vests separately and becomes 100% vested at 5 years of vesting service pursuant to §29.C [Profit Sharing and Retirement: Vesting Schedule…] Employees are always 100% vested in their own contributions. Retiree pass benefit eligibility and the 401(k) vesting schedule are completely separate timelines, one being Company policy (pass benefits) and the other contractual (vesting schedule).