IAM/SOUTHWEST AIRLINES LETTER OF AGREEMENT FOR NON-ELECTIVE CONTRIBUTION TO 401(K) AND CHANGES TO REGULAR PLAN PROGRAM
Dear Sisters and Brothers: The IAM and Southwest Airlines have signed a Letter of Agreement (LOA) that will now provide a 4% Non-Elective Contribution (NEC) to the 401(k) accounts of all Southwest employees represented by the IAM. Along with this change, the current 9.3% match will be reduced to 5.3%, which combined will still equal 9.3% as long as the employee contributes […]
