2015 ICP Payout Information
Post date: Jan 29, 2016 6:28:40 PM
Friday, January 29th is the magic day
Subject: FW: profit sharing payout information
Below is a brief explanation of our profit sharing payout. There are two BLET Scheduled ICP plans:
The first is the former Santa Fe BLET Scheduled ICP Plan. This plan is applicable to engineers who worked on the former Santa Fe territories in through freight and local service. The plan will pay 60.00% of the 4% of qualifying engineer earnings during 2015. To figure this payout, multipy 2.40% (60.00% times 4%) by the qualified earnings Santa Fe road and local engineers earned during 2015.
The second plan is the BNSF System BLET Scheduled ICP Plan. This plan is applicable to all classes of engineers. The plan will pay 60.00% of the 8.08% of qualifying engineer earnings during 2015. To figure this payout, mutiply 4.85% (60.00% times 8.08%) by the qualified earnings BNSF engineers earned during 2015.
Each employee will be able to view a recap of all qualifying ICP earnings by Plan and CA Code by January 27th. Use those numbers to mutiply by the percentage of each plan and add them up to determine your payout. Below are a few additional facts that will help in understanding how your ICP payment was calculated:
BLET Scheduled ICP is calculated on all qualifying BLET earnings paid from Jan. 1 - Dec. 31, 2015. This is not equal to your W-2 amount.
Some exclusions that do not count toward eligible earnings for 2015 BLET Scheduled ICP are:
Any UTU earnings
2014 BLET Scheduled ICP paid to you in 2015
All non-tax codes, including mileage reimbursement and meal and lodging codes
Certain penalty codes are not included, including incentive pay. Attached are those codes.
If you have any questions do not hestitate to call.
BLET ATSF-BNSF General Committee
817-426-9003 (ext 103) office