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Information on ICP

posted Jan 23, 2019, 12:02 PM by BLET 446 BLET 446   [ updated Jan 23, 2019, 7:57 PM ]

Letter from Executive Vice President of Operations Katie Farmer


As many have heard by now the ICP numbers were announced today. The number that was released was 105% of target with the target being 66.67%. That translates to a payout of 70% for our people. I have not yet been given a date when the payments will be made. I will update everyone when that information is made available.

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 70.00% of the 4% of qualifying engineer earnings during 2018. To figure this payout, multiply 2.80% (70.00% times 4%) by the qualified earnings Santa Fe road and local engineers earned during 2018.  
  • The second plan is the BNSF System BLET Scheduled ICP Plan. This plan is applicable to all classes of engineers. The plan will pay 70.00% of the 8.08% of qualifying engineer earnings during 2018. To figure this payout, multiply 5.656% (70.00% times 8.08%) by the qualified earnings BNSF engineers earned during 2018. 

Each employee will be able to view a recap of all qualifying ICP earnings by Plan and CA Code. Use those numbers to multiply 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 is calculated:

  • BLET Scheduled ICP is calculated on all qualifying BLET earnings paid from Jan. 1 - Dec. 31, 2018. This is not equal to your W-2 amount.
  • Some exclusions that do not count toward eligible earnings for 2018 BLET Scheduled ICP are:
    • Any UTU earnings
    • 2017 BLET Scheduled ICP paid to you in 2018
    • 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 hesitate to call.

 

 

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Rob Cunningham

General Chairman

General Committee #40

Brotherhood of Locomotive Engineers and Trainmen

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817-426-9003 x101  m: 817-382-1243

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877-546-6330

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101 N. Beverly St. Crowley, TX 76036

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Santafeblet.org  e: Rob@Santafeblet.org

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