Gentlemen – Well I spoke to soon. We have been told the security team has…
Brothers and Sisters,
News of the ICP payout is out. I am certain everyone has been overrun with questions as usual at this time of year. ICP is based on a 150% payout level for exempts and a 100% pay level for engineers. The payout for ICP was determined to be 100% for exempt employees and 66.7% for Engineers.
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 66.7% of the 4% of qualifying engineer earnings during 2022. To figure this payout, multiply 2.668% (66.7% times 4%) by the qualified earnings Santa Fe road and local engineers earned during 2022.
The second plan is the BNSF System BLET Scheduled ICP Plan. This plan is applicable to all classes of engineers. The plan will pay 66.7% of the 8.08% of qualifying engineer earnings during 2022. To figure this payout, multiply 5.389% (66.7% times 8.08%) by the qualified earnings BNSF engineers earned during 2022.