Coolzero00
New Member
So is is this in lieu of our annual raises?
I prefer to just get paid salary, bonuses are stupid tricks imoIs that good or bad?
It'll be your new increase beginning Jan 1, then normal raises in April. So, no.So is is this in lieu of our annual raises?
It's pretty hard to beat their numbersI prefer to just get paid salary, bonuses are stupid tricks imo
But how much money was they putting into your pension plan?With the company giving such large raises and the new 401k pay out, that will mean 15-20+% for every Supervisor and above.. they’re is no way possible the company or stockholders will allow the current staffing numbers not to be chopped down considerably. Take your bump in pay and stash it away, we’ll likely need it to cover expenses in the near future
Read between the lines and understand how corporations make profits. Staffing is the # 1 expense a company has!
If it was anywhere close to those numbers, over 25-30 years, we all would be millions at 55.But how much money was they putting into your pension plan?
If it was anywhere close to those numbers, over 25-30 years, we all would be millions at 55.
With the company giving such large raises and the new 401k pay out, that will mean 15-20+% for every Supervisor and above.. they’re is no way possible the company or stockholders will allow the current staffing numbers not to be chopped down considerably. Take your bump in pay and stash it away, we’ll likely need it to cover expenses in the near future
Read between the lines and understand how corporations make profits. Staffing is the # 1 expense a company has!
It will have that ripple effect as mentioned on the call!!!! I did not notice what the pay raise is come January. Is it 7% which takes the sup from 17 to 10????? Added with the OIP, not too shabby of a cash bump!!!!!It is not a raise. It is just a re-allocation of funds. Whether it is salary or MIP it’s still the same. They just found a way to give the majority what they want…MORE MONTHLY CASH. I am sure the majority will like it but there will be some that would prefer the regular MIP and it’s future potential value 30 years down the road.
The young people will love the extra $$$ in their check. They have no stock anyway. The middle to old timers get totally screwed with future $$$ that would have been made with the ownership incentive. That's gone forever. One time bump can't replace that money lost.It is not a raise. It is just a re-allocation of funds. Whether it is salary or MIP it’s still the same. They just found a way to give the majority what they want…MORE MONTHLY CASH. I am sure the majority will like it but there will be some that would prefer the regular MIP and it’s future potential value 30 years down the road.
The MIP was a bonus. It’s been damn near nothing to a nice bonus like the last 2 years. It’s no longer looked at as a reward for a nice job, it’s part of your salary. They’re required to give it to you every month, that’s a raiseIt is not a raise. It is just a re-allocation of funds. Whether it is salary or MIP it’s still the same. They just found a way to give the majority what they want…MORE MONTHLY CASH. I am sure the majority will like it but there will be some that would prefer the regular MIP and it’s future potential value 30 years down the road.
Good point, but you now no longer have to worry too much about the 50% MIP. I could see the old timers being ok. How much more would they make anyway with 2-3 years left. I think this with the 401k will entice the eligible to stay a little longer. It also enables them to juice up their pension a bitThe young people will love the extra $$$ in their check. They have no stock anyway. The middle to old timers get totally screwed with future $$$ that would have been made with the ownership incentive. That's gone forever. One time bump can't replace that money lost.
A guy with a monthly 10k salary with a full AIP should see about 1.5k per month increase????if 17% equaled 2 months salary what will the 10% relate to??? About 1.25 months???? I did not see that in the presentation
Under the old calc. A 100% MIP at 10% would equate to an old 1.2 MIP factor times monthly salary.A guy with a monthly 10k salary with a full AIP should see about 1.5k per month increase????
Under the old calc. A 100% MIP at 10% would equate to an old 1.2 MIP factor times monthly sal
Yes, from that POV you are correct….. they are now obligated to pay that going forward!!!!The MIP was a bonus. It’s been damn near nothing to a nice bonus like the last 2 years. It’s no longer looked at as a reward for a nice job, it’s part of your salary. They’re required to give it to you every month, that’s a raise
A guy with a monthly 10k salary with a full AIP should see about 1.5k per month increase????