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Redesigned mip
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<blockquote data-quote="mipexample" data-source="post: 51924"><p>MIP improvement example Where have I missed the incentive? </p><p> </p><p> </p><p>2 unit manager at $ 6,000 per month times 12.5 = $75,000 base salary </p><p> </p><p>Last year MIP was 2.4 times 2 units = 4.8, plus 1.0 additional incentive for keeping way too many eggs in the UPS basket = 5.8 times $6,000 = $34,800. </p><p> </p><p>2004 total taxable income = $109,800 </p><p> </p><p>2005 </p><p>$6,000 times 2.5 percent raise = $150 </p><p> </p><p>$6000 + $150 = $6,150 month </p><p> </p><p>12.5 times $6,150 = $76,875 base salary </p><p> </p><p>2005 MIP target based upon unknown goals is 2.0 </p><p> </p><p>2.0 times 2 units = 4.0, plus 1.0 for keeping way too many eggs in UPS basket = 5.0 </p><p> </p><p>5.0 times $6,150 = $30,750 </p><p> </p><p>Take away deferred possible payment of 40% of MIP - $12,300 </p><p> </p><p>MIP total including deferred payment is $30,750 - $12,300 deferred possible income = $18,450 MIP received in real dollars. </p><p> </p><p>$76,875 base plus $18,450 MIP = $95,325 taxable income for 2005 </p><p> </p><p>$75,000 base plus $34,800 MIP = $109,800 taxable income for 2004 </p><p> </p><p>2004 income of $109,800 times 87% is $95,526 </p><p> </p><p>2005 income is a 13% reduction </p><p> </p><p>Even when one considers to deferred possible income for 2005 the total income is $2,175 less than 2004 including the 2.5 % raise </p><p> </p><p>Grade 18 positions are being eliminated. </p><p> </p><p>Possibility for promotions is being reduced significantly. </p><p> </p><p>Grade 16s will assume at least some of the grade 18 responsibilities. </p><p> </p><p>Benefit cost for part of what I had at no cost a few years ago has increased significantly each year since the improved plan was implemented for management. </p><p> </p><p> </p><p>Where have I missed the incentive? </p><p> </p><p>Work harder, do more, for less?????????????</p></blockquote><p></p>
[QUOTE="mipexample, post: 51924"] MIP improvement example Where have I missed the incentive? 2 unit manager at $ 6,000 per month times 12.5 = $75,000 base salary Last year MIP was 2.4 times 2 units = 4.8, plus 1.0 additional incentive for keeping way too many eggs in the UPS basket = 5.8 times $6,000 = $34,800. 2004 total taxable income = $109,800 2005 $6,000 times 2.5 percent raise = $150 $6000 + $150 = $6,150 month 12.5 times $6,150 = $76,875 base salary 2005 MIP target based upon unknown goals is 2.0 2.0 times 2 units = 4.0, plus 1.0 for keeping way too many eggs in UPS basket = 5.0 5.0 times $6,150 = $30,750 Take away deferred possible payment of 40% of MIP - $12,300 MIP total including deferred payment is $30,750 - $12,300 deferred possible income = $18,450 MIP received in real dollars. $76,875 base plus $18,450 MIP = $95,325 taxable income for 2005 $75,000 base plus $34,800 MIP = $109,800 taxable income for 2004 2004 income of $109,800 times 87% is $95,526 2005 income is a 13% reduction Even when one considers to deferred possible income for 2005 the total income is $2,175 less than 2004 including the 2.5 % raise Grade 18 positions are being eliminated. Possibility for promotions is being reduced significantly. Grade 16s will assume at least some of the grade 18 responsibilities. Benefit cost for part of what I had at no cost a few years ago has increased significantly each year since the improved plan was implemented for management. Where have I missed the incentive? Work harder, do more, for less????????????? [/QUOTE]
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