This was much more fun than your average charity walk as we were able to gain admission to the zoo and all of its attractions for the day because we participated in the walk. My wife and two kids had a wonderful time as did the rest of us. It is always exciting for me when I get to see my colleagues and catch up. Raising money for a good cause just made it an even more powerful experience.
Neither Joel Klein, Michael Bloomberg, Dennis Walcott, Carmen Farina, or Bill de Blasio could not kill the spirit of what made Jamaica High School a special place for so many students and professionals.
Notice "Reopen Jamaica High School" is our team name. If there is some justice in this world, Jamaica High School will be reborn.
Thanks to everyone who attended and also those who contributed to the cause, including Norm Scott, but couldn't make it and those who left early and couldn't get in the photo.
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| Jamaica HS at Bronx Zoo Dystonia Walk |
I think we have an issue with the retro pay that nobody mentioned. Because the target will be moving, and as they are paying us, the retro owed is going up, not down, the 12.5+12.5+25+25+25 doesn't work out. Lets say someone is owed $24K as of this first payment, they get 1/8 which is $3K, leaving a balance of $21K. Over the next 2 years, lets say they are owed another $10K, thats 31K. 2017 payment of 1/8 is approx $3,875, leaving a balance of approx $27K. Now they accrue another year of retro from 2017-2018, lets say its 6k, total balance is $33k. Now we have the 3 payments in 2018-2019-2020, of 25% each. 3 payments of approx $8,250, that equals $24,750, meaning that person missed out on about $8k of pay. Because the amount is going up, those last 3 payments must be 33% each, not 25% each. They stupidly, as far as i know, simply added the percents up to get 100%, but it is incorrect in this situation.
ReplyDeletei believe that is called compounding. Imagine if there was interest.
ReplyDeleteI dont think we are getting 100% of the money. It seems like they blindly figured out how to get to 100%, but didnt realize that for the fist time in history retro payments are going up even as they are being paid. I think it should be 12.5 3 times, then 33 3 times. The way this is negotiated, I think we miss a portion because the percents are wrong.
ReplyDeleteI agree with Jeff. The math isnt working, they are shorting us.
ReplyDeleteThis isnt interest, its a mistake. This needs to be examined and changed.
ReplyDeleteThere is no interest.
ReplyDeleteI know. Im saying we are never seeing all of the money we are owed.
ReplyDeleteJames,
ReplyDeleteYou are missing the point. WE ARE NOT BEING MADE WHOLE. We will not get all the money owed. There is a flaw in how this was set up.
I can't figure it out so I just don't know. We'll ask a math specialist when we see the 12.5%.
ReplyDeleteFrom what I understand, the entire amount will be calculated from year 2009/2010 to 2015, and that will be 100%. If you continue working, that won't raise the amount in any way. When you receive your payment, supposedly this month, it will be the first time members have a clue of what the entire amount is i.e. 12.5% of the total, I'm really curious if individuals will have the wherewhithal, absent of union or doe help, to understand if they have received there actual payment.
ReplyDeleteSome of the commentators math seems irrational maybe HE's in Union caucus. Perhaps they should have protested so passionately against the actual signing of the contract, instead of trying to do bad math afterwards.