Scary Math, try it for yourself!
here is some math from oahkanswers.com. You now currently receive $2.76 per hour upto 2080 hours = $5740.80. Now they are offering a 401 with 6% contribution bases on the same 2080 hours at $20.21 per hour = $2522.21. The pension has always been part of your total compensation package. Where does the rest of the $3213.59 go. Is that included in the raise you get? Not hardly I am sure it will go into the VD fund. Not to mention that now you get to pay for your medical too. And don't forget that now you get 1/2 day sick leave a month and with the new plan it will take your about 4 months to accrue a sick day. These are all benifits that you have negotiated as part of your compensation package. How much of a raise are they willing to give to cover everything they want to take back?
To add a comment on that, I dont see how that excess can go in their fund..haha, cause it never comes out to begin with.....They say you are getting an: 11% to 12.5% increase so lets use that and the max benifits we can do...(to get your "compairable plan")
11% Increase
6% matched for pension= 12% pension
2% Max medical
That leaves you with a 3% increase in wages....dont forget...with crappy medical and 401K
How long is this 3% increase for...it doesn't say so I am going to (from being screwed by people in the past) assume its for the life of the contract. Lets also assume this contract would be for 3 years. So for three years you would only have a pay increase of 3%? Lets look at some things that have happened in the last couple years:
State minimum wage increases:
2005 2.6% @ 7.35
2006 3.8% @ 7.63
2007 3.9% @ 7.93
Average Increase
2005-2007 was 3.4% PER YEAR
So your saying that WE only get a 1% increase in pay PER YEAR? :
Do you wonder why it seems that in the last couple years you have been keeping less and less of your paycheck?? Well look what would have happend IF we kept up with the minimum wage increases since the last contract (keep in mind these percentages are figured by the actual increases in price for basic services in the state of washington) All these numbers are from the L&I websites except for the OHFL happyland estimate below.
This is an estimated BASE HOURLY RATE USED FOR 2004
BASE RATE 20.41/HR
2005 2.6% @ 20.94
2006 3.8% @ 21.74
2007 3.9% @ 22.59
Boy wouldn't that have been nice?
Nice increases, fair, kept up with the price of basic washington services... Come on.. the price of oil alone per barrel in that same time frame has increased 168% thats not even what we see at the pump, dont think about affording a new home, we have to keep up (oh wait thats right now days you can get that nice interest only loan). Now some may say that we cant compair our wage increases to the percentages of minimum wage...but isn't it fair? We are in a skilled trade, not working at McDonalds, you cant say that I was worth more to your company based on percentages in 2004 than I am now, can you? So really, I believe we have a lot of catching up to do in the wage department cause were already behind, but now they want to do us in for the next contract duration too? This just hasn't been adding up to me, now that ive been doing a little research I realize why I've had less and less money over the years and its making me even more bitter. Check it out for yourselves, its scary. We are going to be heading for tough times unless we demand better. ED AND DAVE:
you have any comments? Explinations? PLEASE feel free to post here, we know your looking.