Retro? (UPDATE)
In the CO Book and on the AdMin Fax messages, the Deferred Comp people are letting everyone know that if they want to apply a portion of the retro check to their accounts, they have to complete some steps and get a check to them by 19 December...if we're hearing things correctly.
That would seem to mean that the retro has to be distributed on 16 December, right? You can't write a check against money you don't have.....unless you're looking to rack up the overdraft fees.
UPDATE: A couple people say we're wrong. That the paperwork has to be completed long before the check arrives. We're not exactly near a Department computer to read the AdMin fax messages as we're ...well, you know. Rahm isn't letting that money loose if he can use it to mess with people.
That would seem to mean that the retro has to be distributed on 16 December, right? You can't write a check against money you don't have.....unless you're looking to rack up the overdraft fees.
UPDATE: A couple people say we're wrong. That the paperwork has to be completed long before the check arrives. We're not exactly near a Department computer to read the AdMin fax messages as we're ...well, you know. Rahm isn't letting that money loose if he can use it to mess with people.
Labels: info for the police
posted by SCC at 12:01 AM
26 Comments:
Totally incorrect. We are getting the check in 2015. The retro is eligible for 2015 deferred comp. Just have to have paperwork in by dec.19.
Retro? why don't you ask Darth Emanuel?
I thought we have to get the form back by Dec. 19th? That means they will be awaiting a January retro. They will have all the forms ready. yes, no?
The way I interpreted it , nationwide needs the form by the 19th to be able to deduct and deposit funds from the retro check into your account. Therefore if anything maybe the 22nd but I doubt the 16th.
but it also says that you can only defer the maximum amount in the year you get the check which it says is in 2015
Would it be smarter to prepay my mortgage which is 3.25%?
Rahm is just trying to confuse you.
He loves to keep his minions confused.
Now, kees me you fool!!!!
Glitch in the system. Retro end of january. They conducted a test. Guess what, the test failed. City that works my ass.
We didn't get our either
Deferred comp representative told me check comes January 26th
I heard 09 Jan 15?
I love it.
All you shortsighted schmucks voted yes to the contract because the retro $$$ was the be-all-end-all to you.
Can't figure out how not to live paycheck to paycheck.
Can't figure out how to budget your cash.
Can't figure out how to live within your means.
I guess it's only natural to follow that you can't figure out when the check has to arrive by or how to make formal inquires for clarification on this Retro/Def Comp "head scratcher".
Tip: that Retro check will be here long before you see 400 police cars the city "intends to purchase" this year.
The Disability Dean & Tiny Dancer Symphony played you chumps like fiddles.
Suckers.
Im sitting on the edge of my seat waiting for my 5g...cant wait
I've made changes to deferred in the past & they said to give it 3 pay cycles, so I'd assume it'd be similar.
Defer the income until there's a higher tax rate! That way the city can use you as a tool
Oh i sure hope I get that retro by christmas, I already spent it. Than if I work V.R.I. all my days off I can piss away more money, and buy my kids I don't spend any time with more crap. The best part is Rahm will never have to hire more guys to pay into our pension. We can solve all his problems and think were getting over on him. Amazing when I was a kid I respected police thinking they were smart, I had to become one 24yrs ago to realize just how lazy and stupid most , not all, really are. Yes 24yrs ago so I do have the seniority to work any special, I just figured out a better way that dose not hurt our pension, and help the politicians that are trying to screw us.
Anonymous said...
Oh i sure hope I get that retro by christmas, I already spent it. Than if I work V.R.I. all my days off I can piss away more money, and buy my kids I don't spend any time with more crap. The best part is Rahm will never have to hire more guys to pay into our pension. We can solve all his problems and think were getting over on him. Amazing when I was a kid I respected police thinking they were smart, I had to become one 24yrs ago to realize just how lazy and stupid most , not all, really are. Yes 24yrs ago so I do have the seniority to work any special, I just figured out a better way that dose not hurt our pension, and help the politicians that are trying to screw us.
12/06/2014 03:22:00 PM
______________
This person makes sense. We lost a good amount of tuition reimbursement too. That retro check will be gone in a few weeks. The officers with aspirations to go to a respectable school will pay a lot more because of the diminished tuition benefit.
I don't need it,they can keep it,when it comes it comes,I just do this for fun,what you say....mmmmmmm, we should be able to stay home and get payed provided we stay out of trouble,if and when we do get in trouble it's back to work,I finally figured it out,it called retirement,it happened for me and it can happen for you,hang in there guys and gals,it's a hell of a thing to look forward to,and don't let anything prevent you from getting there!
Would it be smarter to prepay my mortgage which is 3.25%?
12/06/2014 05:35:00 AM
No. Never is it an investment to prepay a mortgage, especially at that rate.
Just wait until you see your medical co'pays.
Anonymous Anonymous said...
Oh i sure hope I get that retro by christmas, I already spent it. Than if I work V.R.I. all my days off I can piss away more money, and buy my kids I don't spend any time with more crap. The best part is Rahm will never have to hire more guys to pay into our pension. We can solve all his problems and think were getting over on him. Amazing when I was a kid I respected police thinking they were smart, I had to become one 24yrs ago to realize just how lazy and stupid most , not all, really are. Yes 24yrs ago so I do have the seniority to work any special, I just figured out a better way that dose not hurt our pension, and help the politicians that are trying to screw us.
12/06/2014 03:22:00 PM
Please enlighten us grasshopper! What is the better way? When you can take the pebbles from my hand, it will be time for you to leave!
City will not release the retro one day sooner that it is required. Am I required to pay my $450 water bill? How about if I live in Robbins or Dolton?
On prepaying your mortgage if you are not putting or have plans to put that money to work for you then its is definitely smarter to prepay. You can definitely find a better use in todays market, Its simple math if you can put it to work for you at 6% interest your making 2.75% on that money. Depending on your age makes a big deference on how aggressive you should be.
We had to have our paperwork in to the Defered Comp people about 3 weeks before the checks came out to us. They will withdraw the money just like they do on your regular pay checks. Before taxes.
So if it is due in by the 19th expect the checks around mid to late Jan.
We at CFD got our check a little over a month after we got our raises.
You are reaLLy stupid if you put your retro monies into def comp. with the 2016 elections coming very fast. You know the democrats will cause all kinds of havoc in the stock market if they need too. Im waiting till after election, I'm going to throw into fixed when it starts to tank.
Just my TWO cents.
Look for your check on January 26th.
Oh wait, there will be no retro check because Mike Shields screwed up. That's all I heard from Billy the beat guy from 022. Surely he couldn't have been full of shut and just saying all that in a ploy to get himself elected to the Presidency and dump Shields. Say it ain't so Billy.
All Bullshit from the City Wide Team.
What else did the City wide team lie about, possibly a phoney arbitrators decision ???????
Was Shields right. You know that a phoney arbitrators decision is a felony. Because Dougherty and company illegally bounced Shields out of office,Ted Street ( already out because of his part in it) and the State Lodge along with FOP7 are
Going to give Shields a boatload of cash. Thanks again Billy,Mark, Kevin,Aguilar, Gorman,Saul and Frank. You and only you are responsible for costing each and everyone of us a lot of money. I'm
Talking hundreds of thousands. You heard it here first on this blog.!
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