Originally Posted by
gatorhater
I believe ‘cash over cap’ commonly refers to the calculation when leaving out the sick buyback.
I’m your example all the cash you receive comes from your sick buyback.
What we want is cash for the 8% over 55k if we set our contribution too high.
What I want is cash over the cap because the company contribution puts us over the cap without having to invest our own money. For example a 16%-18% B-fund would put many in that situation.
And I agree the money you're getting back is because of the excess sick bank. However, if you're the healthy type it is a nice benefit.
Originally Posted by
USMCFDX
This exactly part of the problem we currently have. We DO NOT HAVE cash over cap. Many here have no idea how our retirement numbers work.
That is a sick hank payout and all you post describe is where it can go. I will never receive this payout and I will get zero dollars at retirement from the .50 payout on the dollar.
Yes I know which is why I said "sort of". I posted this because so many of our members don't know about this provision in the contract.
Not throwing any stones but next time I hope we all vote NO. Contract 2015 was a huge failure in many areas. We need to be united. We need the younger folks we are currently hiring to understand how bad we took it and hopefully next time around we can tell the company NO.