Originally Posted by
kwri10s
Just because the modeler does something does not make is correct. That's why there is a big legal disclaimer. The modeler is designed to give guys an idea of what they are proposing. It looks like the numbers have been slanted to make the model look better to anyone using it. For example, since your portion (or pancake) is based on what percentage of the total you earn, there is actually no way to model your estimated return unless you make some assumptions. It looks like they have assumed that everyone earns BLG for their seat. That way they can give you an "idea" of what your pancake might be worth. Since very few actually only earn BLG, if you do then you will get many less pancakes then the modeler is projecting.
The union says they are using the IRS 401 earnings cap in the videos. The guy from Cheiron says that they are using the IRS 401 earnings cap in the videos. The modeler is using the current IRS 401 earnings cap and then forecasting a yearly increase.
You are saying there is no earnings cap because there isn't one given by the IRS regarding defined benefit plans. The IRS doesn't say that the plan can't have one, only that the IRS doesn't have one.
So, because you say there isn't one, we should ignore what the MEC, Cheiron, and the modeler that the union put out says?
By the way, I am against this plan. I can't tell if you are for it or not.