Originally Posted by
Ace McCoy
What is the definition of 100% retro?
If a 12 year captain ($245 now) gets a raise to $317 (TA rate)...an increase of $72 per trip and credited say 3000 TFP since September of 2020. Would 100% retro be?
3000 TFP times $72 TFP?
Or is that not how it works?
let's assume a yearly wage of 200k and a 20% raise, with 4% per / yr after.
2021 - 200kx20% = 40k (2021 value = + 40k)
2022 - 240k x 4% = 9.6k (2022 value = + 49.6k)
2023 - 249.6 x 4% = 10k (2023 value = + 59.6k)
So for 3 yrs without a raise of 20% and 4% per, you have lost 149k
15% NEC in 149k = 22.5k
Total loss over 3 yrs = 171.5k
Pays to slow walk a contract, drag it out and make you pay for your own raise. I didn't add 2020, but if you did that would put the number even higher.
When you look at your retro check, just think about what it cost you.