See, working for an HR firm that handles benefits all the time I have a completely different read on that. My interpretation of that line is this:
You get a fixed salary based on the contract. Let's say that salary is $50,000 per year. Based on the text of the Retirement Benefits section, the state contributes 5% of your base salary, or $2,500 per year, to your retirement fund. This does *not* come out of your salary and does *not* impact your taxable wages. Additionally, you do *not* have to contribute *one dime* to the retirement plan to qualify for this 5%. Now, I'll say that my wife agrees with your interpretation. The only way to really see who is right is to analyze the check stub of a Wisconsin state employee. Until Later! C. Hatton Humphrey http://www.eastcoastconservative.com No trees were killed in the sending of this message, but a large number of electrons were terribly inconvenienced. On Sat, Feb 26, 2011 at 4:46 AM, Eric Roberts <[email protected]> wrote: > > Right...5% of your earnings go into the pension fund instead of being paid > directly to you. That is different than how a 401k works, for instance, > were you may have 5% of you wages going in plus your employer also matches > it with 5%. So this is in lieu of getting paid 5% more. It's essentially a > forced savings plan. > > -----Original Message----- > From: C. Hatton Humphrey [mailto:[email protected]] > Sent: Friday, February 25, 2011 20:04 > To: cf-community > Subject: Re: Walker, Wisconson Lier > > > Let me break down my understanding of that line and tell me where you > disagree: > For the duration of this Agreement, the Employer <- That would be the State > shall contribute on behalf of the employee five percent (5%) of the > employee's earnings paid by the State. > > That means that the State pays 5% of your gross wages into the pension fund. > Do you have a different interpretation of that? > > Until Later! > C. Hatton Humphrey > http://www.eastcoastconservative.com > > No trees were killed in the sending of this message, but a large number of > electrons were terribly inconvenienced. > > > > On Fri, Feb 25, 2011 at 7:59 PM, Eric Roberts > <[email protected]> wrote: >> >> by the State." > > > > ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Order the Adobe Coldfusion Anthology now! http://www.amazon.com/Adobe-Coldfusion-Anthology/dp/1430272155/?tag=houseoffusion Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:334737 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/groups/cf-community/unsubscribe.cfm
