JCBA Negotiations and updates for AA Fleet

[WeAAsles]

[
$1

They base it on a average of the last 3 years salary.So you work as much overtime as possible the last three years.A friend of the family nassau cop retirement is over $100,000 per year thats outrageous .you talk about my house well I pay almost $10,000 a year in taxes and a lot of that is going to county benefits.They all still have defined plans which the county can't afford

Police departments are a common denominator in the budget challenges facing both Long Island counties. Roughly equal in size—Nassau has 2,189 officers, Suffolk 2,389—the two county police agencies are well remunerated by the standards of larger jurisdictions nationally. Including overtime and other extras, which can add 20 percent to 30 percent to base salaries, cop pay averaged $156,632 in Nassau and $149,242 in Suffolk in 2014. Both of Nassau’s cities, five towns in Suffolk, and 30 villages across the two counties also have their own police departments, with pay at least as good.

Generous police salaries, spiked by overtime, invariably lead to skyrocketing pension costs. In 2014, 603 retired Nassau cops had pensions of $100,000 or more, as did 279 retirees from the Suffolk County department. Dozens more retired cops from city, town, and village departments earned six-figure pension benefits—not including the recently retired chief of Old Westbury’s department, whose unused sick time, vacation pay, and compensatory time brought him a severance check of more than $1 million.


https://www.city-journal.org/html/long-island’s-coming-fiscal-crash-14113.html

 

[Kev3188]

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$1

They base it on a average of the last 3 years salary.So you work as much overtime as possible the last three years.A friend of the family nassau cop retirement is over $100,000 per year thats outrageous .you talk about my house well I pay almost $10,000 a year in taxes and a lot of that is going to county benefits.They all still have defined plans which the county can't afford

Great.

Since you find it so off putting, what are YOU doing to change it?

 

[Albert]

No. See you, me and Bob are going to be quite fine in Retirement Al. We never got on the hook with the Family unit or maybe even worse the never ending Child Support payments. We don't have to worry about maybe even getting stuck taking care of the grandchild too.

Man could I elaborate on ALL those many many many stories I've heard and continue to hear.

There are guys here working into their seventies literally with a cane because their wives are young and need the health insurance. I'm not knocking it it's just not for me.

 

[Albert]

Great.

Since you find it so off putting, what are YOU doing to change it?

The only thing I can do when I retire or before that, is move. There are thousands of people and to a smaller degree companys with jobs fleeing Long Island. Kev my property is 40x100 how big is yours and if it's not too personal what are your taxes

 

[WeAAsles]

Great.

Since you find it so off putting, what are YOU doing to change it?

He "chooses" to live there. Understandable to a degree since NYC is one of the greatest cities in the World and certainly the greatest City in America by far.

But I have to side with Kev on this one Al. You get what you pay for and to live where you do comes at a premium cost.

And don't worry about the Cops man. They'll just keep raising your property taxes to cover it.

 

[robbedagain]

I'm sure swamt will verify or correct.
I believe they have always had just a 401K. Their match is currently 9.6%.
There is currently no reason NOT to include the SW model of compensation in our numbers.

We have heard they don't use SWA for some odd reason

 

[Albert]

Great.

Since you find it so off putting, what are YOU doing to change it?

Oh and the state actually had to take over the county's fiances

 

[WeAAsles]

There are guys here working into their seventies literally with a cane because their wives are young and need the health insurance. I'm not knocking it it's just not for me.

Never was part of my "to do" list either Al.

 

[Albert]

He "chooses" to live there. Understandable to a degree since NYC is one of the greatest cities in the World and certainly the greatest City in America by far.

But I have to side with Kev on this one Al. You get what you pay for and to live where you do comes at a premium cost.

And don't worry about the Cops man. They'll just keep raising your property taxes to cover it.

I was thinking about that the other day my family dragged me into the city for a cruise around Manhattan. It is awesome isn't it

 

[WeAAsles]

We have heard they don't use SWA for some odd reason

I've heard from people that the old AA has said many times over the years. "You want the SWA contract, it's yours"

You can't just Cherry Pick what you like in a contract from all the other stuff you might wind up hating.

 

[WeAAsles]

I was thinking about that the other day my family dragged me into the city for a cruise around Manhattan. It is awesome isn't it

Damn straight!!!!!

 

[Albert]

I've heard from people that the old AA has said many times over the years. "You want the SWA contract, it's yours"

You can't just Cherry Pick what you like in a contract from all the other stuff you might wind up hating.

5-10 years ago SW was hands down better absolutely no comparison but now i'm not so sure, we'd lose a lot of people

 

[FWAAA]

@P. REZ, @FWAAA,

I found a fund, "AGTHX" look it up http://www.morningstar.com/funds/XNAS/AGTHX/quote.html I took all the data they had from as far back as 2000 to today, simulated a 10% contrabution every 2 weeks for the last 17.5 years, Grand total at the end after yearly fees was $175,405.21, making bigger contributions would be better, but you will have money to live on. The chart and data is from a real world scenario and from a real fund.

So you're still arguing over the constant - ok. It's impossible for an AA employee to have $400k in their 401k today. That doesn't affect P Rez' analysis (since the $400k is a constant, common to both hypothetical participants).

Funny how the fund you selected as an example has actually returned over 13% per year since its inception (Nov 30, 1973). There goes your argument that you can't assume a 7% long term rate of return and instead have to assume just 4%. $10,000 invested in that fund on 11/30/73 is worth $2,553,000 today. And that's with the outrageous front-end load of 5.75%. That means for every thousand dollars invested in that fund, the managers swipe $57.50 off the top. That puts your investment in a big hole - good thing that fund has returned over 13% per since to help make up for that initial theft.

We could both be a-holes and cherry-pick periods to prove the point, but why do that? Anyway, over the past 10 years, your example fund has returned over 7% per year.

 

[Kev3188]

The only thing I can do when I retire or before that, is move. There are thousands of people and to a smaller degree companys with jobs fleeing Long Island. Kev my property is 40x100 how big is yours and if it's not too personal what are your taxes

About 1/3 of that.

Since you think your only option is to move, why haven't you packed yet?

 

[Albert]

About 1/3 of that.

Since you think your only option is to move, why haven't you packed yet?

Family and friends still close to formers G/f kids but the biggest reason is I'm a pussy