Figured I'd share.

[Woods74]

So, I worked my *** off as a unionized carpenter, going through apprenticeship and working as a journeyman for a couple years, then the economy crashed and I lost my crap. Haven't worked steady for a few years. We've heard this story before. Wah.

So, looking on the bright side, I was hoping I had enough hours to vest in retirement which is 5 years, 1000 hours per year, or a combination there of, and the chance to get each year, matched with another year to make up the spread without loosing the chance to vest. 1 year on, 1 year to catch up If you haven't gained 1000 hours.

Right on the verge of the time I put in, vs the time I've had off, I called up the trust and asked them how close I was, and I was informed I was .5 years shy of being able to vest.

Better luck next time!

So, I was cordial and took the news like a champ, and figured I was gonna move on like a wounded boss.

So, I get a letter I disregard a few months ago from the trust, trusting it telling me in writing my negative fate. I don't open it, and toss it in the trash...

Today I get another, and reluctantly I open it, and guess what?

I have 6600+ hours in the bucket, and the words under my meager income should choose I retire right now, says...


'You are vested in this plan.'


*Does happy dance*


Work is picking back up in my area, and I'll be on the hunt soon, hoping to play the politics, and manage my money better this time and not be out in the cold next time work slows down...

I hope others have the same positive luck, this last ride was a rough one!


PS: I don't feel that I trust a pay out, and I don't plan on relying on this, but it's a good feeling I wasn't left out in the cold for the time I put in.

 

[chryslerfat]

That sounds good. After 14 years with the school I work for I am told they are privatizing so my job ends in June. I understand to privatize if they are saving money but it is costing the district almost a million more to do it. Hard to understand.

 

[RustyRatRod]

So that's good news. Congrats.

 

[Frankie]

That sounds good. After 14 years with the school I work for I am told they are privatizing so my job ends in June. I understand to privatize if they are saving money but it is costing the district almost a million more to do it. Hard to understand.

Fat, usually when something is privatized it's done to save money, and have a preset annual cost. That cost includes everything, not just wages paid. For example, it includes the wages paid to the people who are replacing you, all of the administrative costs, all of the operational costs, and all of the misc. costs.

It also reduces the size of the staff needed to administer that money. Much of the staff, once needed to administer to the school's operations, can now be done by the bank, instead of a school employee or team of employees.

You'd also need to know the scope of the privatization agreement. Who is responsible for the up keep of the buildings, the utilities the buildings use, etc.

Usually, while salary costs might be higher, the entire package when viewed over the full scope of the arrangement results in a net savings to the people paying the bill.

Have you thought about applying for a job with the company that is displacing you. Usually they are pretty good at hiring people who are familiar with the environment they've assumed. Be aware that your salary, and your benefits package would probably be different, though.

I understand that it sucks being displaced, but, you might want to take advantage of an opportunity to remain employed in your field, at least until you find something else, if that is what you ultimately decide. TO my way of thinking, anything beats unemployment, even if it's something temporary, by my choice, or theirs.

 

[BrianT]

Congrats on the news and also that work is picking back up! My wife got a decent job last week after being unemployed for 53 weeks. It forced some lifestyle changes on us, that we are not going to return to. We had a savings cushion built up, but it was being depleted pretty fast. Now we have to rebuild our savings and work on paying off our mortgage. I don't want to ever get caught with our pants down like that again.

 

[bobscuda67]

So, I worked my *** off as a unionized carpenter, going through apprenticeship and working as a journeyman for a couple years, then the economy crashed and I lost my crap. Haven't worked steady for a few years. We've heard this story before. Wah.

So, looking on the bright side, I was hoping I had enough hours to vest in retirement which is 5 years, 1000 hours per year, or a combination there of, and the chance to get each year, matched with another year to make up the spread without loosing the chance to vest. 1 year on, 1 year to catch up If you haven't gained 1000 hours.

Right on the verge of the time I put in, vs the time I've had off, I called up the trust and asked them how close I was, and I was informed I was .5 years shy of being able to vest.

Better luck next time!

So, I was cordial and took the news like a champ, and figured I was gonna move on like a wounded boss.

So, I get a letter I disregard a few months ago from the trust, trusting it telling me in writing my negative fate. I don't open it, and toss it in the trash...

Today I get another, and reluctantly I open it, and guess what?

I have 6600+ hours in the bucket, and the words under my meager income should choose I retire right now, says...


'You are vested in this plan.'


*Does happy dance*


Work is picking back up in my area, and I'll be on the hunt soon, hoping to play the politics, and manage my money better this time and not be out in the cold next time work slows down...

I hope others have the same positive luck, this last ride was a rough one!


PS: I don't feel that I trust a pay out, and I don't plan on relying on this, but it's a good feeling I wasn't left out in the cold for the time I put in.

Hey, same here! Congrats on your being vested.
I been in the trade for 38 years and looking at retiring this year. I have a appointment with my CPA this Thursday to see if I can do it. I'll be 58 in September and I won't be able to work till I'm 62, which is the normal retirement age. Even though I'll take a hit on my monthly amount, it might be worth it.

 

[chryslerfat]

Fat, usually when something is privatized it's done to save money, and have a preset annual cost. That cost includes everything, not just wages paid. For example, it includes the wages paid to the people who are replacing you, all of the administrative costs, all of the operational costs, and all of the misc. costs.

It also reduces the size of the staff needed to administer that money. Much of the staff, once needed to administer to the school's operations, can now be done by the bank, instead of a school employee or team of employees.

You'd also need to know the scope of the privatization agreement. Who is responsible for the up keep of the buildings, the utilities the buildings use, etc.

Usually, while salary costs might be higher, the entire package when viewed over the full scope of the arrangement results in a net savings to the people paying the bill.

Have you thought about applying for a job with the company that is displacing you. Usually they are pretty good at hiring people who are familiar with the environment they've assumed. Be aware that your salary, and your benefits package would probably be different, though.

I understand that it sucks being displaced, but, you might want to take advantage of an opportunity to remain employed in your field, at least until you find something else, if that is what you ultimately decide. TO my way of thinking, anything beats unemployment, even if it's something temporary, by my choice, or theirs.

Thank you Frankie. I will be applying with the replacement company. They will be paying more from what I am told. I understand what you say of the cost and that is why I dont understand this. The schools will continue the ownership of the buses, paying for all parts, fuel and buildings, tools, and upkeep. The new company is only supplying personel and thats where it ends. That is why they are showing an increase of over half a million by doing this. Trust me I ran a truck garage for 5 years before going to work here. Running the numbers just dont work if you are increasing the budget.

Under the new company we are also going from 3 supervisors to 7 and the board did question that cost. It is really stupid to do if there is no cost saving and an increase even with cutting legacy cost. The other districts I have talked with dont understand what the man has convinced the board to agree with. They agree with me once the voters get wind of a cut of over 1/2 million to teachers increasing class size then spending all that was saved on privatizing hurts the students and will probably create a revolving door for employees.

 

[Woods74]

After doing some digging, I found out I lost the retirement plan, but employer contributions are still there, which is 60 cents on the dollar, and so are health benefits, but the catch is I have to have 5 years total credits to get them even if I never touch the trade again!


This is a good thing, because the way these union pensions run always underfunded, I don't want to rely on their skills to protect me when I'm older. I have zero control on what they invest in, or news of what they invest in. By that time, no offence, the baby boomers will probably have wiped it out anyway.


If I can survive another 5 years of it, I'll be happy, just getting into my mid 30's take some schooling, have some bankroll and go a little further up the food chain.

I'm not the first, nor will I be the last. Just another +1 for taking control of personal security I guess.

 

[Bigdummy]

Congrats

 

[Frankie]

Thank you Frankie. I will be applying with the replacement company. They will be paying more from what I am told. I understand what you say of the cost and that is why I dont understand this. The schools will continue the ownership of the buses, paying for all parts, fuel and buildings, tools, and upkeep. The new company is only supplying personel and thats where it ends. That is why they are showing an increase of over half a million by doing this. Trust me I ran a truck garage for 5 years before going to work here. Running the numbers just dont work if you are increasing the budget.

Will the board be leasing the buses to the new company, and keeping that responsibility under county auspices?

Under the new company we are also going from 3 supervisors to 7 and the board did question that cost. It is really stupid to do if there is no cost saving and an increase even with cutting legacy cost. The other districts I have talked with dont understand what the man has convinced the board to agree with. They agree with me once the voters get wind of a cut of over 1/2 million to teachers increasing class size then spending all that was saved on privatizing hurts the students and will probably create a revolving door for employees.[/QUOTE]

Geez! Let's hope not. I find this to be a very interesting conversation. If there is no overall cost savings, do you have any clue as to the politics behind a move like this?
Also, will the board be leasing the buildings to the contractor? As n a lease with or without maintenance?

 

[Woods74]

Geez! Let's hope not. I find this to be a very interesting conversation. If there is no overall cost savings, do you have any clue as to the politics behind a move like this?
Also, will the board be leasing the buildings to the contractor? As n a lease with or without maintenance?

My guess is short time gains, at the cost of the employee.

 

[Frankie]

My guess is short time gains, at the cost of the employee.

I get that, but who is making that short term gain. If the cost of operation is increased, it's pretty certain that the windfall isn't going to the county, UNLESS the goal is to bust a union, or rid the faculty of unproductive teachers, and staff. If that's the case, there are sure less costly, and less intrusive ways of doing that.

Without a lowering of annual costs to the county, none of this makes sense.

 

[adriver]

I visited this union hall in 2005 for the "action".
I did not work for Boeing, but I was there. Maybe this is the one you use?
Just a bit of trivia.
http://renton.patch.com/listings/renton-carpenters-local-1797


The devil is always in the details of "privatization." Follow the money. Someone is usually going to try and make a profit that doesn't show up in the proposal.
Maybe someone's buddy.
It's been tried in industries that are not designed to make a profit and it flops.

 

[chryslerfat]

Will the board be leasing the buses to the new company, and keeping that responsibility under county auspices?

No the buses will not be leased to the private company. The district is also responsible for cost of damage and liability insurance.

Geez! Let's hope not. I find this to be a very interesting conversation. If there is no overall cost savings, do you have any clue as to the politics behind a move like this?
Also, will the board be leasing the buildings to the contractor? As n a lease with or without maintenance?

The district is not leasing the buildings and is still responsible for maintaining them. We were told by the superintendant that he does not want to deal with it as the district he came from did not offer busing. That is the only answer he gave us. He said he knew there would be no cost savings and only increase in cost. They just passed a bond so all 139 buses are being replaced under the bond. Like I said it makes it hard to comprehend.

 

[chryslerfat]

I get that, but who is making that short term gain. If the cost of operation is increased, it's pretty certain that the windfall isn't going to the county, UNLESS the goal is to bust a union, or rid the faculty of unproductive teachers, and staff. If that's the case, there are sure less costly, and less intrusive ways of doing that.

Without a lowering of annual costs to the county, none of this makes sense.

Three years ago they privatized the drivers and in doing so it cut all benefits and they have trained and lost 258 drivers. He thinks this new company can maintain drivers but they offer the same. Part time job ,hourly wage no bennies. I dont see them suddenly being able to keep drivers. They will start to lose mechanics now by throwing us in on it. We have 7 mechanics and are self supervised so no supervisor wage. 4 are retiring and us 3 left are looking for another district that has not done this.