A Note From McInnes Cooper January 10, 2013

Answer to your questions

1. All class members would still be getting clawed back...much more in the future then what the firm would be deducting.
2. I learned a long time ago, whatever you feel with regards to retribution, throw your feelings out the window when it comes to law. Because legislation, case law and jurisprudence contain much more power then ones emotions. How can one assumptions about being cut off at 55, these are issues you or others would have to deal with on an individual basis. The law is what it is, you nor I are able to change it. So if I lost my job at 55 do I ask the company to pay me till I'm 65 because I worked so hard for them in the past? Nothing is given in this world, you have to fight for it.

Answer to P.S I am getting nothing. I am not part of the clawback. When I released out of the service my file never left the base, I should have been a 3b but I was shuffled out the door really fast, I should have gotten sisip but I didn't. I was angered to find out but got proactive for the future in my life. I wish I was part. Who knows maybe I will engage in a lengthy battle with Sisip. But right now I need to go forward not backwards and build up anger with regards to being wronged and hurt and pissed off at life. Instead my gratification is helping others. Nothing is given in life, but it sure as hell can be taken away.

Supreme out

Maggie?

Maggie... so my last example was compounded? Damn

So Maggie you just add the amount, say 5 percent which on 10000 is 500, so in peters example, you have 5 years at 500 interest plus 3 years at 3 percent 900 dollars Han add just the interest amounts together which would equal 3400 dollars

DCHD and Navrat... what Peter showed you is simple interest.... if you are owed 10,000 from 2002 you get $500 each year in interest for that money until 2009 when it drops to 3 %($300) per year... the brackets are just to show that different rates apply for different years.

Compounded interest means that you earn interest on the interest as well as the base amount... for 2002 it would be $500 for 2003 it would be 5% of 10,500 (base amount + previous interest) or $525..

It is an annual interest rate... that means you earn that amount of interest for each year that it is owed to you.

I

DCHD, I think the interest is just X% for each year in that bracket.

i.e. 10, 000 for 2003 plus 5% = 10, 500
10, 000 for 2004 plus 10, 500 (2003 money) plus 5% = 21, 525
etc, etc

I think thats how it goes ... maggieNB would probably know best

Yes, that is odd, DCHD, clarification is needed,

SupremeDebater, the problem is 2 fold.

1. Although legal, it is in bad taste to ask for a portion of monies that are OWED to us on an ongoing basis. (since anyone starting SISIP now does not get 7.5% taken off.)

2. Since the calculations are based on speculation of monies to be received, what happens if someone loses their SISIP at age 55? Do they write the law firm and ask for a 7.5% refund for the 10 yrs remaining?

PS. How many yrs are you looking at for retro and still to be paid supremedebater?

Navrat did it not state in the Document or whatever you call it. That it was bracketed by years and not as individual years like Peter has noted????

Which one is it if it is by every years then it would be compounded as well.

I don't think that's the case we need clarification on that.

Peter, your calculations , for that example state 44.3 percent interest, is that interest rate combined for all those years and added on the total?

Some people would probably want that if they are older and where about to lose say 40 - 60K in fees. I would rather the 15% at 4000.00 then to age 60 which would be 20 000.

But if you 65 Supre you don't lose going forward. but lose lots in retro it depends on your situation.

Would you really want future money deducted, some of you from the firm? I realize some are not on sisip. But 15% of the total is fair, what's the problem here?

is that not what is on the table still retro 15% or moving forward 7.5%???

So all of my future payments have been calculated in to the $887m and in reality I will be out 7.5% each month (yes i understand it's being taken out of the lump sum and i don't physically have any more removed .. but in principle i lose it) until my SISIP stops whereas someone who starts SISIP now and is not "Class Member" gets all.

There was a thread a while back with many Vets concerned about this very possibility. ( https://csat.forumotion.com/t852-no-legal-fees-will-be-attached-to-the-without-prejudice-cheques )

This may be a legal thing for you do but it leaves a very bad taste!!! (I wish someone would have said to us in plain english that "Hey guys, FYI, we want a cut of any SISIP mony you make till you are 65)

Yes Peter,
The overwhelming majority of the class want a one time payment on the refund. But look at some that is 65 and is owes back to 1976 one time payment he loses his shirt at 15% and at 7.5% on forward he loses nothing.

Hard to swollow that pill