SISIP COLA RETRO (Assorted Topics)

OMG! I SAY AGAIN ! I know VAC approved marijuana but maybe they dished out too much on this site! LOL! These figures of 10000 to 20000 are pure bull shit and I challenge anyone to put the figures up here to disprove me. I am in appeal with Sisip ltd and was just notified that I have been reinstated further to this great news I asked the law firm about these CSAT figures regarding cola and the almost choked to death on the phone. There maybe the odd person who gets a couple grand but 95 percent of cola payments are in the 100-1000 range and if you don't believe that then CALL SISIP and they will tell you the figure! MC only deducts their fees and mail it out. I feel everyone on here will believe they are getting many thousands and will end up in the whole. Never believe phantom calculations or voodoo economics.

I had these for a while and cant remember where I got them but im pretty sure they are accurate . these would be the SISIP cola rates.

1985 --- 2.00%
1986 --- 2.00
1987 --- 2.00
1988 --- 2.00
1989 --- 2.00
1990 --- 2.00
1991 --- 2.00
1992 --- 2.00
1993 --- 2.00
1994 --- 2.00
1995 --- 2.00
1996 --- 2.00
1997 --- 1.50
1998 --- 1.75
1999 --- 0.75
2000 --- 2.00
2001 --- 2.00
2002 --- 1.90
2003 --- 2.00
2004 --- 1.60
2005 --- 2.00
2006 --- 2.00
2007 --- 0.90
2008 --- 2.00
2009 --- 2.00
2010 --- 0.25
2011 --- 2.00
2012 --- 2.00
2013 --- 1.25

propat

trooper you are exactly right the more info we get the better.

propat

Recon thanks buds we all do appreciate that and we do appreciate you example it maxes it easy for some to extrapolate a guess on theirs if they are roughly in the same boat as you.

propat

I have done the rough gross vs net calculations for guys I know here over coffee ore a drink of various tastes but the calculations have to be done line by line as year for year due to the compounded nature of the calculations . ie; if they apply the cola calculation on 4000 for the first jan 1st they calculate it and it brings you an additional 960 . then the next year they would have to apply the COLA calculation at 4960 and this keeps happening year after year.

of course you have to subtract the COLA you already had calculated then all the other calculations.

takes some time to do this and with the number of people on here I will not be doing that .

but I can take a quick guess given the number of years and the 2500 deduction and assuming you don't owe SISIP any sizable amount .


id like to throw a blind dart at 5500.00 but for safety im guessing north of 4000.00.

propat

Lot's of talk regarding the COLA payout - I think that's great, Veterans discussion, and helping each other out.
As I read each post, it surely helps me get a better understanding of how things are moving along with the first batch being distributed, and received my some.
The reporting of the outcome from those who have already received theirs - makes it even more understandable - so thanks to all for that.

With respect to Recon's example from page 6, the way in which I read it and understand the number of $150.oo - this amount is his number, and his only.
This becomes clear in his opening remarks when he states " so using myself " his number only.
In his closing remarks he also states ' we will all have a different outcome "

One has to look where the example formula has come from - it came from a member who has received his payout, and was nice enough to share the formula with recon, who was nice enough to share here for all to see.
The formula is fact.

So like recon has said - it is simply a starting point - and this formula has helped me - so I am grateful to him for posting it - and most grateful to all who have given their own input - as it all helps !

im not sure if the law firm is double checking these are not but I have seen the screw up one main retro calculation and one retro calculation . oddly enough for the same guy. so if they are being double checked they are not doing it well.

propat

oh buds you will see a more than 1500.00 that not a dream buds but reality.

propat

I'm not sure how you guy's can wrap your heads around all these different scenerios & come up with a result fitting to the person asking .... but hey ! good on ya , you all must have major'ed in accounting somewhere along the line . I'm just happy to see a simple formula that somehow works for me & hopefully for many others as well .

To all of you with a lot of input & the willingness to jump on here & help everyone , Robbie Royal , Propat , & Bigrex , just to name a few ................

I Salute you !

For Country
retired Army MasterSniper
Dave Fitzpatrick
family of .......7.......get er' done bye's

or ya what bigrex said if you are a 24 month client keeping in mind there would be no cola calculation applied for your first year up to dec 31st.

propat

colklink buds you can expect more than that. you will be happy assuming you are collected SISIP from then till now .

propat

Well Colklink, if they used 2% for COLA in 2004, they would have increased your SISIP by roughly $5/month, when it was supposed to increase by $75/month. So if you were a 24 month client, you COLA adjustment should be $900 - $60 (amount already paid) - 26% (as per the court order) + Interest. Then you subtract 10% for withholding taxes, and 8% for legal fees.

well buds you seem to be in a strange place there because of the date . I mean your date is right on the like . wow. if the large amount they took off in july was for CPPD . I ASSUME the would not be prepared to react on the court order immediately as they have shown they will not lift a finger to prepare for anything until they see the courts order .

now ASSUMING they were prepared they may have still calculated the old way and left the recalculations of the COLA to the team that was hired to do that job.

buds im ASSUMING they would still owe you COLA for that CPPD amount .

but I guess that's not a real answer is it!!!!

frack what a crappy date for that to happen.

sorry buds wish I had a more substantial answer for ya but that's all I got just a lot of fracking assumptions.

propat

Recon, I have no problem with the info you passed along. but there are just too many unknown variables between each case to use a single example. Like Propat stated, the COLA depends on what the persons pre-release salary was, and how many deductions were made from their SISIP benefit, including the PA pension, and what COLA percentage they are using for each year. I just wouldn't want someone thinking that they are going to necessarily get $150 for every month as well. And the farther back the COLA is recalculated, the total amount increases exponentially. Let's use Propat's example of a Veterans who's gross SISIP benefit was $3000, but had $2000 in deductions. In a single year, calculated at the max 2%, the COLA should be $720, instead of $240. That would be a COLA adjustment of $480. But now the second year, the COLA would have to be based on $3720, instead of $1240, or $888, instead of $300. So the second year COLA adjustment would be $588. Now imagine how much that will grow, over an extended period of time.

good question as they took the large sum in July of 2014 propat so CPPD Benefit was done after so I am saying they never did those calculations as how could they without the Pensions Office conducting y=their own review after Manulife