SISIP COLA RETRO (Assorted Topics)

here is an interesting question buds did SISIP recalculate your benefit for your CPPD after july 2014 or before ?????

propat

Robbie in your initial retro payment calculations the would have reduced your SISIP by your CFSA amount so they will still owe you COLA for that amount . as for the CPPD they will still owe you COLA for that as well for the same reasons from the effective date of CPPD up to the date of the order witch I belive was july /2/2014.

clear as mud ?????

propat

Sounds all fine and dandy but I never received any SISIP until 2012 I believe, and then they formulated my CFSA Pension in at that time, reduced my monthly based on that taxable income. However once I received my "Retro" I applied and received a CPPD Benefit, which in turn was split by the CFSA Pensions Office and Manulife. So why has the CFSA Pensions Office not contacted me in regards to the 11,000 they took back this (2014) year or in fact why has Manulife not contacted me in regards to the 13,000 they took this (2014)year. Seems the COLA would apply to those 15 months backdated I figure.

dave I don't think you are causing confusion at all and I see no reason to delete anything .

all of this info is good info some guys are curios and will want this .

if anyone gets to wrapped around the axel over this they shound take robbies advice and step back and wait for the check .

this is something you need to be carful with for sure . but nothing anyone needs to stress over im sure we all have enough of that in our lives already.

propat

there seems to be some confusion out there about what is happening ill see if I can clarify somewhat.

this became an issue in the court because there was a few problems in the way SISIP was calculating COLA.

now these were all valid concerns but moast of them don't really add up to a lot .

the main issue was the gross vs net calculation .this if it applies to you would be the largest part of the calculation for your retro .

here is an example using rounded numbers .

if your pre release salary was 4000 SISSIP would take 75% of that to get your gross benefit .

that's 3000

SISIP should have been calculating COLA on that and if you had no deductions that's what they did so the gross vs net calculation doesn't apply to you and your check will be very small.

now if you were getting 1000 from CPPD and 1000 from mil pension SISIP would deduct those amounts from your gross benefit to give you a net benefit of 1000.

now instead of applying the COLA every year to the 3000 gross benefit like they should have they were only applying it to the 1000 net benefit witch was wrong.

what they are doing now is paying you back for not applying the COLA to the other 2000 in deductions that they should have .

so boys this is all concerning your deductions.

the more deductions you have from your SISIP benefit the more you will get per year . the fewer deductions you have the less you will get per year . and again if you have no deductions you will get very little per year.

yes they will add interest and they will add the peripheral amounts and they will reduce that amount to 74% of it .

I hope this helps you to understand what is happening right now and why simply Appling a percentage to a given amount will not work for everyone .

propat

without slapping a trout I am going to dig in with my "God" C/S and "Spot" his first shot, watching the "Swirl" aids in correction, however since C/S Dave is a fine shot and did his calculations prior to calling his shot, I believe the intention s of the page six (6) insert is too give "HOPE" and only "HOPE". We need not sight our guns in pairs nor do we need a "Killing Zone" to repeal "Hope" we need each other. If you all want to question anything I will release a certain CSAT Member who actually can give out a theory of how this works but even he is very "Tentative" in releasing his first hand knowledge as the more complicated this becomes the more the "Hypothetical Banter" becomes. So until the numbers come in look directly between the posted actual numbers and dig in, relax, and wait for the postman. "Adjust for Windage, left one click" your good to go "Sniper", over but never out.

So ! if this is causing too much confusion for some , I can deflate my comments & calculations & the Buck stops there ...........

Just say the word !

As for myself , well , I truly appreciated the formula , for it is after all , A Starting Point ! to end any doubt one might have , especially myself with just grade.8 , now I know .........

Have a Great Day all .

Just like Helpin out my fellow Veterans ! take-care ................

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

yes recon is correct as to what is provided on the calculation sheets given to you by SISIP when you receive your cheque . ive seen a few of these as ive been checking them for vets and that is all the info they give you .

and bigrex is correct when it comes what he is saying SISIP is giving answers on this sheet but not showing there work. so they are not showing the calculation to get to each number.

propat

Hey bigrex ,

         you may be right & we expected some comments that may not agree to the simple formula even though the formula is using my timeline for 12 1/2 yrs.  , the 2 Troops who gave me their calculations were sitting right in front of me on my screen via e-mail . And that's exactly where it will remain , I will not divulge their paperwork ...... too much personal info . which is not for public viewing !!! From Left to Right on the calculations there are 17 blocks with various amounts :

TO ME .......... THIS IS ALL VERBAL DIAHREAH COMPARED TO MY CALCULATIONS ON PAGE.6 , BUT , HERE YOU GO ....... ENJOY !

yes , I KNOW , it doesn't EXPLAIN , how I got the $ 150 per mth. , so anyway ......... you know when """ YOU """ were released & now """ YOU """ know the cut off date to McInnis / Cooper being " PAID " to turn around & Pay " YOU " . The month's for Accumulated Interest are below ....... & I'm not about to insert all the amounts to show the calculations . That would " BREAK " the Trust Barrier with my Friends of whom I gave my word not to disclose their amounts .

AGAIN.............. Look @ page .6 , @ my timeline & calculations ........... HINT ! HINT ! ..........unless you " OWE " them some money for over-payments or rehab loan , that's none of my frackin business !

1. Payment Dates ...........Payment Periods

2. Gross ........................Admin. Correction
3. Federal Tax.................Admin. Correction
4. Quebec Tax.................Admin Correction
5. Net ( A-B-C )...............Admin Correction
6. Interest.......................Admin Correction

7. Gross vs Net...............................Principle Refund
8. Gross vs Net Interest...................Principle Refund
9. Cumulative.................................Principle Refund
10. Cumulative Interest...................Principle Refund
11. Gross Principle Refund................7-10 added together

12. Minus (-) Federal Tax ................. 30 %
13. Minus (-) Quebec Tax ................. if applicable
14. Net = Gross (-) Taxes
15. Existing Non-Pension act over-payments
16. Rehab Loan
17.  = COLA REFUND

NOTE IT STATES THAT :  if for any class member , the Principal Refund is less than Zero, the value shall be deemed to be equal to Zero .

Interest :

6 % from February. 01 , 1992 to December . 31 , 1995
5 % from January .01 , 1996 to December . 31 , 2008
3 % from January .01 , 2009 until the date the amount is Paid to McInnis / Cooper ............. JULY . 01 , 2014 ........ I DO BELIEVE !

Look again on / at my Calculations on page 6 , they're broken down & notes stating that " WE WILL ALL BE CALCULATED DIFFERENTLY " But , here's a simple Formula to get started .

I used my timeline on page .6 Bigrex . & the 2 Troops in question said that I was slightly under what I will actually get , with only a grade .8 , I get it , i'll take it ...........

Hope this helps ....... & good luck to to you all in the future , Eagleye1 ....out !

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

The calculations on page six actually do very little help someone calculate their own COLA. It doesn't tell you how they came to the $150 per month. Plus, we do not know what the difference was between the gross and net amounts. All those calculations show, is how much one can expect to lose in deductions, (and that's not even including the 8% legal fees).

Go to page 6 , that's the Calculation used by Manulife & forwarded to McInnis / Cooper
for Final COLA Payment .....

Hope this Helps you .....

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

not a problem buds.

propat

That's awesome and a lot nicer than I had originally thought! Thanks for your time!!!

again I really don't think you can nail a % down to it as COLA changes year to year . however 2.5 may be a good place to start for a minimum ballpark .

propat

So Cpp + Mil Pension x #of months x ~2.5%= approx COLA refund?