SISIP COLA RETRO (Assorted Topics)

OH the cola's, old and new VAC lawsuit, Somalia law suit, M. Kenny's law suit, Continuation of Denis Manuge law suit !!!! we all have enough to keep us going until death and then some. This morning I realized how must I missed this place. The intrigues, fun, bad days. new info ect....... Here's to hoping for my COLA.. Go cola GO,GO,GO,GO got all dress up for that to. even had my pompoms.

trooper for the largest part yes it is a matter of gross vs net however there are other calculations that can add up or even subtract from your total amount although these other peripheral amounts don't really add up to a whole lot .

its quite easy to calculate your gross vs net benefit as the calculations are quite simple although they do take time if its done as I previously described the result will be extremely accurate.

propat

firebird yes .

propat

The way I understand it to be regarding the COLA calculations is simply a matter of GROSS vs. NET.

In the original 2013 payout, the COLA was calculated on the net of our benefits.

With this latest COLA order they are now going back to redo the calculations - calculating the COLA on the gross amount of our benefits.

Once the gross calculations have been completed, they will take the gross amount and subtract it to the already received net amount.
Now they will take this new amount and multiply it by 74% - add in the accumulated interest as described in the order - that is what the total dollar amount would be with respect to the COLA amount received.

Now keep in mind the Legal fees will be deducted from this total amount at 8.038% - not from the amount of after taxes that were withheld by Manulife, but from this total amount.

Now if my understanding of this turns out to be correct, those with a two year retro would have very little trouble doing their own rough calculation to see where they stand ( ROUGHLY )

The further your retro goes, one would not be to far off by saying the larger the amount of COLA they "MAY" receive.
Also the further back your retro goes, it becomes nearly impossible to get a solid rough estimate of what you may receive, as with the variables and the many complex calculations involved.

Is it possible for some to receive a large COLA cheque as previously reported, ABSOLUTELY, but my advice would be to look at what has already been posted in regards to the large amounts showed, and take that as proof, feel free to do your own estimates if you are brave enough to do so, but like I said this would be difficult for anyone who's retro goes a ways back.

PA ? Do you mean Veterans Affairs?

well firebird if you received your SISIP retro you should have already received the COLA for the PA pension deduction they however still owe you COLA for the rest of the deductions.

propat

my entire 75% of my final year salary , which was $63,000 , was deducted as I am a zero sum for two years so I should get a descent amount.

not a problem buds like I said it may work out that way for him but probably not for anyone else as that is not the way it is being calculated.

propat

thanks for the intel.... cheers

CPPD , mil pension ect.

propat

deductions? Is that from the sisip worksheet? Or incometax

NOOOOOOOO!!!!!!

peep everyone is different .

it all comes down to your deductions .

if you had a large dollar amount in deductions you will get a good amount per year .

if you only had a small amount of deductions you will get a smaller amount per year .

if you had no deductions you will get a very small amount per year .

his may have worked out to that but it has absolutely nothing to do with your settlement .

propat