Posted Dec 14, 2011, 3:25 AM
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Registered User
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Join Date: Jul 2011
Location: Ft. Lauderdale, Florida
Posts: 343
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Quote:
Originally Posted by 06hdfxdwg
Lets see if i can explain it as clear as possible. Every week a worker gets his pay envelope that contains his weekly paycheck for x-amount of straight time and x-amount of overtime,if in fact they have worked overtime that week. Also included in that envelope are stamps,similar to the old trading stamps,if you're old enough to remember those.Those stamps reflect those straight and overtime hours and are used to show proof of hours worked so they can be credited toward retirement and medical benefits. Those stamps are placed in a book for every year. When it comes time to retire,the said worker will have a book for every year worked. For instance,if the guy retires after 35 years,he should have 35 yearly books he turns in and retirement is based on the number of stamps in each book. Not many locals use the stamp books anymore. Most locals have gone to an electronic system nowadays. I will say though that it,in my opinion is a better way. I hope that helps a bit.
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Thanks very much for that detailed explanation!!
Quote:
Originally Posted by tiarae
Their 'stamps' are all their union assessments (annuity, vacation, etc)...they've been getting paid their basic hourly pay but everything else is about 9wks behind. Several of the workers rely on their vacation fund for their mortgage pmts. There was talk of possibly working this past Saturday because of the time lost due to weather throughout the week. It was decided not to because their stamps are still so far behind. They've been talking about guys volunteering to take time off because with the stamps so far behind they can't afford to lay anyone off - when you're laid-off, they have to pay you everything you're owed including your stamps to date. It's not just 1WTC with these issues, 4WTC was talking about a sit-down strike for the same reasons.
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You, too, thanks!
Last edited by NYguy; Dec 14, 2011 at 3:05 PM.
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