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Post by trinitus on Mar 2, 2015 11:19:23 GMT -5
Has anyone heard the formula for this year's profit sharing check's. I know it is based on your hours worked, the amount the company made but there is still a formula for this.
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Post by reedycreekbuc on Mar 2, 2015 12:14:26 GMT -5
$2.982 per hour worked according to Blue Oval Employee Forums
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Post by knowthebiz on Mar 2, 2015 17:14:29 GMT -5
How do we find our hours worked?
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Post by brizzel on Mar 2, 2015 17:25:04 GMT -5
Go through all of your paychecks. All straight time, personal, vacation, jury. Basically any compensated time.
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Post by knowthebiz on Mar 2, 2015 17:42:14 GMT -5
What about medical? If it was workmans comp, does that count towards the worked hours?
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Post by toddstang on Mar 2, 2015 20:28:57 GMT -5
What about medical? If it was workmans comp, does that count towards the worked hours? Yes it counts. I was out 4 months last year and my check was same as everyone else's.
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Post by Ktp1989 on Mar 3, 2015 3:02:13 GMT -5
2.982 was an example on blue oval news forum...have not released the formula yet
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Post by ihatemyjob on Mar 3, 2015 6:55:58 GMT -5
$2.982 is the formula.
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Post by william on Mar 3, 2015 13:22:22 GMT -5
So overtime doesn't count? How much less would you get if you had been off without pay for two months?Or would overtime make up some of that? Thanks
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Post by brizzel on Mar 3, 2015 13:32:30 GMT -5
If you want to figure it out. Go through all of your paychecks and add up all straight time, holiday, personal, vacation , jury, workman's comp, bereavement. I think that about covers it.
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Post by TonyV on Mar 3, 2015 15:42:16 GMT -5
thanks for posting
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Post by dapperdan on Mar 3, 2015 17:38:44 GMT -5
Do hours worked as an LTS count?
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Post by brizzel on Mar 3, 2015 17:56:04 GMT -5
Highly doubt it.
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Post by mrsjackson on Mar 5, 2015 12:27:59 GMT -5
Do hours worked as an LTS count? Yes.
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ktpgirl
Amateur
A journey of 1,000 miles begins with a single step.
Posts: 159
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Post by ktpgirl on Mar 5, 2015 13:29:32 GMT -5
Do hours worked as an LTS count? Yes. Lts are not full time employees, therefore they do not receive profit sharing. Those hours do not count. I asked the committeeman
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Post by swins24 on Mar 5, 2015 14:43:58 GMT -5
I got profit share as an lts last year. I work from may 2013 until i got hired january 27 2014 and I took home 3000 in March. My committee man told me as long as i didnt have a break n service i would get it and all hours would count and I did get it. He also said even if i wasnt entry level by march ,as long as i had not been laid off I would get it as an Lts.
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ktpgirl
Amateur
A journey of 1,000 miles begins with a single step.
Posts: 159
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Post by ktpgirl on Mar 5, 2015 15:32:06 GMT -5
I got profit share as an lts last year. I work from may 2013 until i got hired january 27 2014 and I took home 3000 in March. My committee man told me as long as i didnt have a break n service i would get it and all hours would count and I did get it. He also said even if i wasnt entry level by march ,as long as i had not been laid off I would get it as an Lts. Ok
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rkr
Amateur
Posts: 103
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Post by rkr on Mar 5, 2015 21:05:39 GMT -5
swins24 remembers correctly!
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Post by Ktp1989 on Mar 6, 2015 18:01:11 GMT -5
As I said earlier in the week...the formula had not been released. The formula came in an email today from Jimmy Settles and is 3.04741 per hour worked. Enjoy!
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Post by ihatemyjob on Mar 6, 2015 23:46:41 GMT -5
And as I said its 2.982. LAP handed out a hand out on it last week. And if pictures could be posted here I would post it as proof. $313,110,811 for 105 million man hrs. 313,110,811/105,000,000 = $2.982.
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Post by Ktp1989 on Mar 7, 2015 3:32:20 GMT -5
Email came today...from international. I will go with what I received today.
316,396,687 Profit Sharing Fund/103,824,827 total compensated hours=$3.04741 profit share per compensated hour
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Post by tiger66 on Mar 7, 2015 7:56:48 GMT -5
Handout said 6900$ average. Is this not correct? Pay stub should be showing your amount in a few days
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Post by Ktp1989 on Mar 7, 2015 11:26:31 GMT -5
Handout that came yesterday stated that $6898 was the average check.
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Post by lap65 on Mar 7, 2015 11:30:54 GMT -5
I'm going to be really mad if it's $6898 & not $6900!!!!! LOL!
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Post by brizzel on Mar 7, 2015 12:03:27 GMT -5
Mine should be around $7500. Final area hours. Of course uncle Sam will get his.
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Post by ihatemyjob on Mar 7, 2015 12:25:49 GMT -5
Then the LAP handout is wrong. And it was a 2 page handout explaining all the numbers and who is eligible.
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Post by nra4life on Mar 8, 2015 0:20:14 GMT -5
The handout we just recieved tonight from International states "the maximum compensated hours will be 1850 for this plan year"....Thats like 35 hours a week average. Something is fishy here people.
Letter i have is signed by Jimmy Settles, would post it but cant upload from my phone.
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Post by william on Mar 9, 2015 12:10:43 GMT -5
Did it also get paid out last year on thursday?
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Post by Ex-metalman on Mar 9, 2015 13:13:47 GMT -5
Where did 6900 come from?I mean 1850x3.04.Doesnt get close to 6900..People out in final got screwed !!!All those hours should of went towards profit sharing.I don't care if they got more than me(body shop) they were here more and worked more..
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Post by gans250 on Mar 9, 2015 13:14:26 GMT -5
Yes
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