Retroactive Salary Increases
Sunday, October 17, 2010
It's one of those long involved tales - basically, our union (AFT) negotiated salary increases with the gov't back in the late 80s, the contract was agreed upon, the governor didn't sign because there wasn't money to pay us. The issue went to court, the court ordered the gov't to pay.
Now, 20-something years later, a commission was formed to create spreadsheets figuring out how much each person involved should be paid, based on the agreed upon salary schedules. This isn't just the teachers' union, it's many of the gov't employees. In fact, possibly most of the gov't employees.
At any rate, I'm owed what amounts to one and a half times my former salary (at the end of the period we received partial increases) - yes, I am owed 150% of what I earned about 10 years ago.
The government just paid us 16.7% of that amount. Several thousand dollars. In one pop. That's after taxes and retirement are taken out.
So I think DH and I should take a winter vacation, and just relax. We're downsizing our lives, we're looking at smaller and cheaper apartments, we're living on one salary plus retirement. And while it would probably make sense to hold onto the money, well, we both have reasonable savings accounts to fall back on.
So this is found money. A bonus. I think a vacation is in order. Malta? Machu Picchu? Barcelona? Hmmmmmmmmmmm.