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"What if" Salary Calculator

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The procedure for dispersal of discretionary salary increases has been described by some as unfair and secretive. If  1% of our salary were given back to every full time, or permanent part time UUP member in an across the board amount, (or % if they are part time professional) that would give everyone somewhere between $400 to $500 each year. This would obviously mean a lot to the someone making $29k than someone making $65k, but just for arguments sake, try this:

Enter your current salary:
Enter the years you have until retirement: 
Enter the percent increase negotiated by UUP in decimal form .ie .02: (for 2006 it was .03)
If everyone got an across-the-board increase as proposed by our local Chapter, the amount would be between $400 and $500 Put in a figure between 400 and 500
 
Your salary will/should be: 
Your salary without the across the board increase will be:
A difference of:
Now show me the difference in my retirement "nest egg" (assumes that you invested %10 of your annual income, at a very safe %7 return on your money (yearly)).  
Your nest egg with the across the board increase would be :
Your nest egg without the across the board increase would be :
A difference of:
E-mail me your comments  Norm Payne  

Every year the President of the college receives 1% of the UUP payroll to disperse at his discretion.  This money is given out to members of our bargaining unit in the form of a discretionary salary increase.  Each year, members apply for a part of this money in differing ways depending on department procedures..

In the beginning, circa 1970's, the money was given out as an across the board increase, much like the "steps" that CSEA has now.  Then UUP members decided that they would do better if they were to "bargain" with their departments over the size of their increase in salary.  That leads us to where we are now with discretionary salary money, and how it is dispersed.

Each year at our opening ceremony breakfast, Dr. Donovan says that everyone on this campus has worked  hard and to make this one of the best SUNY colleges in the system.  He states that through our hard work we are becoming the first choice for many more students than ever before, and we deserve to be commended for our effort.  

If the 1% of our salary were given back to every full time, or permanent part time UUP member in an across the board amount, (or % if they are part time professional) that would give everyone somewhere between $400 to $500 each year. 

In July of 1997 the discretionary salary increase was dispersed in an across the board manner.  This was because the budget was late and our administration had no time to decide who should get a discretional salary increase .  The amount was $500. For arguments sake, put in $400 in the above calculator.  You can put  in $450 or $500, (each year the amount should theoretically increase) to see the difference.  

This calculator will then assume that the President agreed to do the same thing (across the board increase) each year, and the amount was the same. 

For arguments sake, assume that the annual increase negotiated by UUP will be 2%, so enter .02, or .025, or even .03!