I guess it's not so easy getting people to work for free anymore. <_< Is the kool-aid getting a little too watery?
Who has Rico been talking to? :blink: They are just now figuring out what goes on in "the real world" to hire and keep people of quality? Gee....taking care of people... WHAT A CONCEPT!
Let's face it, twi is beginning to realize that their con game is no longer working the way it used to...for a number of reasons...
...For one, their chaismatic leader is dead and the only alternative they have is...well, actually, nobody.
Another reason is because of US...people are more and more computer savy and twi cannot live in a vacuum anymore. Word is out...they're a manipulative cult and if they want to keep people, they have to offer benefits...plain and simple.
There is no "abundant life" in twi so therefore, they have to offer some worldly benefits...sounds to me like religion at it's worst.
When I was on Staff from 1996 to 2001 our dental, medical, vision, and prescriptions were paid 100% by reimbursement from TWI. You had to get approval from them for anything over the normal doctor visit. They told us to tell the health community that we didn't have insurance so they would charge us less money. We were told by TWI that in no circumstances were we to ever tell the health community we received reimbursement from TWI. I think TWI could do this because it was a write-off for them at tax time. Or maybe they were self-insured. I don't know that part for sure.
Shortly after we had to take a mandatory 10% cut in pay (which was a need basis, remember???), they changed the benefits to 80% reimbursement. We took a 10% cut in pay on a need basis salary and was expected to cough up 20% of all of our medical, dental, and vision needs. For those who had medication they took on a regular basis or those who required more doctor visits, it turned in to a problem. But we didn't dare go to TWI asking for more money because we feared we would be made an example at lunch time.
It was around January 2001 that they started the 401K program. You had to work for twi for something like 7 or 8 years in order to be vested. And you had to figure out how to cough up some extra money to participate in the 401K program in the first place. TWI leadership really thought that one through.
I heard at the ACS in 2002 that they started paying the staff "regular" salaries. What does that mean? They make $10 an hour? Probably less. But they charge the staff for rent and food now too. Before, the rent and food benefits which appeared to be free were added to your W2 form as benefits.
the business methodology of twi seems to have trickled down to lots of the "believer" businesses. some of the small-time businesses were fine, but the more lauded by twi leaders a business was, the more corrupt I'd suspect it to be just based on my experience with a business my ex and I worked for... low pay, no benefits, dangerous working conditions, barely scraped by for years, and we were "blessed" to be working for such a great man and godly company. ha. his employees were at the bottom of his list of concerns and were really nothing more than a means to his end of financial abundance.
I'm not sure, but isn't there two types of vesting, cliff, and graded? Cliff is where you go from 0% to 100%vested, and graded is where maybe after 1 year you're 20%vested, then 50% next year, then 100% after three years, depending on what your employer says. Anyway, I thought there was a law for vesting schedules. And I thought the law was 3 years for cliff, and 6 years for graded. If I'm correct, isn't TWI breaking the law by making their employess wait 7 or 8 years to be vested?
It was around January 2001 that they started the 401K program. You had to work for twi for something like 7 or 8 years in order to be vested. And you had to figure out how to cough up some extra money to participate in the 401K program in the first place. TWI leadership really thought that one through.
Don't kid yourself. The 401K was there to take care of Rosy and the old-timers, not the rank and file. The law requires it be offered to everyone, but you can bet the only fatcats at retirement will be the head honchos.
I'm not sure, but isn't there two types of vesting, cliff, and graded? Cliff is where you go from 0% to 100%vested, and graded is where maybe after 1 year you're 20%vested, then 50% next year, then 100% after three years, depending on what your employer says. Anyway, I thought there was a law for vesting schedules. And I thought the law was 3 years for cliff, and 6 years for graded. If I'm correct, isn't TWI breaking the law by making their employess wait 7 or 8 years to be vested?
Since 401(k) is your money, it has to be "cliff". Profit sharing or employee stock ownership is made up of employer contributions, so would be different.
Ok, but still, isn't TWI breaking the law by vesting their employees after 7 or 8 years? Here's what I found:
Finally, EGTRRA lowers the number of years that individuals must participate in certain types of employer retirement plans before they are vested. Vesting is the guarantee of benefits from a plan, regardless of whether or not the individual leaves the employer prior to retirement. When first imposed by the Employee Retirement Income Security Act of 1974 (ERISA), vesting had to occur after no later than 10 years, or after 15 years if the plan provided graduated vesting. For example, under a graduated vesting schedule, the employee might be 25 percent vested after 5 years, with the percent increasing annually until reaching 100 percent vested after 15 years. Over time, Congress has reduced the maximum number of years that could be included in a vesting schedule. Under the new law, vesting of employer matching contributions to a defined contribution plan must occur after 3 years (cliff vesting), or after 6 years if a graduated schedule is used.
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lindyhopper
As if the joy and blessing of serving the household isn't enough.
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Belle
I guess it's not so easy getting people to work for free anymore. <_< Is the kool-aid getting a little too watery?
Who has Rico been talking to? :blink: They are just now figuring out what goes on in "the real world" to hire and keep people of quality? Gee....taking care of people... WHAT A CONCEPT!
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GrouchoMarxJr
Let's face it, twi is beginning to realize that their con game is no longer working the way it used to...for a number of reasons...
...For one, their chaismatic leader is dead and the only alternative they have is...well, actually, nobody.
Another reason is because of US...people are more and more computer savy and twi cannot live in a vacuum anymore. Word is out...they're a manipulative cult and if they want to keep people, they have to offer benefits...plain and simple.
There is no "abundant life" in twi so therefore, they have to offer some worldly benefits...sounds to me like religion at it's worst.
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Nottawayfer
When I was on Staff from 1996 to 2001 our dental, medical, vision, and prescriptions were paid 100% by reimbursement from TWI. You had to get approval from them for anything over the normal doctor visit. They told us to tell the health community that we didn't have insurance so they would charge us less money. We were told by TWI that in no circumstances were we to ever tell the health community we received reimbursement from TWI. I think TWI could do this because it was a write-off for them at tax time. Or maybe they were self-insured. I don't know that part for sure.
Shortly after we had to take a mandatory 10% cut in pay (which was a need basis, remember???), they changed the benefits to 80% reimbursement. We took a 10% cut in pay on a need basis salary and was expected to cough up 20% of all of our medical, dental, and vision needs. For those who had medication they took on a regular basis or those who required more doctor visits, it turned in to a problem. But we didn't dare go to TWI asking for more money because we feared we would be made an example at lunch time.
It was around January 2001 that they started the 401K program. You had to work for twi for something like 7 or 8 years in order to be vested. And you had to figure out how to cough up some extra money to participate in the 401K program in the first place. TWI leadership really thought that one through.
I heard at the ACS in 2002 that they started paying the staff "regular" salaries. What does that mean? They make $10 an hour? Probably less. But they charge the staff for rent and food now too. Before, the rent and food benefits which appeared to be free were added to your W2 form as benefits.
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washingtonweather
Kool-aid is crappy when you take the sugar out
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potato
the business methodology of twi seems to have trickled down to lots of the "believer" businesses. some of the small-time businesses were fine, but the more lauded by twi leaders a business was, the more corrupt I'd suspect it to be just based on my experience with a business my ex and I worked for... low pay, no benefits, dangerous working conditions, barely scraped by for years, and we were "blessed" to be working for such a great man and godly company. ha. his employees were at the bottom of his list of concerns and were really nothing more than a means to his end of financial abundance.
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excathedra
i'm reporting this thread to the moderators
there is a "just plain silly" forum forgodssake
that's where these jokers belong
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Bramble
7 or 8 years to be vested in the 401k? What a rip off! Every 401k program I've heard about vests after one year. Mine does, so does hubby's.
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jackdaniels
I worked for 2 companies that you had to work there for 5 years in order to be vested--one was a major insurance company-AIG.
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VeganXTC
I'm not sure, but isn't there two types of vesting, cliff, and graded? Cliff is where you go from 0% to 100%vested, and graded is where maybe after 1 year you're 20%vested, then 50% next year, then 100% after three years, depending on what your employer says. Anyway, I thought there was a law for vesting schedules. And I thought the law was 3 years for cliff, and 6 years for graded. If I'm correct, isn't TWI breaking the law by making their employess wait 7 or 8 years to be vested?
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excathedra
twi would never break the law
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Jim
Don't kid yourself. The 401K was there to take care of Rosy and the old-timers, not the rank and file. The law requires it be offered to everyone, but you can bet the only fatcats at retirement will be the head honchos.
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WordWolf
A) Don't they still "turn over" employees so they're fired or "asked to leave" just before
they can reach eligibility for stuff,
or is the candidate pool so shallow they actually have to keep hires now?
B) At those wages, how much can a few years of that add up to, really?
Even if others get something, only those at the top are more than a "rounding error."
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Oakspear
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VeganXTC
Ok, but still, isn't TWI breaking the law by vesting their employees after 7 or 8 years? Here's what I found:
Finally, EGTRRA lowers the number of years that individuals must participate in certain types of employer retirement plans before they are vested. Vesting is the guarantee of benefits from a plan, regardless of whether or not the individual leaves the employer prior to retirement. When first imposed by the Employee Retirement Income Security Act of 1974 (ERISA), vesting had to occur after no later than 10 years, or after 15 years if the plan provided graduated vesting. For example, under a graduated vesting schedule, the employee might be 25 percent vested after 5 years, with the percent increasing annually until reaching 100 percent vested after 15 years. Over time, Congress has reduced the maximum number of years that could be included in a vesting schedule. Under the new law, vesting of employer matching contributions to a defined contribution plan must occur after 3 years (cliff vesting), or after 6 years if a graduated schedule is used.
The complete article is here:
http://www.bls.gov/opub/cwc/cm20030121yb03p1.htm
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Hope R.
Brilliant! This one belongs on GS Gems...
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