Buydowns, anyone had offers ?

[savo]

I was offered 4 and half K for buydown from 40 to 20

Done 5 ish years and about 12 yrs to retirement @ 60

None of the folks who asked for quotes in our office took up the buy down option. So presumably they will wait for retirements before bringing in the 20 hr contracts.

[NWpostie]

I think if you buy down your hours, you can't work past 40 hours on overtime. so if you do 20 hours above your 20 contracted hours, then you can't work past 21 hours.

That was my understanding in my Office, as was explained to me as somebody wanted to buy down to 35 hours, they were told that they can't work past 5 hours overtime, they didn't take up the option in the end.

I could be wrong, I am only going off on what I am told.

[savo]

Not sure about that NW.

When i transferred to my current office, i went from FT contract at old office to 30hr contract at new .
Wasnt happy about that, but it was my decision to transfer, so had to accept it ( got back to 40 hr contract a few months down the line )

When i was on 30hrs, most weeks i was on FT walks, so was booking 2 "Up hours" every day, plus OT if i went over time.

However the first 10 hrs OT is only paid at standard rate, which is a con. I questioned the union rep about it at the time, saying that if i had exceeded my contracted hrs (30) then surely any hours on top should be at OT rates, reply was that basically the union had cocked it up.

Gone a bit offtopic from initial post, sorry.