Retro Check Estimator

Caution: This tool is just a rough estimate of the money one might expect to receive in a retro check, so don't go out and buy that new car just yet. We are not accountants.

Raise proposal information was obtained from this file on the Chicago F.O.P.'s website.
Salary information was obtained from department directive CPD-61.400.
Final raises per the arbitrator's decision were obtained from the Chicago F.O.P.'s website.


If you come across any errors, please let us know!

Table of proposed raises:

Year	City's Initial Offer	FOP's Proposal	Per Arbitration
2007	1.10%	4.00%	1.00%
2008	2.25%	5.00%	3.00%
2009	3.00%	5.00%	2.00%
2010	3.00%	5.00%	1.00%
2011	3.25%	5.00%	2.00%
2012	3.50%	5.00%	1.00%

Here is an example of the math behind our method. Using the case of a PO with 25 years of service at the time of the start of the current contract (01-JUL-2007), which is the same example the F.O.P. is using in their sample worksheet, here is a table showing what the P.O. was actually paid, and what the P.O. should have been paid, had the raises actually come in time:

Year	Actual Monthly Salary	Raise Percentage	Raise Calculations	Monthly Salary with Raises	Difference Between Actual Pay and Pay with Raises	Number of Months to which the Raises Apply	Amount Owed
2007	$6500.50	1%	$6500.50 + $6500.50 * 0.01	$6565.51	$65.01	6	$390.06
2008	$6500.50	3%	$6565.51 (previous year's raise included) + $6565.51 * 0.03	$6762.48	$261.98	12	$3143.76
2009	$6500.50	2%	$6762.48 (previous year's raise included) + $6762.48 * 0.02	$6897.73	$397.23	12	$4766.76
2010	$6500.50	1%	$6897.73 (previous year's raise included) + $6897.73 * 0.01	$6966.71	$466.21	6	$2797.26

If you add up all of the numbers in the right-most column (the amounts the P.O. is owed), the total comes out to $11097.84, which is pretty close to our estimated amount.