OBJECTIVES OF WORK CREDITS (WC)
The objective of WCs is to change the economy of salary and wage to value of work habits and ethics (MDR). Instead of having currency that changes in value of the dollar, WC maintains its value as relates to the cost of living, thus keeping the value of work ethics properly appropriated to the cost of living. Unlike the increase of minimum wage, an individual does not work harder to keep up with the cost of living as the minimum wage goes up along with the exponentially spiraling cost of living.
WC DOES NOT CHANGE: THE VALUE OF WC CHANGES WITH THE LOCAL COST OF LIVING
For example, if 20 WCs equal the average monthly rent at $900 and a year later the value of the dollar decreases and rent stay at $900, the WC remains 20 WC. If the value of the dollar decreases and rent increases to $1200/month for the same rental, then that same 20 WC equals $1200, regardless of the value of the dollar.
For example, if 10 WCs covers the average weekly cost of living which today is $100 from yesterday’s $75, but becomes $125 tomorrow then the value of that 10 WCs equals $125 tomorrow, $100 today, and $75 yesterday.
HOW WCS WORK
WCs tell you what you are worth to the SIT Program and thus expresses your own self-worth. It does not tell you how much you are worth in the economy outside the SIT Program. WCs tell you what the SIT Program will pay for, not what you will be able to convert to currency.
WORK CREDIT CONVERSIONS
One Work Credit (WC) = one hour of work One hour of work = average cost of living (C/L) ÷ 2080 hours +10% For example: if the average cost of living is $1000/month rent, $200/month utilities, and $400/month groceries in the locale of the SIT Community that SITP Doe resides in, then the value of one work credit for that area equals $1600 X 12 months in a year divided by 2080 hours or $9.23 + $0.92 = $10.15 If participant moves from the above locale into another locale, then the conversion factor will be based on the locale of destination and not the locale of origin. 20 WCAs (MDR) = one-week room, board, and SIT Program share of expenses Maximum and required WCs to earn daily, five days per week = four, or Maximum and required WCs to earn daily, four days per week = five Sponsorship Contributions Conversions Contribution ÷ WC Value = Hourly Exchange For example: $500 Sponsorship Contribution ÷ $10.15 (as calculated above) = 49 Hours
Each participant contributes
WCA: 20 WC to SIT Community weekly
WCB: 20 WC to Sponsors weekly
WCA will provide for the cost of one-week room, board, and SIT Program share of expenses (materials, supplies, and other related expenses as well as all other in-house expenses).
WCB will provide training and education as well as on hands experience from Sponsors, see PRIMARY SOLICITATIONS: SPONSORSHIP, page 33. The Sponsor will pay any WCs earned in excess of 20 per week directly to the participants, and an SIT C/M supervising the task must approve this.