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Old 07-19-2019, 12:25 PM
 
190 posts, read 63,859 times
Reputation: 98

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Quote:
Originally Posted by PghYinzer View Post
I actually get a pension too, forgot about that. It is matched to a certain % of salary. I dont remember how much. I think they may have now phased it out for new employees, but I def have one due to my start date. I have come to realize, by how many benefits I have simply forgotten about, how good my benefits are.
any opening?
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Old 07-19-2019, 01:06 PM
 
Location: Downtown Cranberry Twp.
8,764 posts, read 5,445,786 times
Reputation: 2041
Quote:
Originally Posted by SteelCityRising View Post
What difference does that make? Should people without degrees be denied PTO? In Europe servers are even considered "professionals" while in the United States people look down on service sector workers. This is a very elitist country for some reason.
There are many “servers” that are considered professionals. It obviously depends on what kind of server you are and how good you are at the job you do. I’d wager that goes for Europe also.

I didn’t say anything about a degree. I asked what education/skill is needed to do the job you do?

It’s obvious that if most anyone can do your job, you’re not going to receive as much money as an employee in a profession that most everyone can’t do.

What people without degrees aren’t receiving PTO?

You’ve also said many times that you have the opportunity in your position to work overtime and make $45k+/yr, and combined with the vacation and paid holidays you receive, it sounds like a pretty good perk for a position that most anyone can do.

Last edited by erieguy; 07-19-2019 at 01:22 PM..
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Old 07-20-2019, 06:23 AM
 
575 posts, read 521,970 times
Reputation: 802
Quote:
Originally Posted by pittsburghaccuweather View Post
No I donít have data, but I can tell you a lot of Pittsburgh based companies were not close to what I got here as far as PTO. If there are many other good stories Iíd like to hear what they are. My wife now works from home for a company based in Dallas. She just took the job. Big pay increase more time off and flexibility. She would get 4 months fully paid maternity leave in addition to 4 weeks vacation.

Which Pittsburgh based company is giving 4 weeks of vacation to start, not including December 23, 24 and 25 as paid holidays, 3 floating holidays, 2 weeks of sick leave and four months of fully paid maternity leave? That is what my wife just got as a paid time off package. Itís better than mine.

We both went on a lot of interviews locally and nobody would budge on two weeks vacation. Thatís just our experience
BNY Mellon is very close to this and might even be better as you are able to purchase an extra week's vacation. This is a legacy vestige of Mellon (Pittsburgh) not BNY post merger. Some other benefits substantially decreased after they merged. For Pittsburgh employees benefits were definitely better before New York became involved.
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Old 07-20-2019, 01:26 PM
 
Location: Weirton, W. Va.
322 posts, read 122,030 times
Reputation: 212
Quote:
Originally Posted by SteelCityRising View Post
I work for the city.

I receive 10 paid vacation days per year. That goes up to 15 days upon 5 years of service and 20 days upon 10 years of service.

We receive 4 hours of personal time per pay month (6 personal days per year).

We receive 10 paid holidays. (New Year's Day, Dr. Martin Luther King Jr. Day, Good Friday, Memorial Day, Independence Day, Labor Day, Veterans' Day, Thanksgiving, Day After Thanksgiving, and Christmas Day).

We don't receive sick time, which is ironic considering city council is about to pass legislation requiring all employers in the city to offer paid sick time.

I used to think my PTO was very generous until reading this thread. Now I wonder what the "perk" is of working for city government if we receive below-average salaries, below-average PTO, and no guarantee of receipt of our pension upon retirement?
Does your pension have a social security offset too. Plus when are you vested into a pension? If you have a social security offset it means your pension payment could be reduced by 1,000. If thatís the case you are putting more money into it than you will ever see. If you get a 1,000 a month social security and 2,000 pension. You will only get 2,000 a month combined from both.

When private companies discontinue a pension when you still have years to work. You should take the pension lump sum and roll it over into an IRA so it can grow.

Roth 401k is the best for me as a high income earner. I put in 15 percent post tax with a 6 percent company match. A Roth 401k is better than a traditional. It canít be taxed again. It grows tax free. You donít pay taxes on it as income when you retire.
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Old 07-20-2019, 02:23 PM
 
Location: Pittsburgh
5,922 posts, read 7,041,818 times
Reputation: 8689
Quote:
Originally Posted by pittsburghaccuweather View Post
I put in 15 percent post tax with a 6 percent company match.

Pitt has 150% match.
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Old 07-20-2019, 02:26 PM
 
Location: Lawrenceville, Pittsburgh
1,891 posts, read 1,548,892 times
Reputation: 1656
Quote:
Originally Posted by pittsburghaccuweather View Post
Does your pension have a social security offset too. Plus when are you vested into a pension? If you have a social security offset it means your pension payment could be reduced by 1,000. If thatís the case you are putting more money into it than you will ever see. If you get a 1,000 a month social security and 2,000 pension. You will only get 2,000 a month combined from both.

When private companies discontinue a pension when you still have years to work. You should take the pension lump sum and roll it over into an IRA so it can grow.

Roth 401k is the best for me as a high income earner. I put in 15 percent post tax with a 6 percent company match. A Roth 401k is better than a traditional. It canít be taxed again. It grows tax free. You donít pay taxes on it as income when you retire.
I realize this is off topic but as a PSA to everyone, a Roth 401k is not necessarily the best choice of retirement vehicle, especially for a high income earner who is presumably paying relatively high marginal rates and may be limited in deductions. The decision to go Roth vs Traditional is essentially a bet or prediction of tax rates now vs in the period when you are drawing down. Please no one take this as a substitute for professional financial advice.
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Old 07-20-2019, 02:46 PM
 
Location: Weirton, W. Va.
322 posts, read 122,030 times
Reputation: 212
Quote:
Originally Posted by Moby Hick View Post
Pitt has 150% match.

Who are they?


Quote:
Originally Posted by WhoIsStanwix? View Post
I realize this is off topic but as a PSA to everyone, a Roth 401k is not necessarily the best choice of retirement vehicle, especially for a high income earner who is presumably paying relatively high marginal rates and may be limited in deductions. The decision to go Roth vs Traditional is essentially a bet or prediction of tax rates now vs in the period when you are drawing down. Please no one take this as a substitute for professional financial advice.
Everybody has their own opinions.

https://www.google.com/amp/s/www.cnb...-it-works.html
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Old 07-20-2019, 03:15 PM
 
481 posts, read 189,150 times
Reputation: 199
In today's environment I think 401k and such are better than pensions given lower pensions and issues with funding. I mean the pensions of old were you'd get 75% of your salary as a pension, I'd love to have something like that but they are unrealistic to offer.


As for what type of vehicle, I worked in finance for 8 years. The best option really depends on each persons specific circumstances and likely situation at retirement. I have a Roth 401k since I am in a lower bracket right now and most likely will be in a similar bracket come retirement. Even if you are a high earner, it depends on when you plan to retire. Personally I'd rather not take a tax break on $19k this year to save 6k this year vs even at an average growth of 7% in 20 years would be 75k so whatever tax bracket you are likely paying more. Also I am no longer a licensed broker so not advice since as I said it is very specific to one's goals and risks. I also make no where enough to save 19k or be in a 30+% bracket.
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Old 07-20-2019, 03:59 PM
 
Location: Pittsburgh
5,922 posts, read 7,041,818 times
Reputation: 8689
Quote:
Originally Posted by pittsburghaccuweather View Post
Who are they?
The biggish school in Oakland, up the street from where Islay's used to be.
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Old 07-20-2019, 10:19 PM
 
Location: Pittsburgh
318 posts, read 321,223 times
Reputation: 404
15 paid vacation days(begins at 5 year mark-is 7 days for newbies-everything else is the same)
11 paid sick days
11 paid holidays
4 paid personal days
medical
pension (must be there 5 yrs to become vested)




Been at this job 10 yrs. We used to get a bump up to 20 days @ 10 yrs, but now not until 15 years.
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