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    Conductor Exam 8094


    5473 replies to this topic

    #5471 JMA1982

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    Posted Yesterday, 04:59 PM

    it def do the direct deposit asap, I use to hate going to my pay location for a check ....

    JMA, hopefully you get your A division that you want, I know when I went in for T/O we got to choose our division but I think it went by list# and what ever was left couldn't choose


    Oh I am. I picked up the sheet today at 180 Livingston after orientation. The guy who hired me messed me up with that. Gonna fill it out when I get home.

    I hope so, too. It goes by your list number. I'm picking Flushing-Main Street as my pay location.

    Yes. Paycheck pickup is a strong incentive to get direct deposit. Oftentimes the nearest subway terminal to your house isn't anywhere close to where you actually live or your typical commute.


    Exactly. That's why I don't feel like doing all of that traveling when I can use that time for something more useful.
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    #5472 SubwayGuy

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    Posted Today, 04:34 AM

    when are you vested in the pension in mta? 5 years?

     

    yea I hear that matt, there is no future here at my job...just got to get use to the MTA life...schedule wise and dealing with the Public

     

     

    Five years for your pension & ten for your health benefits.

    This job is a breath of fresh air for me. I'm finally where I want to be.

    Same here.

    I'm getting a huge pay increase and better benefits.

    I just got married back in July and to get this job for me is huge!

    More OT for me the better!

    I can't to get on the road once School Car is over. Always hated being confined to one place.

     

    Hate to burst your guys' bubbles but...

     

    If you are Tier 6, you are not vested in the pension until 10 years of NYCERS credited service, and the benefit does not become payable until age 63.

     

    If you are Tier 4, then it's 5 years of NYCERS credited service, not payable until age 62.

     

    That's for partial vesting.

     

    Anything less than that amount of service and the cash value of your pension account will be paid out to you upon leaving, with earned interest. If you do not make the minimums for partial vesting, you will be ineligible to collect a pension benefit regardless of age, but you are eligible to have your contributions and interest refunded to you (expect to pay a penalty if you do not roll them into a tax deferred account like an IRA, however).

     

    For full vesting, both Tier 4 and Tier 6 are still 25 years of NYCERS credited service and 55 years of age for eligibility to collect, although there are differences in how the final averages are calculated and what the paycheck deduction to pay for each tier is.


    Edited by SubwayGuy, Today, 04:38 AM.

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    #5473 JMA1982

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    Posted Today, 04:38 AM

    Hate to burst your guys' bubbles but...

    If you are Tier 6, you are not vested in the pension until 10 years of NYCERS credited service, and the benefit does not become payable until age 63.

    If you are Tier 4, then it's 5 years of NYCERS credited service, not payable until age 62.

    That's for partial vesting.

    Anything less than that amount of service and the cash value of your pension account will be paid out to you upon leaving, with earned interest. If you do not make the minimums for partial vesting, you will be ineligible to collect a pension benefit regardless of age, but you are eligible to have your contributions and interest refunded to you (expect to pay a penalty if you do not roll them into a tax deferred account like an IRA, however).

    For full vesting, both Tier 4 and Tier 6 are still 25 years of NYCERS credited service and 55 years of age for eligibility to collect, although there are differences in how the final averages are calculated and what the paycheck deduction to pay for each tier is.


    Thank you. Then I was wrong. My fault.
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    #5474 SubwayGuy

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    Posted Today, 04:45 AM

    Thank you. Then I was wrong. My fault.

     

    No problem. Also, I should have highlighted "NYCERS credited service". There's a lag between when you get hired & when you get put in the pension system. Any time you work for TA but aren't contributing pension isn't bad time, but it will create a pension deficit that you can buy back. So someone who is nearing retirement age who hires on with TA to get a second pension by working 10 years, cannot just retire on their 10th anniversary and assume they got credit for all 10 years. They'll have to check with NYCERS who will most likely tell them they have to buy back their first month, where pension deduction probably wasn't being taken out of their check due to them still being put in the system.

     

    If they don't check and just retire, they may have just voided pension benefit eligibility.

     

    This situation described above also applies to time like if an employee is out on workman's comp.

     

    Only reason I say this is because you should try to fix any pension deficit ASAP, as it will avoid a lot of problems when you go to retire. Lots of people pick a retirement date in their mind, go down to NYCERS, find out all is not well, and either have to buy back time or for many of the old timers, NYCERS has to find their pay records to make sure their service time is complete and correct before locking in their pension benefit. Be on top of this stuff, treat it like a bank account, because no one's going to do it for you.


    Edited by SubwayGuy, Today, 04:45 AM.

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    http://www.stillmadeinusa.com/







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