mard Posted May 3, 2014 Share #3426 Posted May 3, 2014 ???????????????? can't wait Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
Brownhornet78 Posted May 3, 2014 Share #3427 Posted May 3, 2014 ???????????????? can't wait Sent from my iPhone using Tapatalk Soon my brother!!!! Link to comment Share on other sites More sharing options...
Allday Posted May 3, 2014 Share #3428 Posted May 3, 2014 Big derailment on the F train in Queens early this morning! WOW!! Link to comment Share on other sites More sharing options...
SubwayGuy Posted May 3, 2014 Share #3429 Posted May 3, 2014 (edited) Hey Subway Guy, I hate to be a burden but I have so many questions. Would my military time count towards retirement? Would you know off hand? Yes it counts as paying into the pension, and towards your benefits...however, military service time does not qualify as TA service time. You will still need to do at least 25 years of service at TA to qualify for the full pension, or at least 5 years TA service to vest your pension for the 62/5 option if you are starting your career late and 25 years of TA service is not realistic for you. Additionally, regardless of prior military service, you cannot collect your benefits earlier than 55 years of age (if doing the 25/55) or 62 years of age (if doing the 62/5), period. If you have to "buy back" any service time do so as soon as possible, it costs you money to wait to do so. Edited May 3, 2014 by SubwayGuy Link to comment Share on other sites More sharing options...
depmaze Posted May 3, 2014 Share #3430 Posted May 3, 2014 Shout out to Mrs.Schwan. Not sure if I spelled it right. lol. Link to comment Share on other sites More sharing options...
Brownhornet78 Posted May 3, 2014 Share #3431 Posted May 3, 2014 Shout out to Mrs.Schwan. Not sure if I spelled it right. lol. ^^What he said^^ Funny cause I shouted him out yesterday after school. But I did it anonymously... Lol Link to comment Share on other sites More sharing options...
Allday Posted May 3, 2014 Share #3432 Posted May 3, 2014 Yes it counts as paying into the pension, and towards your benefits...however, military service time does not qualify as TA service time. You will still need to do at least 25 years of service at TA to qualify for the full pension, or at least 5 years TA service to vest your pension for the 62/5 option if you are starting your career late and 25 years of TA service is not realistic for you. Additionally, regardless of prior military service, you cannot collect your benefits earlier than 55 years of age (if doing the 25/55) or 62 years of age (if doing the 62/5), period. If you have to "buy back" any service time do so as soon as possible, it costs you money to wait to do so. thanks again Subway guy. Unfortunately I'll be started my Transit career at the age of 45 so there's no way in the world I'll be working until age 70. Reason being is I got 20 years at the post office, and for the last 5 years it's been downhill. Hence the reason why I applied for transit train operator test. I just see more opportunities in transit than the post office, which is a dead-end job. I felt I just had to make this move will I'm still physically able to do so. Link to comment Share on other sites More sharing options...
trainman Posted May 4, 2014 Share #3433 Posted May 4, 2014 Can a MTA employee please answer this ques. Just curious, do you get a Christmas bonus or any bonus for that matter?? Link to comment Share on other sites More sharing options...
MTAhopefullMatt Posted May 4, 2014 Share #3434 Posted May 4, 2014 What does 62/5 mean? That you need to work for Transit at least 5 years and be at least 62 years old to collect a pension? And if you work 20 years and retire at 65 years old, would that be a pension of 40% of your average annualized earnings? Link to comment Share on other sites More sharing options...
SubwayGuy Posted May 4, 2014 Share #3435 Posted May 4, 2014 What does 62/5 mean? That you need to work for Transit at least 5 years and be at least 62 years old to collect a pension? And if you work 20 years and retire at 65 years old, would that be a pension of 40% of your average annualized earnings? There are two pensions at Transit. 25/55 The first is 25/55. You must work at least 25 years of service to be eligible for this pension. Then you must be at least 55 years old to begin collecting. Upon retiring with exactly 25 years of service and beginning to collect your pension, you will earn 50% of your "best of calculation" annually. NOTE: I'm not going to specify what comprises the "best of calculation" because it is different for the new people under Tier 6 than for us who are under Tier 4, however, I will say that it generally reflects your highest earning years at Transit. So if in your X best years used for the calculation, you make exactly $100,000, with 25 years of service, your pension will be $50,000 annually, but I'm just making up numbers here to explain the 50% piece. For each additional year of service between 25 and 35 years of service, the percentage goes up by 1.5%. Thus at 35 years of service, the percentage of pension calculation will have gone up to (and maxed out at) 65% of the "best of calculation". So the same example above, assume 35 years of service instead of 25, same other numbers, and their pension is $65,000 annually. Staying beyond 35 years costs you money, as it doesn't increase the amount further. This is intentional, as it drives turnover and makes room for the new people. But some stay beyond 35 anyway. This income will be added to your other sources of retirement income: social security (when eligible), 401k/457, personal traditional and Roth IRAs, and any annuities you've invested into, and that will make up your retirement income. 62/5 To be eligible for this pension, you must work at least 5 years at Transit to vest. This money will then be held for you, and you cannot collect it until you are 62. I don't know the calculations for it to be honest, perhaps someone else here does. No Pension If you work less than 5 years at Transit, your pension money will be refunded to you upon termination. If this is the case, I'd strongly recommend rolling it over into another type of tax deferred retirement account, as if you take it in cash you will be taxed. Link to comment Share on other sites More sharing options...
Allday Posted May 4, 2014 Share #3436 Posted May 4, 2014 So can I turn over my postalTSP account to my MTA retirement plan? Link to comment Share on other sites More sharing options...
NYTech2000 Posted May 5, 2014 Share #3437 Posted May 5, 2014 There are two pensions at Transit. 25/55 The first is 25/55. You must work at least 25 years of service to be eligible for this pension. Then you must be at least 55 years old to begin collecting. Upon retiring with exactly 25 years of service and beginning to collect your pension, you will earn 50% of your "best of calculation" annually. NOTE: I'm not going to specify what comprises the "best of calculation" because it is different for the new people under Tier 6 than for us who are under Tier 4, however, I will say that it generally reflects your highest earning years at Transit. So if in your X best years used for the calculation, you make exactly $100,000, with 25 years of service, your pension will be $50,000 annually, but I'm just making up numbers here to explain the 50% piece. For each additional year of service between 25 and 35 years of service, the percentage goes up by 1.5%. Thus at 35 years of service, the percentage of pension calculation will have gone up to (and maxed out at) 65% of the "best of calculation". So the same example above, assume 35 years of service instead of 25, same other numbers, and their pension is $65,000 annually. Staying beyond 35 years costs you money, as it doesn't increase the amount further. This is intentional, as it drives turnover and makes room for the new people. But some stay beyond 35 anyway. This income will be added to your other sources of retirement income: social security (when eligible), 401k/457, personal traditional and Roth IRAs, and any annuities you've invested into, and that will make up your retirement income. 62/5 To be eligible for this pension, you must work at least 5 years at Transit to vest. This money will then be held for you, and you cannot collect it until you are 62. I don't know the calculations for it to be honest, perhaps someone else here does. No Pension If you work less than 5 years at Transit, your pension money will be refunded to you upon termination. If this is the case, I'd strongly recommend rolling it over into another type of tax deferred retirement account, as if you take it in cash you will be taxed. How does staying over 35 years start costing you money? Link to comment Share on other sites More sharing options...
SubwayGuy Posted May 5, 2014 Share #3438 Posted May 5, 2014 (edited) How does staying over 35 years start costing you money? Because you're not increasing your annual pension amounts further for your future calculation for when you actually do retire. Meanwhile you are eligible to collect (since any train operator with 35 years of service would be 55 years of age, barring an extremely unlikely circumstance), but not collecting. Therefore you are effectively foregoing that money forever with no future compensation as a result. The extremely unlikely circumstance is someone getting called before their 20th birthday, in which case they have to exceed 35 years just to reach 55 years of age in order to be eligible to collect. Otherwise, as above, you are foregoing your hard earned retirement money by continuing to work. Edited May 5, 2014 by SubwayGuy Link to comment Share on other sites More sharing options...
MTAhopefullMatt Posted May 5, 2014 Share #3439 Posted May 5, 2014 Subway Guy, thanks for the info. I definitely appreciate it. If I do get hired I'll be in my mid 40s by the time I start. 20 years should be doable but 25 may be a stretch. Link to comment Share on other sites More sharing options...
RTOMan Posted May 5, 2014 Share #3440 Posted May 5, 2014 Can a MTA employee please answer this ques. Just curious, do you get a Christmas bonus or any bonus for that matter?? Longevity check after 15 years that's it.. For hourlies in RTO not sure about anything else.. Link to comment Share on other sites More sharing options...
Allday Posted May 5, 2014 Share #3441 Posted May 5, 2014 Subway Guy, thanks for the info. I definitely appreciate it. If I do get hired I'll be in my mid 40s by the time I start. 20 years should be doable but 25 may be a stretch. i'm in the same boat. Link to comment Share on other sites More sharing options...
MTAhopefullMatt Posted May 5, 2014 Share #3442 Posted May 5, 2014 Does anyone know what's the (roughly) most recent list # called for screening? I know I will get called when/if the MTA chooses, on their timeline, but I still can't help wondering how the list is progressing. Link to comment Share on other sites More sharing options...
LeonDoub Posted May 5, 2014 Share #3443 Posted May 5, 2014 Does anyone know what's the (roughly) most recent list # called for screening? I know I will get called when/if the MTA chooses, on their timeline, but I still can't help wondering how the list is progressing. Tomorrow officially the last appointed will be known. Unless something changes. 1886 for Feb, 2133 for March, ......let's see for the month of April Link to comment Share on other sites More sharing options...
Brownhornet78 Posted May 5, 2014 Share #3444 Posted May 5, 2014 Ok, last day in the gym, now the fun begins. All C/R's and T/O's split up, now it's just the individual classes going out to different yards to do training!!! YES!!!! Link to comment Share on other sites More sharing options...
mard Posted May 5, 2014 Share #3445 Posted May 5, 2014 ???????????????????? Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
trainman Posted May 6, 2014 Share #3446 Posted May 6, 2014 Question for those who filled out the 10-page-booklet send to your home when you are called for the drug test and the 21-page-booklet you get after taking the drug test. What kind of questions are asked about your last job? Do they want the owners name or your supervisors name?? Do they ask for the address? Last, but not least what other info do they want to verify you worked there? Link to comment Share on other sites More sharing options...
Brownhornet78 Posted May 6, 2014 Share #3447 Posted May 6, 2014 Question for those who filled out the 10-page-booklet send to your home when you are called for the drug test and the 21-page-booklet you get after taking the drug test. What kind of questions are asked about your last job? Do they want the owners name or your supervisors name?? Do they ask for the address? Last, but not least what other info do they want to verify you worked there? Best advice.... Go to S/S and pay $102.00 get a print out of your work history. Yes they want EVERYTHING since high school. Good luck!! Hope this helps. Link to comment Share on other sites More sharing options...
LeonDoub Posted May 6, 2014 Share #3448 Posted May 6, 2014 Does anyone know what's the (roughly) most recent list # called for screening? I know I will get called when/if the MTA chooses, on their timeline, but I still can't help wondering how the list is progressing. The last list # officially appointed - next week. DCAS is getting slower and slower..... Link to comment Share on other sites More sharing options...
MTAhopefullMatt Posted May 6, 2014 Share #3449 Posted May 6, 2014 The last list # officially appointed - next week. DCAS is getting slower and slower..... As long as they eventually get to us I don't mind. think updating the list numbers is probably the last thing on their to do list. Link to comment Share on other sites More sharing options...
Brownhornet78 Posted May 6, 2014 Share #3450 Posted May 6, 2014 Went to corona to learn switches. Link to comment Share on other sites More sharing options...
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