Pay (FAQ)

25 years is basically a 39% pension for ATC. 20*1.7% then 5*1%. 39% of 140k is roughly 54,600 a year without accounting for any decrease in electing survivor benefits.

If you got 280k, and then withdrew at say 5% a year, as that is a normal assumption, you would be getting out only 14,000 a year. However, this would be tax free since it would just be your investment account.

I wouldn't withdraw anything from the 280k. It would stay in the market, continuing to earn the historic 9%. I have no way of accessing more than 54,600 a year from the pension fund.

Does that 278k number account for possible capital gains taxes over the course of 20 years?

No, capital gains would be roughly 15% of the amount if I sold, which I wouldn't. Does your 54600 a year account for income tax? Or is the pension tax free?

It’s tough to beat the pension, assuming it’s still around and not messed with.

My life expectancy isn't much past 60. I would much, much rather be able to opt out.

If I did this for 25-30 years and got my money into the good funds then I wouldn't need the pension

Bingo. I don't need the pension either, and I probably won't be able to receive payments very long.
 
No, capital gains would be roughly 15% of the amount if I sold, which I wouldn't. Does your 54600 a year account for income tax? Or is the pension tax free?
If you're just investing your own money in the stock market, doesn't matter if you sell or not, you have to pay long term capital gains (or get credited for losses) tax every year.
 
Not sure if this was addressed...but if I'm near the top of a band and ERR to a higher facility whose CPC base is only a few hundred more...am I screwed or will HR take that in to consideration when offering the new position/facility
 
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not sure if this answers your question or not.
 
If you're just investing your own money in the stock market, doesn't matter if you sell or not, you have to pay long term capital gains (or get credited for losses) tax every year.

You don't pay capital gains on investments if you don't sell. In this case, when he does sell, 20 years later he will be paying long term capital gains as he has held it for 1+ years.
 
You don't pay capital gains on investments if you don't sell. In this case, when he does sell, 20 years later he will be paying long term capital gains as he has held it for 1+ years.
I stand corrected. I've only ever dealt with short term gains/losses. I'm surprised Uncle Sam is comfortable letting you become rich on paper without taking a cut until you cash out year or decades later. Of course you are taking a risk that the long term capital gains tax rate might be much higher by the time you go to collect your $$$ in 20 years
 
Only change in pay is locality.
Unless you're above the 11 band. Then you'd go down to the top of the 11 band

Going from a lvl 12 to lvl 11? How would the pay work?
There's not enough info here.
Look at your eOPF. If your basic pay is within the 11 basic band then you'd "save pay". However your base salary listed on your pay stub will change based on locality. So if you go from a 12 rest of u.s. (Rus) locality to an 11 25% locality your save pay will result in a ~10% raise. If you go from a 12 25% locality to an 11 rus locality then your save pay will result in a ~10% pay cut.
 
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I (CPC) swapped from a 10 to a 7 this month, so I’m at the top of their band. But it looks like they’ll be getting a facility upgrade to an 8 soon.
Had I waited to swap until after their an 8, I’d be at the top of that band. Bummer, but that’s how the cards fell.
So if the facility upgrade happens, am I getting a 4% raise? And would bring in training or getting certified have any bearing on another pay raise?
 
Page 210 of the slate book Section. Article 108.

Section 10. Facility Pay Level Increase.
a. CPCs/TMCs/TMSs in a facility whose ATC FPL increases will have their Basic Pay increased by six percent (6%) for each level the facility is raised up to the new pay band maximum or to the new pay band minimum, whichever is greater.

You will pretty much be bumped to the top of an 8, so no loss either way.
 
Thanks for the info fellas. Quick question a buddy of mine asked me how the “keep your pay” works from transferring from a level 12 to a 10 but I’m not sure where to find that in writing. Can anyone help me out?
 
Thanks for the info fellas. Quick question a buddy of mine asked me how the “keep your pay” works from transferring from a level 12 to a 10 but I’m not sure where to find that in writing. Can anyone help me out?
If your current pay at the level 12 (without locality) fits into the level 10 CPC payband (also without locality), then your basic pay remains the same.
If you take a supervisor job and it's no more than a 3 level decrease (career progression), you will be eligible for a 0-15% pay raise, even if it puts you above the top of the MSS-2 band. If it's a 4 or more level decrease (career enhancement), you'll keep your pay for 3 years, and then drop to the top of the pay band.
 
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If your current pay at the level 12 (without locality) fits into the level 10 CPC payband (also without locality), then your base pay remains the same.
If you take a supervisor job and it's no more than a 3 level decrease (career progression), you will be eligible for a 0-15% pay raise, even if it puts you above the top of the MSS-2 band. If it's a 4 or more level decrease (career enhancement), you'll keep your pay for 3 years, and then drop to the top of the pay band.
Thank you I understand this but where is it written? My buddy is thinking about transferring from a 12 to a level 10 and it would fit in the pay band.
 
Thank you I understand this but where is it written? My buddy is thinking about transferring from a 12 to a level 10 and it would fit in the pay band.
Article 108.
d. CPC transfer to a lower level facility:
(1) Voluntary: Basic Pay is set at the current Basic Pay if it falls
within the new CPC pay band. If current Basic Pay is higher
than the top of the new band, Basic Pay is set at the top of the
CPC pay band.
 
I'm aware that I'm very much ahead of myself (I'm only in basics at the moment), but—I'm drawing up a spreadsheet to calculate actual expected paychecks, and I'm curious about this line in the Premium Pay FAQ:
Percentages are cumulative, multiplied by base pay.
Does "cumulative" mean they add together or multiply together? If someone with $100/hr base pay was working overtime on a Sunday, say, would they get:
$100*1.5*1.25 = $187.50/hr
or would they get:
$100 + $100*0.5 + $100*0.25 = $175/hr

If it's the first way, that makes the spreadsheet a lot more complex...
 
yup like Swampdonkey said, dont get ahead of yourself. Money is a nice motivator, but you need the job to get the money. Get past academy, then probation, the get your first ticket, those are far bigger priorities than anything else for someone starting out.
 
Oh I definitely know this is premature, I just whipped something up to estimate my Academy paycheck and while I'm at it I thought I'd go whole hog. I like setting little projects like this for myself, and then when I do them I want them to be as complete and accurate as possible. That's all. Thanks SwampDonkey!
 
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