Reply to Fed CPA considering a job in the private sector...How much money is worth giving up the stability?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I am a CPA in a niche field and regularly get multiple messages from recruiters. I am talking to one this week and possibly another next week. I am in the 4.4% pension deduction category.

[b]Total Comp at my current job is 124,846(approximately 109k base plus 15.5k pension)[/b]. I am not including the TSP match since most jobs provide a similar match to the FED 5%.

Seeking opinions. I wouldn't leave for less than my current comp, but what is the $$ you would leave the stability of the federal government given the option?[/quote]

Could you explain what the "plus 15.5k pension" means ?

If your base salary is $109,000 less 4.4%, your real base is $104,204. Is this correct ?

The stability of a federal job is worth about double your current base (as I do not understand the $15,500 pension that you added into your "total compensation".[/quote]

OP here,

I agree my real base is about 104k.

The 15.5K I include in my total comp is what my job pays toward my pension. It will pay out 36,000 a year when I am 57, if my income stays the same as it is now. This is separate from the 401K/TSP match.

Thats why I include it in my total compensation. If I had that extra money, Id invest it anyways. [/quote]

Thank you for responding to my question.

The issue is whether or not you are fully vested in the pension contribution. If not fully vested, then it should not be considered income yet. how long until vested and eligible to receive pension benefits ? TIA[/quote]

Already vested, but I’d have to stay for 25 more years to get the 36,000. It would be approximately $9,500 a year if I left now, but I’d have to wait 30 years.[/quote]

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