Any Kaiser (TPMG) docs here?

[PenguinMD]

I get it now. I was mixing the acronyms.

I thought DCP was Deferred Comp Plan whereas you're defining it as Defined Comp Plan.

Typically in a Deferred Comp Plan you're deferring pre-tax dollars which is completely different then doing the non-deductible contributions and then mega Roth rollover.

Does UC allow any deferred comp options? Seems a better tax strategy then the mega roth rollover but if you're pulling in big bucks are people doing both? Deferred comp plus mega Roth rollovers?

[StarTrekDoc]

Alas;  UC doesn't pay that much!   That said,  between 403b, 457, and DCP,   that's 18k, 18k, 50k = 86k in retirement dollars in addition to a nice pension plan.  If you max out all that, you'll be doing just fine, IMHO.

 

[PenguinMD]

UC salaries don't look too bad:

http://www.latimes.com/local/lanow/la-me-ln-uc-pay-20150729-story.html

https://ucannualwage.ucop.edu/wage/

Allways find it striking that poor fellows are making $30k in a place like LA and their attendings are making 10x, not to mention they still need to pay for parking .

[welker]

wow, I've thought about Kaiser for job (EM) as well. Sounds like their benefit package is not a bad deal at all with all these tools for potential tax deductions and ability to do mega back-door roth. Honestly if their pension plan does pay out, their total compensation package is not too shabby. good info in this thread

[StarTrekDoc]

You won't go wrong with either Kaiser or the UC system--but different stripes with different issues.    @Penguin - Hard work and poor pay has always been on the back of residents and fellows -- hasn't changed unfortunately over the years and pendulum swinging back to higher hours again.

They both have very good benefit plans, but Kaiser is the leader in the front by a good margin.

 

[OncDoc]

duplicate

[OncDoc]

@StarTrekDoc-- How is after tax DCP limit $50k?  I thought it would be $54k (total 401a limit in 2017) minus $18k (403b contribution) = $36k?

[StarTrekDoc]

OncDoc wrote:

@StarTrekDoc– How is after tax DCP limit $50k?  I thought it would be $54k (total 401a limit in 2017) minus $18k (403b contribution) = $36k?

Click to expand...

You're right.  I've never max'd out to find out since building the taxable fund to payoff the mortgage these past few years.  Luckily you catched that for me.  I have to adjust downwards now!

 

415c limit 2017 = $54k.  - This is ALL contributions (both employer and employee) for: 403b (individual limit 18k) and 401a (individual limit 53k)

457 limit 18k doesn't count since not under 415c code

[OncDoc]

Agree 100% with the math on the most recent post-DCP is quite nice that way

[OncDoc]

StarTrekDoc wrote:

OncDoc wrote:

@startrekdoc– How is after tax DCP limit $50k?  I thought it would be $54k (total 401a limit in 2017) minus $18k (403b contribution) = $36k?

Click to expand…

You’re right.  I’ve never max’d out to find out since building the taxable fund to payoff the mortgage these past few years.  Luckily you catched that for me.  I have to adjust downwards now!

 

415c limit 2017 = $54k.  – This is ALL contributions (both employer and employee) for: 403b (individual limit 18k) and 401a (individual limit 53k)

457 limit 18k doesn’t count since not under 415c code

Click to expand...

Does anyone know if a solo 401k based on a different income source (1099 consulting) is included in the 54k limit (which is mainly driven by my W2 income)?

[Phoenix18]

Hi everyone, I apologize if this was asked before.
I am a early career doc Who just signed on with Kaiser. There is an opportunity to take a $75,000 loan which will accumulate interest at the federal rate. If I stay with Kaiser for seven years, I get to keep the loan. I am not sure if I will be staying for seven years yet because I'm still single and I may or may not end up moving for my future spouse. At this time I would estimate the chances of me staying at around 40%. Can anyone advise me about whether to take this loan? I'm thinking that I could invest it and pretty much break even, but I wanted to see others perspective. Thanks.

[Hank]

Taking out a loan with the hope to just break even doesn't seem like a great idea.  $75K in free money if you were going to stay with Kaiser anyway does seem like a good idea.

Do you have $75K or more in student loan debt (or personal loans, credit cards, etc.)?  Have you already refinanced your student loans to as low of a rate as you can obtain?

In principle, I like the idea of using a $75K loan at the federal funds rate to retire $75K in non-dischargeable student loan debt at a higher interest rate.  I'm not sure I'd like the idea of taking a $75K loan from Kaiser, investing it all in equities, watching the market drop by 50-60% and then not being able to leave Kaiser when you really want to go.  On the other hand, with a decent emergency fund and an offer for a higher paying job other than Kaiser, you probably can pay off the loan and tell Kaiser to pound sand even at the bottom of a down market.  Probably.

[EH]

If it's still a 1% interest rate you could just put it in an ally or capital 360 account and break even...

[AR]

This is free money.  There is absolutely no reason not to take it unless you intend to light it on fire.

[Tri2Fly]

For other TPMG docs, what are you using to create a 3 fund portfolio?  I know there is Brokerage Link, but what standard funds have people used?