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monster on a stick posted:You're welcome, good luck. Maybe if your company is bigger they can look at Fidelity, they've managed my 401ks at various employers for a long time and I'm happy with them, good customer service too. I am also happy with Fidelity's 401(k). The thrilling conclusion: He was wrong when he said my fee was capped at $60. This is indeed a flat new cost to me. A coworker ran the numbers and it's more like 300% for him. (He's only been here ~1.5 years.)
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Feb 7, 2017 22:50
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H110Hawk posted:The thrilling conclusion: He was wrong when he said my fee was capped at $60. This is indeed a flat new cost to me. A coworker ran the numbers and it's more like 300% for him. (He's only been here ~1.5 years.) When I first started a job after college (about 15 years ago), the 401k average expense ratio was just a bit over 2%. I think the lowest was 1.67%. I finally got them to move it when I had about $200k in it, wasting ~$4000 per year on management fees.
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Feb 7, 2017 22:59
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Blinkman987 posted:Tech companies started giving paternity leave a few years back, so if you have the skills to work at a company that produces no physical goods and can make money at incredible scale, then they'll be so profitable that they'll use some of their obscene profits for paternity leave! Those extra profits are going directly to management bonuses, and you know it.
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Feb 7, 2017 23:58
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NancyPants posted:Bingo. I worked retail pharmacy and we had blackout periods during the day where no one took breaks and during the year when no one took PTO unless they were ill. Apart from that I always took regular breaks, reminded co-workers to also step out and get some air, and took time off because working yourself to burnout doesn't make you a better worker. It was the same way when I started working for hospital clinics and had some really white knuckle co-workers. Taking breaks and leaving work at work at the end of the day doesn't mean you don't care about it, it's self care. If you really do live to work, then justify it as a means to get more work done for longer. Interestingly, one of the big red flags that an employee might be engaged in embezzlement or fraud is that they don't take vacations (because they're afraid that their backup will figure out what they've been doing) which is why executives above a certain level at major financial companies are required to take at least one two-week vacation per year.
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Feb 8, 2017 06:34
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Powerlurker posted:Interestingly, one of the big red flags that an employee might be engaged in embezzlement or fraud is that they don't take vacations (because they're afraid that their backup will figure out what they've been doing) which is why executives above a certain level at major financial companies are required to take at least one two-week vacation per year. Working extreme overtime should also be a fraud red flag: http://www.sfgate.com/bayarea/article/BART-janitor-pay-270000-Powell-St-questions-10911932.php Depending on how long this janitor has been pulling off $200k+ years, this might wrap all the way back around to GWM for the janitor though!
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Feb 8, 2017 06:55
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Twerk from Home posted:Working extreme overtime should also be a fraud red flag: http://www.sfgate.com/bayarea/article/BART-janitor-pay-270000-Powell-St-questions-10911932.php Dude took 2 hours worth of breaks during a 17 hour day? What a lazy piece of poo poo!!!
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Feb 8, 2017 14:00
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I can't even be mad at him. Working 17 hour days, every single holiday, and weekends for an entire year as a subway janitor in San Francisco is not something I would do. Even for 200k (which included benefits) I've taken more than 2 hours of lunch + break in a single day on my 8 hour office job.
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Feb 8, 2017 15:14
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Powerlurker posted:Interestingly, one of the big red flags that an employee might be engaged in embezzlement or fraud is that they don't take vacations (because they're afraid that their backup will figure out what they've been doing) which is why executives above a certain level at major financial companies are required to take at least one two-week vacation per year. Did you make up this post because it really seems like you made this up. Never heard of it at any bank I ever climbed the ladder at.
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Feb 8, 2017 15:45
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Leon Trotsky 2012 posted:I can't even be mad at him. Wait, I just skimmed the article. Were they including those bullshit "benefits" that employers send out showing what they "paid" you above your salary? Like their contribution to social security and the amount they paid for your share of the healthcare plan and stuff?
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Feb 8, 2017 15:55
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Pryor on Fire posted:Did you make up this post because it really seems like you made this up. Never heard of it at any bank I ever climbed the ladder at. I can confirm that it happens in the UK - friend of mine in a relatively junior position had a company policy of a minimum block of 2 weeks of holiday every year. It was felt that you could possibly postpone a weekly report by a week to hide your dastardly dealings, but if you are away for 2 weeks, someone else will have to do your work during that time and you'd be found out.
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Feb 8, 2017 15:56
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Pryor on Fire posted:Did you make up this post because it really seems like you made this up. Never heard of it at any bank I ever climbed the ladder at. You did not get high enough on the ladder.
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Feb 8, 2017 15:57
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Solice Kirsk posted:Wait, I just skimmed the article. Were they including those bullshit "benefits" that employers send out showing what they "paid" you above your salary? Like their contribution to social security and the amount they paid for your share of the healthcare plan and stuff? Yes, they were calculating the total "cost" to the taxpayer because he was a BART employee.
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Feb 8, 2017 15:59
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Pryor on Fire posted:Did you make up this post because it really seems like you made this up. Never heard of it at any bank I ever climbed the ladder at. I've never worked in a place where it mattered but I've definitely heard about it as being a thing. Apparently happens with IT people too?
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Feb 8, 2017 16:19
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spog posted:I can confirm that it happens in the UK - friend of mine in a relatively junior position had a company policy of a minimum block of 2 weeks of holiday every year. Ah that makes more sense, minimum vacation time seems like a much more UK/Europe thing, here that would be seen as terrible and un-American
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Feb 8, 2017 16:19
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It happens in the US too.
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Feb 8, 2017 16:22
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Pryor on Fire posted:Did you make up this post because it really seems like you made this up. Never heard of it at any bank I ever climbed the ladder at. This definitely happens in the US also. I worked for a regional bank (and not high up, I was a credit card collector) and was required to take at least 1 week straight of vacation at some point during the year for compliance purposes.
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Feb 8, 2017 16:23
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Pryor on Fire posted:Did you make up this post because it really seems like you made this up. Never heard of it at any bank I ever climbed the ladder at. No, that is a thing. Where I'm at, it is supposed to apply to anyone in a management position, no matter where they are in the company. The only downside here is that the person who has this mandatory week off isn't given it extra, it comes out of their PTO pool. So after their week, they will only have 5 days they can take on their choosing.
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Feb 8, 2017 16:23
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^^ And that right there is the biggest problem with it. Agreed 100%.Pryor on Fire posted:Did you make up this post because it really seems like you made this up. Never heard of it at any bank I ever climbed the ladder at. I used to work at a bank and it was a mandatory 1-week vacation for everyone regardless of title. Monkeys that key in mortgages all the way to the CEO.
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Feb 8, 2017 16:33
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If it's not confidential or whatever do you know the names of any companies with that policy? Want to learn more. Is it actually spelled out why the vacation is mandatory or just implied?
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Feb 8, 2017 16:52
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Any investment bank
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Feb 8, 2017 16:55
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Submarine Sandpaper posted:Any investment bank Again I've worked at several IBs you've heard of that don't have this policy, so I'm looking for specific names or even better the actual text of the HR policy or contract. Gonna go deep on this one.
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Feb 8, 2017 16:57
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I worked for BMO Harris Bank. It was a spelled out policy. It was 2011 or so though, so I don't have anything in writing anymore.
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Feb 8, 2017 17:01
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Renegret posted:Apparently happens with IT people too? This is correct, though it's not just for embezzlement. It's also a business continuity thing (aka can we continue functioning if this goober get hit by a bus)
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Feb 8, 2017 17:02
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FDIC recommendation: https://www.fdic.gov/news/news/financial/1995/fil9552.html I don't know which banks use this but from Google it looks like at least a few do. Here in Canada I've also seen it mentioned in accounting & finance textbooks repeatedly, since any company's managers might embezzle, not just banks.
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Feb 8, 2017 17:04
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blugu64 posted:This is correct, though it's not just for embezzlement. It's also a business continuity thing (aka can we continue functioning if this goober get hit by a bus) hahaha fully staffed IT department hahahahahaha
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Feb 8, 2017 17:11
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Twerk from Home posted:Working extreme overtime should also be a fraud red flag: http://www.sfgate.com/bayarea/article/BART-janitor-pay-270000-Powell-St-questions-10911932.php Not only is a ton of official overtime standard practice, but the police routinely make deals for new off-duty overtime with places like churches to have police directing traffic into their parking lot. police unions contract for minimums of hours per quarter of paid support in exchange for official approval / blessing for things. double time for off-hours, triple time for holidays
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Feb 8, 2017 17:30
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Leon Trotsky 2012 posted:I can't even be mad at him. If I was a taxpayer in SF subsidising BART's annual $300MM revenue shortfall I might be kind of mad at this guy defrauding the overtime system (the article raises serious questions about the extent of his productivity on these marathons of 17 hour shifts) and further at BART for not taking the obvious step of staffing these shifts in a more cost effective manner since clearly they have an extreme need if employees are working in excess of 4,000 hours a year
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Feb 8, 2017 17:30
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Leon Trotsky 2012 posted:I can't even be mad at him. Would you rather have 2 coworkers doing 2 jobs, or 1 man who worked 4000 hours a year filling the same role? I just don't buy that anyone on the planet is as productive after more than 10 hours straight of working.
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Feb 8, 2017 17:57
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Twerk from Home posted:Would you rather have 2 coworkers doing 2 jobs, or 1 man who worked 4000 hours a year filling the same role? I just don't buy that anyone on the planet is as productive after more than 10 hours straight of working. Management shouldn't have allowed it to happen, but he's a janitor and there were no complaints about any of his results. If the opportunity is there to make 200k in a year working 358 days and sometimes 17 hours a day, then I don't begrudge him for doing it. I wouldn't work that much even if 12 of those 17 hours were just standing around the train station.
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Feb 8, 2017 18:03
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Leon Trotsky 2012 posted:Management shouldn't have allowed it to happen, but he's a janitor and there were no complaints about any of his results. This hustler only gets hassled because he's a minority working as a janitor.
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Feb 8, 2017 18:08
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EAT FASTER!!!!!! posted:This hustler only gets hassled because he's a minority working as a janitor. I didn't read the article but if it includes lunches it is probably an 18 hour say with 2 half hour lunch periods (in my state a second is required at 12 hours of shift length and no more than 6 hours between lunches) then you figure at least 4 or 5 10 min breaks; one every 2 hour period that is not separated by lunches. The only unusual thing here is how many hours he is working.
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Feb 8, 2017 18:23
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I would go through one hell year for $271,000 even though I make almost half that. I probably couldn't do it more than one year though. But it'd be nice to have a kind of mulligan for all the money I squandered away before I knew what I was doing.
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Feb 8, 2017 18:29
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Leon Trotsky 2012 posted:Management shouldn't have allowed it to happen, but he's a janitor and there were no complaints about any of his results. "The BART system is remarkably clean" - nobody
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Feb 8, 2017 18:31
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I learned just how shockingly bad with money a coworker is last night over drinks. 7/1 ARM which just started floating on a condo they are break even on right now since they bought at a high point in the bubble. They can just barely afford the payments + $400 HOA + $600 BMW payment + $500 student loan payment. He was asking for suggestions on how to get his mortgage payment down, I suggested he not buy $250 ping pong paddles off the internet, Rapha cycling gear, and sell the BMW X5 for a Honda CRV. The former two of those happened this month, the one we are 8 days into, and is indicative of his online spending addiction. Nope, I need the mortgage payment lower. I stopped trying and suggested he sink the ~$2500 to lock his mortgage rate through a re-fi.
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Feb 8, 2017 18:33
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therobit posted:I didn't read the article but if it includes lunches it is probably an 18 hour say with 2 half hour lunch periods (in my state a second is required at 12 hours of shift length and no more than 6 hours between lunches) then you figure at least 4 or 5 10 min breaks; one every 2 hour period that is not separated by lunches. The only unusual thing here is how many hours he is working. "I don't get paid breaks." - said angrily at the water cooler or getting coffee in the break room before commenting on news article from office computer
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Feb 8, 2017 18:38
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Leon Trotsky 2012 posted:Management shouldn't have allowed it to happen, but he's a janitor and there were no complaints about any of his results. actually the news crew that went to the station to investigate found a several very obvious cleanliness issues which they photographed and showed to the station supervisor who basically replied "they don't have time to clean everything" implying that this station somehow needs more than 4000 hours of cleaning time per year to not have dust and dirt under the handrails etc. Based on the timecards they acquired this employee claimed to have worked 17 hours every day or took 8 hours of paid leave any day he was not in the station, so to be clear although working 10+ consecutive 17 hour shifts truly strains belief that an employee could be productively working all of those hours he definitely had plenty of days off
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Feb 8, 2017 18:52
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Pryor on Fire posted:Again I've worked at several IBs you've heard of that don't have this policy, so I'm looking for specific names or even better the actual text of the HR policy or contract. Gonna go deep on this one. The brokerage firm I work for "strongly recommends" it for VP or above. It's on our internal HR page about vacation and sick leave. No, I'm not posting that here. I'm a ops peon, so I don't have that rule. But, it might be why I get 4 weeks off with pay once every 5 years (total vacation per year is 17 days, plus 10-ish for sick).
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Feb 8, 2017 18:53
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Seems like a good audit could do a better job than just making them leave for a week and hoping their fill-in finds suspicious poo poo
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Feb 8, 2017 19:26
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ate all the Oreos posted:Seems like a good audit could do a better job than just making them leave for a week and hoping their fill-in finds suspicious poo poo auditors don't find poo poo it seems. e.g. rita crundwell
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Feb 8, 2017 19:26
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mastershakeman posted:auditors don't find poo poo it seems. e.g. rita crundwell I wasn't familiar with her story, but turns out her more than $50 million embezzled was to support a horse habit. It's horses all the way down!
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Feb 8, 2017 19:31
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