I've always pulled up under the light and turned on yellow once I ensure the other cars are actually planning on stopping, which has saved me from more than a few accidents when they didn't.
Big pet peeve of mine is the left turn arrows that turn red and they expect you to sit there and wait while there is literally not a car in sight coming the other direction. This happens regularly at the entrance to the 90 off Transit road.
I check for police and then just turn. No time to be waiting for minutes for no reason. Dumbest thing of all time...should always be a blinking yellow in thos situations.