multiple SAVEPOINTs without RELEASE SAVEPOINT

Is there any penalty for repeatedly doing
    SAVEPOINT eugene
without a corresponding
   RELEASE SAVEPOINT
?

In my case, I have a table with a unique index constraint.  Multiple
processes will be trying to "create or lookup" a record, so trapping the
unique index constraint seems the most robust way to detect if the record
already exists.  The overall structure I'm using (in pseudo-Ruby syntax):

  begin
    response = execute("SAVEPOINT eugene;
                                 INSERT INTO symbols (name) VALUES
('#{name}') RETURNING id")
  rescue
    # arrive here on a constraint violation if the name already existed
    response = execute("ROLLBACK TO SAVEPOINT eugene;
                                 SELECT id FROM symbols WHERE symbols.name =
'#{name}'")
  ensure
    # is this RELEASE strictly required?
    execute("RELEASE SAVEPOINT eugene")
  end

(On a related note, would I be better off using advisory locks?  And would
that be sufficient in the face of multiple processes?)


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