Quote:
Originally Posted by Skoidat69
Quote:
Originally Posted by DougVA
Correct me if I'm wrong, but I believe 3@50 is for law enforcement. Other Federal employees generally get 1.7% of highest salary (actually, average of the highest three years of salary) as pension.
As a former non-law enforcement Federal retiree, I'll just say that 3@50 is not enough for the law enforcement officers I worked with. It's hard to quantify putting your life on the line day in, day out.
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Most federal employees get 1% per year worked x avg of high 3 (if you are 62 with atleast 25 years, your new multiplier is 1.1%). If you are a special category then you have a different multiplier or (s).. LEO or Executive branch and Dept of State or certain 3 letter non-Dept of Defense agencies pay different rates for length of overseas assignments. |
Shit, here in CT the state cops rape the pension. My city transferred my pension under the state in other words we are in the pension as the state cops. They get 50% of their 3 highest years including OT. Most will load up the last 3 years making over 200k resulting in a 100k pension for 25 years of service. As a fireman we can't get that much overtime… hell we don't even get 1.5 when we work OT unless we are in FSLA. My base is 80k as a PVT and the most money I could make if I took every OT available would be 125k. You have state portal men make near 300k. The pension was not designed to double your retirement payout. Fiscally impossible to pay a trooper 100k after 25 years to sit home. I believe it should be capped and the figure take into account the number of years of service.