cops in california might get 100% pension

[driven21m]

SACRAMENTO -- A stalled, highly controversial bill boosting local and state public safety employee pension caps to 100 percent of workers' final salaries has been quietly resurrected and is advancing at the 11th hour of this year's legislative session.

The proposal, backed by at least one prominent Bay Area legislator but opposed by many cash-strapped cities, originally applied only to local police and firefighters.

It has now been broadened to also allow California Highway Patrol officers and state Department of Forestry and Fire Protection personnel to receive the same pension enhancement -- a move that follows their salary concessions in talks with the administration of politically embattled Gov. Gray Davis.

[zander_zye]

The state retirement formula for all state public safety officers in California is 3%/50. This means you can received up to a maximum of 90% of the average of your last three years salary for life (which is sometimes shorter than you think). There is no better pension for any common worker in any industry in the United States.

Of course this means you have to work 30 years to receive your max. The CDOC and CHP have a minimum age of 21 so you would have to be 51 to qualify. Not bad though - I will be lucky to retire at 70.

[spyman]

Originally posted by zander_zye
The state retirement formula for all state public safety officers in California is 3%/50. This means you can received up to a maximum of 90% of the average of your last three years salary for life (which is sometimes shorter than you think). There is no better pension for any common worker in any industry in the United States.

Of course this means you have to work 30 years to receive your max. The CDOC and CHP have a minimum age of 21 so you would have to be 51 to qualify. Not bad though - I will be lucky to retire at 70.

Some agencies fall under the 1937 Public Employees act, while other fall under what is called P.E.R.S. Not all LE agencies have the same reirement benefits in California.

[driven21m]

Yeah I know a good amount of law enforcment officers get 3% at 50 up to 90% but what that billwould of it passed is give cops in california the oppertunity to earn %100 rather than the %90. Which is very contraversial because no worker recieves %100 that is a crazy amount.

[Samuel]

We don't have 3@50. We also don't have a contract (again). We are looking at no pay raise and loss of some benefits/perks (like our uniform allowance). F$^&ing board of stuporvisors... :mad:

[zander_zye]

Originally posted by spyman
Some agencies fall under the 1937 Public Employees act, while other fall under what is called P.E.R.S. Not all LE agencies have the same reirement benefits in California.

They are bringing all STATE law enforcement into the same plan. Various muni's have their own rules

[mcsap]

PA has started usin the DROP pension. At the effective date of the officers retirement, ge/she starts receiving their pension as though they had retired but are still on the force. The money goes into an untouchable account for up to 4 years. At the end of the 4 years ( or sooner) , the officer actually leaves the department. They can then receive the pension funds from the untouchable account in a lump sum and continue collecting.

All police pensions ( at least in PA) assume that the officer will retire at the earliest possible age/date. The actuary uses that figure to properly fund the pension for the future. Every year an officer stays on the job , they are further fattening the pension. We have 5 officers currently past retirement.

[zander_zye]

A backlash has occurred recently due to the budget crises. All managers, which for the CHP and CDOC include anyone LT and above, received a 10% cut in pay. Because retirements are based on this base salary, a lot of managers are retiring now with between 20-29 years on the force instead of waiting for the entire 30. Additionally, some highly qualified SGT's are refusing to take the LT exam because they would actually make less money in the more stressful role. (a LT is probably the most stressful rank in the CHP because you pay middle man for both the upper ranks and the rank and file)

[spyman]

Originally posted by zander_zye
They are bringing all STATE law enforcement into the same plan. Various muni's have their own rules

I would agree with you about "state" agencies such as CHP,and DOC. Most of the muni and Sheriff's Office's have different retirement plans that the state cannot interfere with. Especially those under the 1937 retirement act.

[zander_zye]

Yup - that is true. In order to receive a 90% pension with the ACSD, you had to have 39 years in.

[Solego]

Here in the two season state of Florida, we have 3% for 25 years with an optional DROP, like PA, for five years. All State agencies and almost all Sheriff's Offices (we are not a department and I am not an officer (I'm a DEPUTY!!!)) fall under state retirement.

(Don't get me started on the whole department/officer thing.)