1811 Retirement

[DonutEater]

Wow, that absolutely sucks! After 25 years with the county I get 75% of my salary.

Yes, the FEDS are far behind most city, county and state retirements. FYI; Most public safety officers in CA fall under the PERS public safety employees pension. It is actually as secure, if not more secure, as the FED system. My brother will retire in 5 years as a Cap't. He will make around $105K a year plus full medical/dental for life. He will only be 51 years old.

I know of no private company offering the same. It is a great recruitment incentive. My retirement will be a bit lower as the departments pay is lower. But when I retire at 56, I have no real intention of actually doing nothing.

[BP348]

if you are considering the International Funds under TSP, they are not DOING WELL at all ....

Not doing well?:confused: this is from TSP.gov and is for the year

FUND:
G - 4.49%
F - 2.40%
C - 4.96%
S - 10.45%
I - 13.63%

In my book 13.63% for the year is a pretty good return. It's not the 18 - 20 % we were seeing a few years ago but it's still pretty good.

[SHSURobert]

Does anyone have any opinions about the Texas DPS Retirement System? I'm trying to figure out the differences between all the differing agencies and what's best for my family and I. This thread helped me to FINALLY understand Federal Retirement a little better.

Texas DPS - This was the info given to me by a Trooper on another board: All commissioned officers contribute 6% of each check to the retirement system. The State contributes another 6%. Your retirement is determined by the amount of years you work, not the percentage of your contributions. When you retire from the Department, you currently get 2.8% of your current salary for every year you were commissioned. That means if you work 30 years, 30 X 2.8 is 84. 84% is your base. You get to add another 2% for your non commissioned time.(Academy time) He also mentioned adding sick time and another 6% after not contributing to the system any longer (not sure what this means). - Does this sound like a pretty good deal? With this example you'd be getting 84% of the current base salary? Sounds OK to me. I don't know what kind of taxes are involved. Plus, I believe you have to have a combined age and service time of 80.


As an aside: I can't find anyone, including the recruiting people at HPD to help me understand their retirement system. If anyone knows how local police agencies do things, I could use the information.

Great thread.

Thanks,

Robert

[Nole795]

Does anyone have any opinions about the Texas DPS Retirement System? I'm trying to figure out the differences between all the differing agencies and what's best for my family and I. This thread helped me to FINALLY understand Federal Retirement a little better.

This is getting way off topic and should be in a different thread in a separate area of the forum.

I did find this link for you though to help you out: http://www.ers.state.tx.us/Retiremen...ligibility.htm

Here is also a website to help you out as well:
http://trooperpay.net/Services.asp

and

http://policepay.net/Default.asp

Hope this helps in your comparison.

[SHSURobert]

Thanks for the websites, especially the first one. I've been to the other two. I'm going to post a thread strictly about Houston PD retirement in the appropriate forum and see if anyone knows how they work. HPD recruiting and HR aren't helping me and I can't find the information on the internet, yet at least.

Thanks again,

Robert