94%

[What'dyabringmetoday???]

In my state retirees get 80 percent of their last 3 years in. Usually they beef up the overtime so when they leave it's a gravy train.

So you are referring to state employees, correct?

 

[Wally]

So you are referring to state employees, correct?

Yes. Of course the pension is in trouble.

 

[20togo]

After 34 years I get 65% of my last
40 hour work week. $400 for insurance for me and Wife.
If I had to pay $1200 for insurance I would by my lake house with my insurance money. Cash out all investment s and divorce my wife and we would still live together.
Grab some Obamacare.

 

[Jones]

After 34 years I get 65% of my last
40 hour work week. $400 for insurance for me and Wife.
If I had to pay $1200 for insurance I would by my lake house with my insurance money. Cash out all investment s and divorce my wife and we would still live together.
Grab some Obamacare.

Even with high insurance costs I still have money left over every month. It's all relative.

 

[Brownslave688]

My buddy retired from the county. He just turned 55.

He gets 94% of todays base pay for life with a very small drop down for the spouse when he expires. along with access to lifetime Cadillac health insurance that is virtually little cost to him.

Some people think that is extreme? Some not enough?

ME? It was negotiated contract's that led to this point. I am Happy for Him!

What Say YOU?

At what percentage is enough, enough or is it never enough?

1) I think what we get is a joke for how much is put in.

2) it’s not so much the percentage as the gaming the system. I know prison guards that make more in retirement than they did working 90% of their years. They soak up the OT the last few years and the whole retirement is based off that.

Seen teachers do the same. Take a big city admin job for the last few years and retire making way more. Here they get a 3% raise every year also. Both of my parents make more in retirement than they did working. Like a lot more.

 

[Wally]

In my state retirees get 80 percent of their last 3 years in. Usually they beef up the overtime so when they leave it's a gravy train.

Then they leave the state. Taxes too high for them.

 

[Shiftless]

I have two buddies, one Sheriff the other City Police and they have left Ca. and taken their retirement monies to other states.
Both citing hi taxes and cost of living. With their well paid retirement plans they live like KING'S! Don't blame them!

 

[Brownslave688]

I have two buddies, one Sheriff the other City Police and they have left Ca. and taken their retirement monies to other states.
Both citing hi taxes and cost of living. With their well paid retirement plans they live like KING'S! Don't blame them!

If you leave Illinois they tax they hell out of your retirement

 

[1989]

Could you imagine what our pension would look like if it wasn't based on 40 hours?

look much stronger with periodic pension increases once you retire

 

[IVE GOTTA PACKAGE 4U]

look much stronger with periodic pension increases once you retire

That's why you have a 401k maybe a Roth IRA so you can get yourself increases

 

[1989]

That's why you have a 401k maybe a Roth IRA so you can get yourself increases

Don’t really need it. But with a stronger pension (contributions over 2080hrs). I would never need it.

 

[IVE GOTTA PACKAGE 4U]

Don’t really need it. But with a stronger pension (contributions over 2080hrs). I would never need it.

Unfortunately we're kept at 20 80 hours

 

[1989]

Unfortunately we're kept at 20 80 hours

Next contact

 

[IVE GOTTA PACKAGE 4U]

Next contact

You can go vote on it

 

[quad decade guy]

My buddy retired from the county. He just turned 55.

He gets 94% of todays base pay for life with a very small drop down for the spouse when he expires. along with access to lifetime Cadillac health insurance that is virtually little cost to him.

Some people think that is extreme? Some not enough?

ME? It was negotiated contract's that led to this point. I am Happy for Him!

What Say YOU?

At what percentage is enough, enough or is it never enough?

Ok. What happens if his city or whoever controls his retirement goes bankrupt?

 

[What'dyabringmetoday???]

Ok. What happens if his city or whoever controls his retirement goes bankrupt?

Taxes go up to cover it.

 

[burrheadd]

Ok. What happens if his city or whoever controls his retirement goes bankrupt?

You don’t really understand how pensions work do you

 

[Shiftless]

Ok. What happens if his city or whoever controls his retirement goes bankrupt?

He gets upset!

 

[MAKAVELI]

Ok. What happens if his city or whoever controls his retirement goes bankrupt?

He's in CA most public employees are in the CalPers plan, a California public employee retirement fund. The city is not on the hook, CA tax payers are.

 

[rod]

Fireman

The Police and Sheriff department's all seem to be in this range in our area. All contractual language from years past. Newer employees do not see this type of retirement monies nor have the possibility to retire earlier than contracts of the past. It appears in this area 90 to 95 % is the norm.

What was your #?

In ways, similar to to Peer 80, 82 and 84 retirement of age programs UPSers live under. Just not a pension paying in the 95% of base salary rates.

A city 25 miles from me may have to bankrupt from these types of retirement's as the city is having a hard time funding the plan where too much was promised.

Again! I don't have a beef with these contracts the county and cities negotiated.

Maybe some day all you working stiffs reading this will see fit to insist the Pension plan brings us hobbled old retired FOOKER'S up to the 95% ratio to base salary.

I thought all firemen retired on some fake work comp injury that paid more than just a pension.