Notices
Like Tree124Likes

cop pension is insane

Reply

Old 05-16-2018, 04:09 PM
  #101  
Senior Member
 
Join Date: May 2015
Posts: 1,951
Default

Another point, I train new drivers out of school to ensure the public safety before they are released to drive on their own, I met a most interesting driver.
She was early 40's and I asked why do you want to drive a truck, she said to make decent money fairly soon, then I asked why?
Her husband was retired Nassau New York LEO, he retired early 1990's, moved to Florida with her and was enjoying life, while playing golf one day dripped dead on course leaving no survivor benefits to his wife.
Sometimes pensions don't pay out, her dream retirement ended suddenly, she drove great and didn't try to be stupid, all the guys wanted to be her road partner cause while they were in bunk they could sleep well not worrying about their driver.
Moral of story, be prepared for retirement no matter where it comes from!
God bless,
BWP
bluewaterposer is offline  
Reply With Quote
Old 05-16-2018, 04:10 PM
  #102  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2016
Posts: 359
Default

If Richard wants to get a higher salary, drive his Platinum F250 to pull his SeaVee 370z, and live the high life. More power to him. If he dies or gets killed, he need not worry about retirement. If he has nothing to show for it at retirement, thatís his fault for blowing his huge income difference.

i will continue to drive my 2004 F350 and tow my 1980 Robalo 256. So when i retire, god permitting, i can have a nicer boat, enjoy whats left of life and actually beat the casino (metaphorically speaking). If i die or get killed early, well Richard clearly won that contest with the luxury life.
DoughnutToo is offline  
Reply With Quote
Old 05-16-2018, 04:15 PM
  #103  
Admirals Club Admiral's Club Member
 
Join Date: Nov 2011
Location: Perdido Key - Innerarity Island
Posts: 6,185
Default

Originally Posted by Cracker View Post
Again facts... FRS does not include free health insurance for either party since we are talking about this thread.
Damn sure donít. Insurance will EAT up a retirement check fast.
Badbagger is online now  
Reply With Quote
Old 05-16-2018, 04:24 PM
  #104  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Apr 2005
Posts: 1,990
Default

Public jobs should be compensated like private ones-- pay a salary and offer a 401K. If you need to raise the salary to attract talent so be it. At least you won't be burdened generations down the road with unreasonable obligations for eternity. As an business owner I would never offer an employee a pension for life, nor should the public sector. Secondly this way you know where you stand instead of pushing of pork down the road.

Such a common practice to give retiring public sector workers their "going away gift" -- pay increases and tons of overtime in the last 3 years of employment so they can get a bigger pension for life.
rusbob, Fish'nFool and magua like this.
GR1FFIN is offline  
Reply With Quote
Old 05-16-2018, 04:28 PM
  #105  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2016
Posts: 359
Default

Im just repeating what Cracker already said....since itís so great and all.....


NOW HIRING APPLY WITHIN
Cracker likes this.
DoughnutToo is offline  
Reply With Quote
Old 05-16-2018, 05:21 PM
  #106  
Senior MemberCaptains Club Member
 
Join Date: Aug 2002
Location: St. Augustine, Fl
Posts: 21,668
Default

Originally Posted by DoughnutToo View Post
Im just repeating what Cracker already said....since it’s so great and all.....


NOW HIRING APPLY WITHIN
All that Pork pushing and all, who would be so stupid as to not apply....
Cracker is offline  
Reply With Quote
Old 05-16-2018, 05:25 PM
  #107  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2016
Posts: 359
Default

Originally Posted by Cracker View Post
All that Pork pushing and all, who would be so stupid as to not apply....
I am still waiting on someone to answer my career choice of option A or option B.
DoughnutToo is offline  
Reply With Quote
Old 05-16-2018, 05:30 PM
  #108  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2012
Posts: 5,378
Default

Originally Posted by DoughnutToo View Post


I am still waiting on someone to answer my career choice of option A or option B.
it isnít about you or choosing. It is about policy that masks true cost to deliver the service.
rusbob likes this.
chrispnet is online now  
Reply With Quote
Old 05-16-2018, 05:41 PM
  #109  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2016
Posts: 359
Default

Originally Posted by chrispnet View Post

it isnít about you or choosing. It is about policy that masks true cost to deliver the service.
I will gladly take the substantial pay increase per hour, retro pay and everything i have contributed into FRS. If the Florida voter can make that happen.
hockeyGTP likes this.
DoughnutToo is offline  
Reply With Quote
Old 05-16-2018, 05:47 PM
  #110  
Senior Member
 
Join Date: Aug 2016
Posts: 467
Default

I think the point is that there is really not much difference between a pension and a 401k with the employer matching funds. Most cops put in a percentage of their salary toward their retirement. If you separate [or die] before you retire you get nothing.
What happens if you separate from your employer with a 401k? Thats right, you get to keep it.
Basically you roll the dice to see what your department will be like in 25-35 years. Who else does that in the private sector? You can bounce from place to place as soon as a blade of grass becomes greener.
If the pension funds were managed correctly and no one dipped into them they would be in much better shape.
Again, look at social security. Once you dip into it it greatly effects the solvency years down the road.
R Days is offline  
Reply With Quote
Old 05-16-2018, 05:49 PM
  #111  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2016
Posts: 359
Default

R Days

You sir, win.
DoughnutToo is offline  
Reply With Quote
Old 05-16-2018, 05:54 PM
  #112  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Apr 2007
Posts: 1,289
Default

Or, we could just pay teachers, cops and firefighters a higher wage and avoid all this nonsense.

While I (reluctantly) have to agree with the "hate the game, not the player" views many have expressed, the fact is the civil service pension system is a breeding ground for corruption, loopholes, and system milking... and perpetuates the power and perceived need for unions that impede performance and accountability to the ultimate "customer" - the taxpayer.
chrispnet likes this.
nicecast is offline  
Reply With Quote
Old 05-16-2018, 05:58 PM
  #113  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Apr 2007
Posts: 1,289
Default

Originally Posted by R Days View Post
I think the point is that there is really not much difference between a pension and a 401k with the employer matching funds. Most cops put in a percentage of their salary toward their retirement. If you separate [or die] before you retire you get nothing.
What happens if you separate from your employer with a 401k? Thats right, you get to keep it.
Basically you roll the dice to see what your department will be like in 25-35 years. Who else does that in the private sector? You can bounce from place to place as soon as a blade of grass becomes greener.
If the pension funds were managed correctly and no one dipped into them they would be in much better shape.
Again, look at social security. Once you dip into it it greatly effects the solvency years down the road.
Nonsense! There's a HUGE difference. One is paid by shareholders whose ability to "vote with their feet" renews on a daily basis. And, the other is backstopped by all of us, subject to political pressure, and interminably entrenched.
nicecast is offline  
Reply With Quote
Old 05-16-2018, 06:02 PM
  #114  
Senior MemberCaptains Club Member
 
Join Date: Jun 2003
Location: Monroe, Connecticut
Posts: 721
Default

Connecticut has a 6 person committee studying taking the entire NET proceeds from the CT Lottery and putting it into the teachers pension fund for the next 30 yes Thirty years. When they say the gambling proceeds will be used for education I doubt this was what they meant. The public retirement benefits are destroying Connecticut financially.
joeyd is offline  
Reply With Quote
Old 05-16-2018, 06:04 PM
  #115  
Senior Member
 
Join Date: Aug 2016
Posts: 467
Default

Who here plans on receiving social security benefits? What about Medicare, Medicaid benefits?
There are much smarter people on here than I am so I ask what the difference is between social security and a police pension? That is of course one is federal, the other is either state or local.
I might also add that a cops life expectancy is shorter than the national average.
R Days is offline  
Reply With Quote
Old 05-16-2018, 06:11 PM
  #116  
Admirals Club Admiral's Club Member
 
Join Date: Aug 2012
Posts: 5,378
Default

Originally Posted by DoughnutToo View Post


I will gladly take the substantial pay increase per hour, retro pay and everything i have contributed into FRS. If the Florida voter can make that happen.
yep. Policy changes are needed, and some may do exactly that. You are due what the people promised you without a doubt. The policy question is forward looking.
chrispnet is online now  
Reply With Quote
Old 05-16-2018, 06:11 PM
  #117  
KJS
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Aug 2003
Location: Where I go, there I am
Posts: 16,736
Default

Originally Posted by R Days View Post
Who here plans on receiving social security benefits? What about Medicare, Medicaid benefits?
There are much smarter people on here than I am so I ask what the difference is between social security and a police pension? That is of course one is federal, the other is either state or local.
I might also add that a cops life expectancy is shorter than the national average.
I don't think comparing one type of debauchery to another is a good way to justify the debauchery that you are trying to justify.
KJS is offline  
Reply With Quote
Old 05-16-2018, 06:15 PM
  #118  
Senior Member
 
Join Date: Aug 2016
Posts: 467
Default

Originally Posted by nicecast View Post

Nonsense! There's a HUGE difference. One is paid by shareholders whose ability to "vote with their feet" renews on a daily basis. And, the other is backstopped by all of us, subject to political pressure, and interminably entrenched.
So a few years ago when I was told that we would be contributing an additional 4% of our salary into our pension I should have voted with my feet and went elsewhere. Great plan. Unfortunately I would have left with experience and a nice resume. Nothing else.
With a 401k I could habe left for greener pastures. Do you plan on receiving social security or Medicare, Medicaid benefits?
R Days is offline  
Reply With Quote
Old 05-16-2018, 06:17 PM
  #119  
Senior Member
Thread Starter
 
Join Date: Nov 2014
Posts: 1,756
Default

Originally Posted by Cracker View Post
I am no expert on Federal jobs BUT a buddy left being a street cop with me 15 years ago. He is now with Border Patrol chasing illegals in Arizona. He has been there about 5 years. He said it is with little effort he can make over a 100K a year. Work a Saturday or nightshift is 1 1/2 times and work Sundays get double time. Many local cops leave to go Federal because both pay and pension are better...
You're talking about salary and we are talking about pensions. The difference here is that State pensions are paying nearly all the salary (90% as an example here) and taking overtime into account. Federal pensions do not count overtime or special pays, just base pay and are about half the States' percentage at a given period.

Those arguing about the demands and sacrifices of the job... that may hold water when discussing this with many but it doesn't with a federal LEO, military, or others that have shared similar or greater demands. There is just no damn way you will convince me that this "Coward of Broward" street cop in this case deserves as much money in retirement as a Brigadier General in retirement. This guy was not the Chief of Police for a medium to large size city. If you believe he does, you're so far off your rocker we can't even have a conversation.

(That last sentence was not aimed at anyone in paticular)

Last edited by On the Half Shell; 05-16-2018 at 06:29 PM.
On the Half Shell is offline  
Reply With Quote
Old 05-16-2018, 06:19 PM
  #120  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Apr 2007
Posts: 1,289
Default

Originally Posted by R Days View Post
So a few years ago when I was told that we would be contributing an additional 4% of our salary into our pension I should have voted with my feet and went elsewhere. Great plan. Unfortunately I would have left with experience and a nice resume. Nothing else.
With a 401k I could habe left for greener pastures. Do you plan on receiving social security or Medicare, Medicaid benefits?
No, the shareholders of your company, who approved the pension plan, can vote with their feet.
nicecast is offline  
Reply With Quote

Thread Tools
Search this Thread
 
  • Ask a Question
    Get answers from community experts
Question Title:
Description:
Your question will be posted in: