Quote:
Originally Posted by rstevens62
It most certainly is their business if they live in the city/ state where this is happening!
THEIR tax dollars are whats being used to pay him this money.
The citizens of Parkland should stand up and correct this mistake immediately, they are within their rights to do so.
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The man qualified for his pension, there is NOTHING anyone can do to take it away from him. They can stand up all they want, it would be a waste of energy.
No one likes it that he was able to retire and get paid for life, but the formula is set in stone.
He will get paid until the day he dies. If he is married, he can have his wife continue to collect until she dies, simply by taking a little less during his lifetime
Most departments base retirement on a formula, the City I worked for used a
3% at 50 formula for police, meaning a sworn officer was eligible to retire at age 50, and would be paid 3% for each year of service. If an officer put in 30 years and retired at the minimum age of fifty, he would get 3% X 30 years, or 90% of his pay. If he worked until he was 60, he would get 3%X40, or120% of his pay for life.
Many departments use a 2.5% at 50, so they would make a little less, it all depends on how their plan was set up and voted on, so yes, it's easy to make more in retirement than what you earned while working. Easy if you consider working 40 years at a tough job like being a cop as easy.
Most police departments set the minimum age at 50 because it's a tough job, regular govt employees have a minimum of 55 or 60 years of age, depending on how their retirement plan voted on and approved.
They offer good benefits because the pay is low compared to comparable jobs in the private sector, so it's one way to attract candidates to the job.
I worked for the government, not as an officer, but I was making far more on the outside, I took a cut in pay to work for a government agency, I went for the benefits as do many.. My formula was 2% at 55, so much less than a sworn officer.
All of that to explain how government retirements are decided on, I still hate to see the coward get paid for life after what he allowed to happen to those innocent victims.
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