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Old 09-06-2017, 06:26 PM
 
2,394 posts, read 2,062,739 times
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Quote:
Originally Posted by Ultrarunner View Post
Retired from OPD at 51... said it didn't make much sense to keep working as it was working for free when pension figured into it.

Got bored and went to work for another department...

Commanding officer at scene of two Oakland police deaths to retire East Bay Times
That is anecdote and not the norm for the majority of public pensions
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Old 09-06-2017, 07:13 PM
 
17,787 posts, read 19,805,586 times
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Quote:
Originally Posted by tom1944 View Post
That is anecdote and not the norm for the majority of public pensions
There seems to be an over abundance of these anecdotes...
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Old 09-06-2017, 07:31 PM
 
26,589 posts, read 52,294,382 times
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Quote:
Originally Posted by tom1944 View Post
That is anecdote and not the norm for the majority of public pensions
Over 100 police and fire have pensions from the city of Oakland at 80k and above... with most having retired in the 1980-2000 but some in the 1960-1980....

Imagine retiring in 1964 and having a pension paying over 82k in 2017 from a city with a population under 380k for many years... again... RETIRED 53 YEARS AND PENSION IN 2016 IS $82,443

Not to mention it is 100% employer contribution with no employee contribution.

http://www.sfgate.com/bayarea/articl...ns-3743946.php

It may be anecdotal but it is the reality of all the property owners/residents of the city of Oakland... and this does not account for lifetime medical...

Last edited by Ultrarunner; 09-06-2017 at 08:20 PM..
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Old 09-06-2017, 08:19 PM
 
26,589 posts, read 52,294,382 times
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If anyone still thinks my city is an anomaly here is another link covering ALL of California.

See what California cities pay police, firefighters | The Sacramento Bee

Average Statewide Police Officer in California made $111,800 in 2015

For Bay Area Departments Redwood City average for regular rank and file officers is 186k.

I don't see pensions for these highly compensated individuals going away anytime soon.
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Old 09-06-2017, 08:39 PM
 
4,089 posts, read 7,787,197 times
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Quote:
Originally Posted by Ultrarunner View Post
If anyone still thinks my city is an anomaly here is another link covering ALL of California.

See what California cities pay police, firefighters | The Sacramento Bee

Average Statewide Police Officer in California made $111,800 in 2015

For Bay Area Departments Redwood City average for regular rank and file officers is 186k.

I don't see pensions for these highly compensated individuals going away anytime soon.
You posted a major newspaper as the source. Sorry still anecdotal. lol
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Old 09-06-2017, 09:54 PM
 
26,589 posts, read 52,294,382 times
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Nothing to be sorry about... it would be helpful to read the link in the story which lists the State of California Controllers Office as the "Source" with link provided.

Hard to classify an entire State as Anecdotal but whatever works?

Different view points make City-Data interesting...
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Old 09-06-2017, 10:46 PM
 
Location: St. Louis
476 posts, read 352,441 times
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Quote:
Originally Posted by Ultrarunner View Post
If anyone still thinks my city is an anomaly here is another link covering ALL of California.
Your state is anomaly. Most of my neighboring states have modest pension payouts.

Quote:
Originally Posted by Ultrarunner View Post
Any idea of what a worker with a 30 year career retired at age 52 would need in a 401k to produce 15k per month and premium for lifetime medical with no deductible?
Nobody retires here with full retiree healthcare. And nobody receives 15k/month here. Literally...nobody, according to the database(2011).
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Old 09-07-2017, 06:11 AM
 
Location: Tennessee
23,581 posts, read 17,567,761 times
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Quote:
Originally Posted by tom1944 View Post
You are doing the calculation wrong. You are assuming the $1.5 million needs to be there when the person dies. You need to do your calculation drawing down the principal also.
Most people want to adjust for heirs. Adjust according to personal taste.
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Old 09-07-2017, 06:13 AM
 
2,394 posts, read 2,062,739 times
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There are over 100 different public pension programs across the country. Pulling out California plans is anecdotal to everyone except people who live in California.

Also police and fire pensions are not the same as teacher and public worker pensions. They generally pay more and allow earlier retirement age.
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Old 09-07-2017, 06:15 AM
 
2,394 posts, read 2,062,739 times
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Quote:
Originally Posted by Serious Conversation View Post
Most people want to adjust for heirs. Adjust according to personal taste.

But that has nothing to do with how much is needed to pay the individual pension. Leaving money to an heir is a different situation.
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