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Old 09-07-2017, 10:41 AM
 
51,868 posts, read 41,765,307 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.
Several states\cities have had to close the loophole where it's based on your highest years pay.

Everyone in their last year was being allowed to take as much overtime, holiday shifts etc. that they could and it often resulted to producing a pension amount as large as their last years regular salary.

The city police and fire department unions can be extremely powerful and pretty much impossible to reform.

I used to live in Chicago and they've had a very hard time just getting them to hire more minorities because they basically hold spots for family and friends.
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Old 09-07-2017, 11:11 AM
 
2,394 posts, read 2,061,115 times
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In NJ overtime never counts in pension calculations.
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Old 09-07-2017, 12:34 PM
 
Location: New Oxford, PA
120 posts, read 59,065 times
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Quote:
Originally Posted by Mathguy View Post
Several states\cities have had to close the loophole where it's based on your highest years pay.

Everyone in their last year was being allowed to take as much overtime, holiday shifts etc. that they could and it often resulted to producing a pension amount as large as their last years regular salary.

The city police and fire department unions can be extremely powerful and pretty much impossible to reform.

I used to live in Chicago and they've had a very hard time just getting them to hire more minorities because they basically hold spots for family and friends.
There are still multiple police agencies in my area that utilize this formula. Other officers will often let the retiring member take their overtime shifts, knowing that it will benefit the pension of their outgoing colleague.

In my department, the Final Average Salary is based upon your highest-earning 36 month period, regardless of what point in your career it occurred, so most don't wait until their final year to bump their numbers.
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Old 09-07-2017, 07:28 PM
 
26,589 posts, read 52,257,058 times
Reputation: 20402
Quote:
Originally Posted by RisingAurvandil View Post
Your state is anomaly. Most of my neighboring states have modest pension payouts.



Nobody retires here with full retiree healthcare. And nobody receives 15k/month here. Literally...nobody, according to the database(2011).
No argument here... California is known as a State where residents cash out real estate and relocate outside California to lower cost of living, lower taxes and the California public pensions go farther... kind of ironic... the same taxes used to pay the pensions are a force driving receiving government pensions to leave.

Of my 12 close law enforcement friends all but one has left California... many to Nevada, some to Idaho, Arizona and Oregon...

California tried unsuccessfully to implement a source tax on State Pensions paid to those no longer subject to California Income Tax and lost...

The State pointed out it was losing tax dollars both from Income Tax and Spending those pension dollars from those that left and the impact was real...

Last edited by Ultrarunner; 09-07-2017 at 07:37 PM..
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Old 09-07-2017, 07:35 PM
 
26,589 posts, read 52,257,058 times
Reputation: 20402
Quote:
Originally Posted by Mathguy View Post
Several states\cities have had to close the loophole where it's based on your highest years pay.

Everyone in their last year was being allowed to take as much overtime, holiday shifts etc. that they could and it often resulted to producing a pension amount as large as their last years regular salary.

The city police and fire department unions can be extremely powerful and pretty much impossible to reform.

I used to live in Chicago and they've had a very hard time just getting them to hire more minorities because they basically hold spots for family and friends.
Pension Spiking "Can" result in retirement boost to equal wages when employed...

When a local city announced it would no longer allow pension spiking there was a mass exodus that left the city scrambling... one of my friends retired with 24 years and had no intention of doing so until the change was announced... and it proved very lucrative decision for her.

I work in the private sector and had maxed out 480 hours of sick leave... earlier this year ownership shifted leaving the original owners with a 49.5% stake... the new owner with 50.5% stake eliminated the entire sick leave benefit and went to State Disability that pays 60%...

It was a huge retro active loss for all involved and not a darn thing we could do to stop it... and we also have NO PENSION...

Point is this happens all the time in private sector employment...
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