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In terms of cracking down on pensions, in a way yes, NYC has reeled some things in.
Back my dad's and grand-dad's day everyone knew the deal; the last few years before retirement you worked all the hours could get in OT to boost your pay. Since it was those numbers that were averaged to determine pension it lead to some very sweet retirements.
In terms of cracking down on pensions, in a way yes, NYC has reeled some things in.
Back my dad's and grand-dad's day everyone knew the deal; the last few years before retirement you worked all the hours could get in OT to boost your pay. Since it was those numbers that were averaged to determine pension it lead to some very sweet retirements.
it's mostly the older pensioners getting the fat paychecks. the people joining now, at least for the Department of Ed, their pensions are modest.
it's mostly the older pensioners getting the fat paychecks. the people joining now, at least for the Department of Ed, their pensions are modest.
Yeah, the "good ole days" such as they were are gone.
Think the last groups were in the (sadly) guys who were involved in 9/11/01 in some way.
Those FDNY, NYPD, etc... that survived/were still around often had so much OT racked up they had to retire in years afterwards or would have lost that money. This was "natural" OT mind you, not people out looking to fatten their pensions as I mentioned above.
IIRC Bloomberg kept the former commissioner of DSNY around so long it took special changes by state and city government to preserve his pension.
Attorney is probably on pro-bono or some low fee. If things work out he'll get a nice paycheck, if not......
As for the retired PO he has nothing to lose. Even if things don't go his way in the end he's still getting that four grand per month check for life. Guy should just join the scores of other retired FDNY, NYPD, DSNY and others and move to Florida or North Carolina where his pension won't be so heavily taxed. This or at least establish an out of NYS residence in one of those states or some place like them to get same benefit.
Keep in mind that if he wins, he can also get Social Security benefits on top of the NYC benefits.
Vega, 46, retired in 2014, and with credit for his time in the military is collecting a taxable, $4,000-a-month “service” pension
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