police pensions question

[jgorto]

I'm may retire in 5 years as a cop in NJ and start w another agency in colorado. I will be 45. If I work for a pd or sheriff's office there for 10 years can I collect my pension at 55 and what percentage would it be ? Thanks in advance.

[Langford PR]

Your questions are agency specific, I believe. You should be able to calculate your takehome after a visit to the website of the agency's you're interested in.

[jgorto]

Ok. Thank you. Here in new Jersey it's vested after 10 w 2 percent per year 20 years is 50 percent and 25 is 65 percent of top pay. I'll check the websites.

[BNWS]

Make sure you check into medical benefits. Many agencies wont give you lifetime benefits after retiring or only doing ten years. Also if you do get lifetime benefits through your NJ job will doctors in Colorado accept you insurance? It's a huge issue young guys tend to overlook. The further you move from the agency that gives you your coverage the less doctors will accept it. You might have to do more than the ten years you planned on in CO. I was in the hospital for three days and the bill was $28,000. You don't want to pay that out of pocket.

[jgorto]

Thx. Very solid advice. What about Obama care. Is that not for cops too??

[BNWS]

Obama care makes you purchase Insurance. No free ride for working people.

[BNWS]

NYC gives us lifetime medical but unless you move to a place with a large number of NYC retirees you will find it hard to find doctors who will accept our insurance. We have options to change providers that are more widely accepted but they cost a lot more.

[tanksoldier]

Ok. Thank you. Here in new Jersey it's vested after 10 w 2 percent per year 20 years is 50 percent and 25 is 65 percent of top pay. I'll check the websites.

Her i n CO different agencies have different plans, some have nothing beyond a 401a.