Retirement Plans

[K988]

I was recently appointed to my Agency's Retirement Board (St. Mary's County Sheriff's Office)

I would like to obtain information from other agencies what there retirement packages are? Years, Percent, Pay In, etc. I just want to see where we rank around the state. I know we are not the best but hopefully we are far from the worst.

Here's our which recently changed: 25 years at 2.5% a year= 62.5 percent
We pay in 8% of base pay. Also, you can get up to five years military credit at 2.5% a year. Plus unused sick leave at the time of retirement is counted towards your percentage. Usually it adds up to an extra year (2.5%)

If you don't mind sharing what your agencies is, I'd like to compare. I also searched previous threads for one of this nature but couldn't find anything.

[big mak attack]

We are on LEOPS

[Retired96]

What medical do you offer upon retirement? That to me is one of the most important benefits when one retires.

[highwaycop]

My agency has LEOPS and what you have sounds better. Some agencys in LEOPS are currently lobbying for a higher percentage at 25 years.

[K988]

yeah, ours is ok for the agency size. I thing PGPD leads the way with 60% at 20 years. I'm just trying to compare us to agencies our size like Queen Anne, Laurel P.D., etc. I think Calverts is 58% at 25 years. Charles is 22 years but I don't know what the percentage is. I think MSP's is 22 years also but again I don't know what the percentage is or if they pay anything into it.

[L223]

In PG we get 60% at 20 years and 85% at 30 years. If I were you I would check all of the agencies recruiting websites, they usually have retirement info posted.

[rob80ert]

Wow... 85% at 30 years! That's really good!