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NYPD tier III pension question?

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  • NYPD tier III pension question?

    Does the NYPD tier III pension plateau at 50%? Even if you stay past 22 years, does the percentage not increase?

    This is what it says on the website, I'm having a hard time fully understanding it.

    2.1% of the final average salary x years of credited service
    (for first 20 years)
    -plus-
    1/3% of the final average salary for each month in excess of 20 years
    [total benefit not in excess of 50% of the final average salary]

    The way it's worded makes it seem like you can get a higher percentage, but then the "total benefit not in excess of 50% of the final average salary" line makes it seem like the opposite.

    I apologize if this seems like a stupid question, I'm just trying to understand everything fully.

    And just a little bonus question here: Why does NYPD list their total pay? Is it to make it seem better than it is, or is that actually what should be compared to other department's "base salary"? For example, the LAPD has a max base salary of $88,427, the NYPD has a max base salary of $76,448, but total pay would be $90,829. So, in the grand scheme of things here, which is the better paying agency? I've never seen "total pay" listed on any PD's site except NYPD, that's why I'm asking.

  • #2
    Originally posted by John_Manzella View Post
    Does the NYPD tier III pension plateau at 50%? Even if you stay past 22 years, does the percentage not increase?
    It does, but not by too much. I believe it's 1/60th per year for Tier II, and I don't think it's different for III.

    Originally posted by John_Manzella View Post
    The way it's worded makes it seem like you can get a higher percentage, but then the "total benefit not in excess of 50% of the final average salary" line makes it seem like the opposite.
    That does seem contradictory. Contact the NYC PPF. They're the only ones who can provide you with real facts.

    http://www.nyc.gov/html/nycppf/html/.../contact.shtml

    Originally posted by John_Manzella View Post
    And just a little bonus question here: Why does NYPD list their total pay? Is it to make it seem better than it is
    Yep.

    Originally posted by John_Manzella View Post
    So, in the grand scheme of things here, which is the better paying agency? I've never seen "total pay" listed on any PD's site except NYPD, that's why I'm asking.
    No clue what "extras" LAPD has added to their base pay, if any, and how that would compare to NYPD. My guess is LAPD probably pays better overall. Look around the California threads for an answer.
    sigpic
    __________________

    "I pity guys like you, I truly do. Everything you own and have you can thank the job for and still you despise it. I don't understand how any man can choose a career, hate it from the beginning, not have the balls to leave, and then complain about it once he's retired."

    -Thee Rant (surprisingly)
    __________________

    Originally posted by NYCTNT
    DF,

    Why do you bother?

    Comment


    • #3
      You can online chat with a recruiter right now.

      http://www.nypdrecruit.com/benefits-salary/overview

      Comment


      • #4
        Originally posted by BNWS View Post
        You can online chat with a recruiter right now.

        http://www.nypdrecruit.com/benefits-salary/overview
        I highly recommend not relying on APD concerning pension information. While well intentioned, a lot of their information is either wrong or they simply don't know. NYC PPF should be the sole source for such questions.
        sigpic
        __________________

        "I pity guys like you, I truly do. Everything you own and have you can thank the job for and still you despise it. I don't understand how any man can choose a career, hate it from the beginning, not have the balls to leave, and then complain about it once he's retired."

        -Thee Rant (surprisingly)
        __________________

        Originally posted by NYCTNT
        DF,

        Why do you bother?

        Comment


        • #5
          Thanks for taking the time to clear some of that stuff up for me.

          Much appreciated.

          Comment


          • #6
            If you stay for a full 25 years which would be smart for everyone in tier 3 your pension will adjust for inflation, i cant remember the number but i think it cant adjust more then 3%.

            Comment

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