Leader

Collapse

Announcement

Collapse
No announcement yet.

Nypd tier 3 revised

Collapse

300x250 Mobile

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Nypd tier 3 revised

    Are there any limitations or caps on the amount of overtime pay used for the purpose of pension calculations for the new tier? I know that a lot of tier 6 members from other departments now have an overtime cap when calculating pensions.

  • #2
    Originally posted by nyc9090 View Post
    Are there any limitations or caps on the amount of overtime pay used for the purpose of pension calculations for the new tier? I know that a lot of tier 6 members from other departments now have an overtime cap when calculating pensions.
    NYPD Tier 3 is terrible. Your pension, after 22 years is, 50 percent, which is then reduced by 50 percent of your social security benefit at age 62.

    For members appointed between July 1, 2009 and March 31, 2012, final average salary is the average wages earned by a member during any 3 consecutive calendar years or 36 months immediately preceding the member’s retirement date that provide the highest average wage. For members appointed on or after April 1, 2012, final average salary is the average wages earned by a member during any 5 consecutive years that provide the highest average wage.

    Wages include base salary, overtime, night differential, holiday pay, portal to portal and worked vacation. If the wages earned during any year included in the period exceeds the average of the prior two years by more than 10%, the amount in excess of 10% shall be excluded.

    Comment


    • #3
      So essentially the answer is no overtime cap?

      Comment


      • #4
        Originally posted by nyc9090 View Post
        So essentially the answer is no overtime cap?
        If based on your best five years and you can't exceed each year by 10 percent.

        Comment


        • #5
          Right right I gotcha. Thanks for the response! Only reason I ask is because in most other departments, people who are tier 6 (more or less the same as tier 3 revised) have a cap of like 15k in overtime for pension purposes. Which sucks. Shockingly Thats one way nypd is better lol

          Comment


          • #6
            So I worked for Suffolk County in 2009 (non pd related), if I get in nypd in July would I be tier 3?
            NYC Corrections Exam: 2322
            Academy: March 2015 (Got the call!!) NYCDOC

            Comment


            • #7
              I believe those other departments will cap you at 15% if you are tier 5 in the nys police fire retirement system, not at 15k for nys ERS members , not pfrs. No matter what way you try to put lipstick on that NYPD pig of tier 3, its still hitting you hard in the pocket come time to receive social security.

              With regards to the Suffolk county question, there are certain situations which may affect your NYPD tier depending on how many years you're able to get from Suffolk county . there was someone in my NYPD class that bought back dispatcher time or ems time (non PD time) and it was enough to take him into tier 2. If you got hired in NYPD for the July class, and your prior Suffolk county time amounts to less than 6 years (figure July 2015-2009 = 6) it may not help you for a tier change . its worth investigating, if you get sworn in, you will indicate that previous service to the NYC ppf and they will give you the thumbs up or thumbs down. I transferred state time from corrections into the nyc ppf and it was not enough to take me back to pre 2009. It's not even added to my years on, they could only transfer the monetary amount I contributed to my old system into the ppf. Can't wait for a new job to come along
              Last edited by CFD230; 01-16-2015, 05:31 PM.

              Comment

              MR300x250 Tablet

              Collapse

              What's Going On

              Collapse

              There are currently 4000 users online. 287 members and 3713 guests.

              Most users ever online was 26,947 at 08:36 PM on 12-29-2019.

              Welcome Ad

              Collapse
              Working...
              X