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  • BOP retirement Questions

    Can someone tell me how the retirement works with BOP. Like what percentage you get.

  • #2
    http://www.opm.gov/retirement-servic...n/computation/


    Special Provision for Air Traffic Controllers, Firefighters, Law Enforcement Officers, Capitol Police, Supreme Court Police, or Nuclear Materials Couriers

    •1.7% of your high-3 average salary multiplied by your years of service which do not exceed 20, PLUS
    •1% of your high-3 average salary multiplied by your service exceeding 20 years

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    • #3
      You will get the same answer here as you did on po.org

      But here is a little more in-depth answer. You will earn 1.7% per year for the first 20 which equals 34% at 20 years plus 1% per year after 20 so if you did 25 years you would have 39%. Plus a social security supplement plus whatever you have earned in your thrift savings plan. On your thrift if you put in 5% the government matches the funds (so with you putting in 5% you actually get 10% with 5% being free money) Also how thrift works is your contributions are put in different funds of your choosing and those are invested. in the G fund L fund etc etc etc. You earn different percentage in different funds and all based of the S&P. If you contribute 10% of your own money (with the GOV's 5% that adds up to 15%) you can make some good money in 20 years. There are folks that have earned between 500,00 to 1 million in their thrift alone. The average though is around 300,000 to 400,000.

      On your thrift you can draw it all at once (but their are penalties if done before age 55 and some other stipulations) or you can leave it alone, or roll it over into something else OR get an annuity where they pay you an additional monthly salary and project that salary on your average life span. A bewilderment of options with thrift.

      With the social security supplement most folks turn that down after getting a post retirement job because if for every dollar you earn more than (I believe 16,500) for every 2 dollars they want half so most turn the SSS down because the penalty is too high.
      Last edited by in625shooter; 01-22-2015, 09:26 PM.

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