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  • Best retirement plans/Worst retirement plans

    What law enforcement agencies have the best retirement plans?

    I know most agencies have a retirement plan for officers but which agencies have a good, solid plan? Also, what agencies have the worst plans?

  • #2
    Agency specific...

    Some have good plans some don't...ie some don't give you medical..some give family medical...some give dental, vision plan...etc

    Some give you 3% @50 others 3%@55...PERS...blah blah blah

    You have to decide what is good for you and your family....again..it depends on what the agency offers and what your needs are...or rather what you're willing to settle for.
    This profession is not for people looking for positive reinforcement from the public. Very often it can be a thankless job and you can't desire accolades, because those are not usually forthcoming. Just do your job to the best of your ability and live with the decisions you've made.

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    • #3
      The two small town PD's I have worked for don't have a retirement plan. How's that for the worst?
      I yell "PIKACHU" before I tase someone.

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      • #4
        Originally posted by Rudy8116 View Post
        The two small town PD's I have worked for don't have a retirement plan. How's that for the worst?
        You've got my vote for worst! Yikes
        This profession is not for people looking for positive reinforcement from the public. Very often it can be a thankless job and you can't desire accolades, because those are not usually forthcoming. Just do your job to the best of your ability and live with the decisions you've made.

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        • #5
          KS State retirement is pretty decent. You have to contribute 7 or 8% (I forget which), but the benefits are pretty solid. I'm out at age 50.

          Missouri by contrast is pretty lame.

          +1 to the person about small towns. Been there, done that. One town didn't even have health insurance.

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          • #6
            Also, my first PD had no benefits. Im not sure what the current PD has, since I am a reserve. I suspect it's the same.

            Oh, pay for said PD's is around $10/hr
            I yell "PIKACHU" before I tase someone.

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            • #7
              Most California agencies have 3% at 50. At age 50 and with at least five years of service, you are eligibile to collect a pension, computed at years of service multiplied by 3%, with a 90% cap at 30 years of service. You can work as long as you want, but will be working for pennies on the hour if you stay longer than 30. The employee and employer contributions depend on each agency and their labor contract. My agency deducts 9% of our pay for the employee contribution. Some agencies use the single highest year to compute the pension, and others use the average of the three highest. Overtime does not count, but differentials count, such as night shift pay, POST Intermediate and Advanced certificate pay, education incentive, detective or hazard pay, etc.

              And before any know-it-alls jump in, CalPERS is not what is hurting the state. Check the facts for yourselves, and you will see that PERS has a history of being one of the most well-funded (often self-funded) and solvent retirement systems in existence. It's just convenient for haters to blame PERS. Public safety pensions are a small part of PERS, which covers most public employees in the state who are not teachers. The average PERS retirement is something like $25,000 a year. The purportedly high-paying pensions that the media loves to report are a small minority.
              Last edited by ateamer; 03-06-2011, 11:17 PM.
              Government is not the solution to our problem; government is the problem. - Ronald Reagan

              I don't think It'll happen in the US because we don't trust our government. We are a country of skeptics, raised by skeptics, founded by skeptics. - Amaroq

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              • #8
                We are 50% at 20, no benefits. 65% at 25 with full benefits for you, the spouse and eligible family members. 70% at 30 with the benefits. Disibility pension is 66 2/3 tax free with full benefits. Contribute 8.5% of salary into the pension, but the state hasn't made their portion in years, hence the huge issue right now. Most guys I know that retired are bring home just under what they did before they retired, since they are no longer paying into anything.
                Being a good street cop is like coming to work in a wet suit and peeing in your pants. It's a nice warm feeling, but you're the only one who knows anything has happened.

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                • #9
                  My agency, not that I'll ever see any of it with my position now, allows you to retire with 50 percent of your last years pay, including OT. Cost of living increases are included as well as tax free medical care for you and your immediate family. You can retire at 41, the youngest possible age after you've done 20 years.

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                  • #10
                    I've heard Dallas PD has one of, if not the best, pension plan in the nation. Not that anyone ever sees it.
                    I yell "PIKACHU" before I tase someone.

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                    • #11
                      Zero pension and zero benifits. Basic 401k county retirement same as all other employees. state has a partial fund that's about 1200.00 a year after 25+hrs. One guy is 62 with 32yrs service and still working the roads. We don't do it for the pay or the benifits in the south- we do it because we like to do it.
                      Any views or opinions presented by this prenomen are solely those of a burlesque author and do not necessarily represent those of a LEA or caementum couturier.

                      nom de plume

                      This is the internet- take all information with a grain of salt. Such could be valid and true or could be typed just for playing devils advocate.

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                      • #12
                        Best Retirement Plans/Worst Retirement Plans

                        Originally posted by Rudy8116 View Post
                        I've heard Dallas PD has one of, if not the best, pension plan in the nation. Not that anyone ever sees it.
                        Why don't they see it?

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                        • #13
                          LASD you can retire at any age with 20 years of service.. At 50 years of age you get 2% for each year of service. at 55 it jumps to 2 1/2%. Mandatory retirement age is 60 for safety employees..It used to be 55 years when I was hired but was raised to 60 after I retired.. People hired prior to 1978 retire at their last years highest salary and are eligible for a 3% COLA every April 1. All other employees retire at the last 3 years salary and are eligible for a 2% COLA..

                          The best benefit is that at 25 years of service the county pays 100% of your health care cost which includes dental and vision...

                          When all the other agencies in the state went to the 3% at 50, LA county refused to offer that benefit.

                          When I retired the money that the county paid monthly for your health care was included in your final retirement compensation. They stopped doing that after I retired..
                          Retired LASD

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                          • #14
                            I think the best I have seen is Austin TX, theirs is 3.2% @23 years. PO2 tops out with extras @ $81,559
                            Good people sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf.

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                            • #15
                              TMRS. I put in 7% (the max) of every check pretax. The more I make, the more I put in. The city matches my contribution 2-1 upon retirement. Account accrues a minimum of 5% interest a year. I was vested the day i got hired due to prior military credit. I can choose 3 varying amounts of a partial lump sum payout or no payout with monthly payments affected by the choice. I can retire at 45.
                              Originally posted by crass cop
                              Just do it in front of a camera and try not to get a boner and you shoudl be fine.

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