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Thread: Retirement

  1. #1
    Some Guy
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    Sep 1999
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    Question Retirement

    I am posting this here because it will be looked at the most. After how many years of service can you retire? Also what is the % of you pension? Here we get 65% after 25 years and 70% after 30. What do you guys have?
    This space for rent


  2. #2
    Senior Member Dalmatian90's Avatar
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    Mar 2000
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    Post

    For career "Hazardous Duty Employees" of the State of Connecticut (and many municipalities follow a similiar plan)
    -- 50% @ 20 years
    -- 2% extra for each additional year of service
    -- Based on the average of your three highest years earnings (especially for Police Officers who tend to have more overtime oppurtonities, this can be big boost...10 hrs/week in OT would give you 38% more in income...138% of your base salary * 50% of your highest three years = 69% of your base salary as your pension)
    IACOJ Canine Officer
    20/50

  3. #3
    Forum Member FireCapt1951retired's Avatar
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    Nov 2000
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    Post

    Here we get 2.5 % per year up to 25 years, after 25 you get 2.1 % a year with a maximum of 83.5 %. Average of your last 5 years. We are also allowed to roll over our annuities (on average right now) of around $230,000. If you take your annuities your pension is cut an average of around $200 TO $300 a month, depending on your age. You invest your annuities and can draw much more in interest than your loss, that adds to your overall retirement benefits. We also get full medical, dental and optical.

    [ 12-16-2001: Message edited by: FireLt1951 ]


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