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To: Kolath

And police are exempted because...?


3 posted on 01/22/2013 5:04:58 PM PST by Ken H
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To: Ken H
It could be because they have an earlier retirement age. The crazy thing is a lot of these localities would save a lot of money if they transitioned even to a program like federal employees have.

I can only speak to fire and police retirements, but they are really expensive in California. LA fire gets something like 90% of their high three after 20 years and 100% at 25 years. That includes the ability to work lots of overtime to spike the last three years earnings. Why would somebody keep working if they made more by not working?

The reason a lot of feds keep working until they hit mandatory retirement age is because they make a fraction of their working salary in retirement and pays to work longer.

4 posted on 01/22/2013 5:32:22 PM PST by USNBandit (sarcasm engaged at all times)
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