The current formula is 3.0 at age 50. Maximum 90%
Here's how I would change the formula for cops and fire fighters. 2.5 at age 57. 2.7 at age 62. Maximum 75%.
Regular employees 2.0 at age 60 and 2.5 at age 67.During the crunch I would do the following. Reduce everyone's pay over 3,000 a month by 5%. Over 5,000 7%, over 8,000 10% until the state is out of bankruptcy.
The first 2.2 should be 2.0%