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To: doc
In the interst of disclusre. I am a retired public employee/peace officer in Ca. I retired under the previous formula, 2.2% times years of service times highest salary year (not including overtime) @ age 50. Had I waited until 55 I could have got 2.5%.

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.

56 posted on 02/15/2009 10:55:24 AM PST by nufsed
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To: nufsed

The first 2.2 should be 2.0%


57 posted on 02/15/2009 10:55:59 AM PST by nufsed
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