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Pension

From understanding pension systems to decoding health benefits, here’s everything you need to ask before accepting a police officer position
If you’re ready to change jobs, make sure the place you’re moving to is really better
Pre-retirement workshops can be a helpful tool in preventing adverse outcomes during retirement
The decision rejected claims by a group of police officers and firefighters that the move would violate the state constitution’s guarantee that benefits “shall not be diminished or impaired”
The judge ruled the former trooper’s constitutional rights under the Eighth Amendment were violated when he was ordered to lose his pension
Lawmakers are looking at ways to sweeten troopers’ retirement benefits, as well as trying to coax more experienced troopers near retirement to stay
Under the revised policy, police and firefighters can retire at age 55 or with 25 years of service, whichever comes first
Lawmakers are looking at creating a new pension system that would guarantee decent lifetime retirement benefits if officers stick around on the job
A 2021 law allowed nearly 8,000 officers and firefighters about to reach 20 years of service a two-year window to retire early with half their final compensation
New bill would make a 2021 law permanent that offered early retirement with a reduced pension
Comptroller Susana Mendoza accused the city of setting impossible standards for cops to receive benefits
The retirement system is a shareholder in WWE with some 350 shares, initially worth $100K
“My pension is the exact same as it was when I retired 34 years ago,” said Robert McCann, a retired police officer
Six officers who resigned over the past year said the department’s lack of a traditional pension was a primary motivation
“Now more than ever, these efforts are essential in maintaining our public safety workforce, and this investment will help us do that.”
How an age-old challenge and a new generation are chipping away at defined-benefit pensions
“By God, 30 years of inflation. I mean, that just doesn’t fly,” said one lawmaker
The bipartisan bill aims to update existing legislation to make it easier for retirees to access benefits
Nine of the top 10 officers are eligible to retire as of July 1
“New Yorkers, including current and retired police officers, stand in solidarity with Ukraine,” the city’s comptroller said
The Social Security Fairness Act would eliminate provisions that reduce Social Security benefits for first responders
“I have an oxygen tank with me 24/7 and I need assistance with everything,” said Lt. Yvan Pierre Louis
Proponents say that stable benefits are needed to recruit new police and firefighters
“I lose thousands every year,” said Gary Monto, who served as a cop for 22 years
Officers must also check they are truly eligible for retirement before submitting their paperwork
Improve the odds of retiring on your terms by taking advantage of other account and employment options
Your first goal should be to become debt-free
We asked Police1 readers to select the reasons why they would join, stay with or leave a department
Understanding how non-covered pensions reduce your Social Security benefits and what you might do about it could save you thousands of dollars