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Police officer moms/wives of police officers ...

Are your state and local governments messing with your police pensions? Looking to cut them or do away with them altogether for budgeting purposes? What would you do if it was taken from you? Could you survive your retirement years by other means? What, if anything, are you doing about it?

 
Anonymous

Asked by Anonymous at 9:53 AM on Oct. 20, 2010 in Money & Work

This question is closed.
Answers (3)
  • So far no, but he only has 5 years in so a lot could happen in the next 15-20 years. They have messed with our insurance, so we are having to cut back on a few things for that. But if they were to cut pension, we would find another way to deal with it.

    JeremysMom

    Answer by JeremysMom at 10:04 AM on Oct. 20, 2010

  • So far, so good here in MI, but you never know. Pontiac is eliminating their entire Police Department of 75 officers. These are scary times for those that have dedicated their lives to Protect & Serve.
    TALuke

    Answer by TALuke at 10:42 AM on Oct. 20, 2010

  • OP here. Lots of referendums re: the topic coming up in Nov. Nothing here has yet taken place but there is state legislation proposed that will raise police/firefighter retirement age from 50 to 55 and cap the retirement pension at 72% (vs. the current 75%) of the final average salary (currently, retirement age is 50 with 65% of final salary; 75% of salary if work until 60). It may not sound too drastic but when you do the math, it is a considerable amount and one that will most surely affect police/firefighter families. It's a sad shame only because there have already been layoffs (mostly impacted the newbies), numerous cuts to benefits and services, and huge hikes in premiums for what few benefits are still in place (and no raises in years because the city councils do not feel they're warranted). What a slap in the face to these dedicated individuals.
    Anonymous

    Comment by Anonymous (original poster) at 11:34 AM on Oct. 20, 2010