8 Year Drop

Great we get 3 more years with our over inflated salary command staff. Well there goes the promotions.

Not to mention the bitter "do nothings" on the road.

Great we get 3 more years with our over inflated salary command staff. Well there goes the promotions.


None of it will matter when an obama administration decides to seize pension funds. He is talking about seizing 401K accounts and putting them in the social security fund. Argentina just pulled a socialist move like that, they seized pension funds because the gov't needs the money. Socialism is on it's way, hope you're ready. They sneak it in a step at a time and call it liberalism, until it's too late.

Great we get 3 more years with our over inflated salary command staff. Well there goes the promotions.


None of it will matter when an obama administration decides to seize pension funds. He is talking about seizing 401K accounts and putting them in the social security fund. Argentina just pulled a socialist move like that, they seized pension funds because the gov't needs the money. Socialism is on it's way, hope you're ready. They sneak it in a step at a time and call it liberalism, until it's too late.

You guys are so deluded; making up facts and all. Too much Fox News I am afraid!

This 8 year drop is a bad idea for the majority of us. Vote NO!

Can you clarify who the "majority" is?

Has anyone here ever finished the total five year drop? Commander Golt is the only one I know of that is going to have completed the whole five years soon. Hey if you can stay the course its a great opportunity if your young and have kids and dont know what the hell your going to do after you retire its alot of money. Hell I hope I can make the five lol so does my wife, and maybe, just maybe ill see the eight on the horizon. Life is good in the Pines!!!!!!!!!!!!!!!!!!!!!!!!!!

This 8 year drop is a bad idea for the majority of us. Vote NO!

Please give me your reasons. I have been here under 10 years. How does the 8 affect me?

I may be way off course with this, but what if we had 18 or 19 years with a seven or six year drop? Would that be better for both the city and us? It would also help to keep us competetive with other agncies. I'm sure there's something wrong with it, but not quite sure what it is.

Turds stay in the bowl too long.

Turds stay in the bowl too long.

Why add another 3 years of pay leave? When you hit the 5 year drop mark; you are already on pay leave. 3 more years of deadwood on the road and DB, no thank you. :evil:

This 8 year drop is a bad idea for the majority of us. Vote NO!

Please give me your reasons. I have been here under 10 years. How does the 8 affect me?

It will make you wealthier than you could ever imagine, or possibly attain in any other job other than...Doctor, engineer, scientist, SUCCESSFUL lawyer, Surgeon...and remember, something called "rule of 72" At 8% fixed interest (divide 72 by 8) your account doubles every 9 years. (8 x 9 = 72). So, think about 9 years after you finish your 8 year drop (that almost doubled while you were in it) it is double. Then 9 years later, that doubles again...if you are disciplined enough to leave it alone.
And remember, you will be out of police work (not a cop) MUCH longer than you will be in police work, that's what really matters. Your stripes or bars won't do much good after you retire, but your account will....I wouldn't worry about dead wood, I would worry about your life after the job.

if it is so good why has the fire dept gone to impass.
it sounds like a trojen horse deal.
the eight % is rumered to be only good for the first 5 years then you are at the mercy of the market
you could lose more then you make after the 5 years, the way things are going.
we need to get more facts and have them in writing before we agree to anything.

THATS WHY YOU SHOULD HAVE GONE TO THE MEETING TONITE!! YOUR ARE SILLY TO THINK THAT YOU CANT DEAL WITH SOMEONE YOU DONT LIKE FOR 3 MORE YEARS FOR OH SAY $240,000!!!! THE LAST 3 YEARS IS 0-8% MEANING IF THE MARKET DOES ANYTHING POSITIVE YOU GET THAT % UP TO * IF THE MARKET DOES BAD YOU NEVER GO INTO THE NEGATIVE THE WORST YOU CAN DO IS MAKE NOT INTREST ON YOUR MONEY. GUESS WHAT IF THE MARKET IS BAD AND YOU HAVE YOUR MONEY INVESTED SOMEWHERE ELSE YOU WILL LOSE MONEY. IF THE WORLD IS SO BAD THAT MY MONEY CANT MAKE ANY INTREST IM PROBABALY GONNA NEED TO HAVE A JOB. I CAN DEAL WITH ANY OF THE WORTHLESS CRAP WE HAVE AROUND HERE FOR $240,000 (3 YEARS X $80,000 AT 0%) PLUS FOR ANYONE WHO WOULD HAVE 25 YEARS IN BEFORE AGE 50 IT BRIDGES THAT GAP TO OUR INSURANCE PREMUIMS!!! GET INFORMED BEFORE YOU MAKE A STUPID CHOICE AND VOTE THIS GREAT DEAL AWAY!!!

It's a good , safe plan. It should be soundly endorsed. OK, so we get Golt for a little longer, who cares. Think about your family folks. You will be much better off with the option, than without it. Wells' assertion that we shouldn't even address this is ridiculous. Who could have predicted the current economic condition we face? Most of the stuff is just a language adjustment to the contract to prevent the admninisration from taking advantage of loopholes. It's a no brainer, vote yes.

No brainer?
I guess that is what you would have to have to go blindly into this.
the city by the pba's own admission has not completed a study of the benifit (to them)
talk is cheep, put the plan in writing so it can be checked out by your own attorney
to just drink the cool aid because it sounds good, is a no brainer.
it is to easy to say that is not what we told you unless you have it in writing
when it comes time for the new contract and if the city and pba have conducted complete studys then look at it.
it has the potential to be good but NOW as it is being RUSHED >>>>>>>>>>>>>>BEWARE
This city has NEVER done anything unless it gave THEM something.

No brainer?
I guess that is what you would have to have to go blindly into this.
the city by the pba's own admission has not completed a study of the benifit (to them)
talk is cheep, put the plan in writing so it can be checked out by your own attorney
to just drink the cool aid because it sounds good, is a no brainer.
it is to easy to say that is not what we told you unless you have it in writing
when it comes time for the new contract and if the city and pba have conducted complete studys then look at it.
it has the potential to be good but NOW as it is being RUSHED >>>>>>>>>>>>>>BEWARE
This city has NEVER done anything unless it gave THEM something.


Ron, you really need to quit drinking. Once again you are making no sense whatsoever.

It is true that the Union stated that the actuarial study had not been completed prior to our meeting, but that the City estimated an $11K savings per retiree, starting immediately so it doesn't really sound to me like they are trying to hide anything.

The current state of taxes and income for the City have made them look for more progressive innovative ways to cut costs while not eliminating jobs. We as a Union should support those efforts. There are too many conspiracy theorists out there who are misinformed. If you want straight answers, go to the source and stop relying on speculation from most of your buddies who can't even balance their own checkbooks.

I think a little better explanation of what happens after year 8, from the Union would alleviate alot of fears. Like are the first 5 still a guaranteed 8%, and 6-8 0-8% as the market bears? I think that is what is worrying most people because I keep hearing that "the City is trying to stop the guaranteed 8% and this is just the beginning..." I don't believe that is true, but to hear it from the Union could be a little more reassuring.

The reality of the plan is that there will be very few individuals who will do the full eight years. The average DROP participant stays less than 2 years nationwide. If we can throw the City a bone for now, and use that for a good raise or other concessions next year I say we should go for it. Remember, as was said at the meeting, if the City does their study and it does not provide the savings they thought they are under no obligation to keep the offer. In that case, I would ask the Union to pull everything else off the table and stick strictly to the agenda that was agreed upon when this contract was written, just reopening wages only, and let them fight about the other stuff later no matter how petty it may seem.

IF THE CITY IS GOING TO TRY AND GIVE US THE 8 YEAR DROP WITHOUT US ASKING FOR IT AND IT IS GOING TO SAVE THE CITY $11,000.00.
---A COUPLE OF QUESTIONS----
1) IS THE MONEY GOING INTO ONE ACCOUNT OR TWO SEPERATE ACCOUNTS FOR EACH INDIVIDUAL?
2) IF AN INDIVIDUALS TAKES MONEY OUT, WHICH RATE OR ACCOUNT IS IT WITHDRAWN FROM?

ONCE AGAIN IT SOUNDS LIKE THE CITY IS TRY TO MAKE THIS SO COMPLICATED, SO THAT IN THE FUTURE THEY CAN DO AWAY WITH THE GUARANTEED 8%.

I SAY "THE 8 YEAR DROP AT 8% GUARANTEED"

Based on the information stated at the meeting by Rep Brooks, it would be apportioned as if there were two accounts. (Another good reason to go to the meetings is so you can hear this stuff first hand, and then hold their feet to the fire if they try to change it) The first five at the guaranteed 8%, and the next three at the 0-8% market holding. The first five would continue to grow at the same rate while the next three would be market based.

As far as the second part of your question, if it were me I would draw from the account that was gaining the least, reinvest in something secure that could possibly out gain that investment, remembering to stay below the withdrawal ceiling to eliminate tax problems, and leave the first five alone to grow at will. (Doubling every 7 years!!) Now that is based on the market not gaining a very good return, which is highly improbable the way our accounts are set up, but it is an option for the more market savvy investors we have working here.

There are options here people, you just have to ask what they are, or search for them yourself. I will never totally believe the conspiracy theorists, but you have to admit that their logic is entertaining if not thought provoking!!

Sounds like you allready drank the Cool Aid..
Brooks is only repeating what he was told by the City .
Hold him accountable ? What can you do to him vote him out?
Until the plan is ON PAPER and fully checked by the more market savvy investors we have working here,
Now is not the time !
If it is saving the city money it WILL be offered again.
The FD turned it down because it was ALL the city wanted to give them.( NO RAISE FOR THE NEXT THREE YEARS.)

if it is so good why has the fire dept gone to impass.
it sounds like a trojen horse deal.
the eight % is rumered to be only good for the first 5 years then you are at the mercy of the market
you could lose more then you make after the 5 years, the way things are going.
we need to get more facts and have them in writing before we agree to anything.


Well, if they take away the 8% option, then make sure you have the option of taking it completely out of the market. 0% is better than losing and that way you can choose which years to have it in the market. Whenever you feel it will be a good year you could put it in.

Great we get 3 more years with our over inflated salary command staff. Well there goes the promotions.


None of it will matter when an obama administration decides to seize pension funds. He is talking about seizing 401K accounts and putting them in the social security fund. Argentina just pulled a socialist move like that, they seized pension funds because the gov't needs the money. Socialism is on it's way, hope you're ready. They sneak it in a step at a time and call it liberalism, until it's too late.

You guys are so deluded; making up facts and all. Too much Fox News I am afraid!

Wall Street Journal....

Heard the FD got all 8 with guaranteed 8%...any truth to that?

102-62, read it and weep haters. 8 is great.

Has anyone here ever finished the total five year drop? Commander Golt is the only one I know of that is going to have completed the whole five years soon. Hey if you can stay the course its a great opportunity if your young and have kids and dont know what the hell your going to do after you retire its alot of money. Hell I hope I can make the five lol so does my wife, and maybe, just maybe ill see the eight on the horizon. Life is good in the Pines!!!!!!!!!!!!!!!!!!!!!!!!!!

Nice name Devil Dog!

Heard the FD got all 8 with guaranteed 8%...any truth to that?


Heard the same thing, but they accepted no raises for three years to secure it...anyone?