Time to eliminate the drop!

The person cap is $120,000 yearly for anyone above Commander.

Drop

$120,000 X 7 year drop = $840,000
1% contribution average is $200-$300,000
Deferred comp average is $100-$200,000
Vacation cash out average is $50,000
Illness time average is $50,000

A saving of a $1.2 million dollars
The average on that at a 3.5% fix yearly interest = $42,000 dollars extra a year

$120,000 pension + $42,000 interest your taking home well being retired $162,000 a year.

(I didn’t count the interest you would make on your 7 year drop.. that’s an average of $200,000)

So time to retired! If your young and smart you can even start a second career if you are that greedy.

Quote:

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Originally Posted by Unregistered

The person cap is $120,000 yearly for anyone above Commander.

Drop

$120,000 X 7 year drop = $840,000
1% contribution average is $200-$300,000
Deferred comp average is $100-$200,000
Vacation cash out average is $50,000
Illness time average is $50,000

A saving of a $1.2 million dollars
The average on that at a 3.5% fix yearly interest = $42,000 dollars extra a year

$120,000 pension + $42,000 interest your taking home well being retired $162,000 a year.

(I didn’t count the interest you would make on your 7 year drop.. that’s an average of $200,000)

So time to retired! If your young and smart you can even start a second career if you are that greedy.

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So sorry its here till at least the next contract expires 9/30/2021, no promotion for you.

Time to drop you old fools. Do the math
You ain’t going to live for ever.

Can have more if you put more into deferred comp

Quote:

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Originally Posted by Unregistered

The person cap is $120,000 yearly for anyone above Commander.

Drop

$120,000 X 7 year drop = $840,000
1% contribution average is $200-$300,000
Deferred comp average is $100-$200,000
Vacation cash out average is $50,000
Illness time average is $50,000

A saving of a $1.2 million dollars
The average on that at a 3.5% fix yearly interest = $42,000 dollars extra a year

$120,000 pension + $42,000 interest your taking home well being retired $162,000 a year.

(I didn’t count the interest you would make on your 7 year drop.. that’s an average of $200,000)

So time to retired! If your young and smart you can even start a second career if you are that greedy.

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I'm impress by your mathematical knowledge, just a few questions to get to the end result where do get those numbers . How many people are above commanders , how many actually complete the seven years , you assumed that everyone has a large pay out on vacation illness time etc ,do you consider taxes taking out at the end . The problem is that when someone read what you wrote they are going to think that we all make that kind of money which is far from been true , the reality is that most cops retired with perhaps a decent retirement but far from been wealthy and when you count cost of living increases in the future is a sad reality just asked cops that retired twenty years ago .

The BSO coward deputy who retired recently gets $8k a month.

Regular joe working in the private sector gets social security the most $2k a month.

Quote:

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Originally Posted by Unregistered

I'm impress by your mathematical knowledge, just a few questions to get to the end result where do get those numbers . How many people are above commanders , how many actually complete the seven years , you assumed that everyone has a large pay out on vacation illness time etc ,do you consider taxes taking out at the end . The problem is that when someone read what you wrote they are going to think that we all make that kind of money which is far from been true , the reality is that most cops retired with perhaps a decent retirement but far from been wealthy and when you count cost of living increases in the future is a sad reality just asked cops that retired twenty years ago .

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Really you think my facts are bad! Matter of fact they are way low.

First of all these retirement calculations are for commanders and above.

Lts makes $105,000
Captains $115,000
Commanders average salary is $125,000 - $135,000

I’ll let you in on some scams.

Staff DO NOT doc vacation or illness time from the books. That means that they maximize their cash out pay.

Ortiz and lugo screwed all of the officers on the last contact negotiations. If they were smart they would had made the overtime and off duty jobs pensionable like the county and Miami Beach.

Quote:

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Originally Posted by Unregistered

I'm impress by your mathematical knowledge, just a few questions to get to the end result where do get those numbers . How many people are above commanders , how many actually complete the seven years , you assumed that everyone has a large pay out on vacation illness time etc ,do you consider taxes taking out at the end . The problem is that when someone read what you wrote they are going to think that we all make that kind of money which is far from been true , the reality is that most cops retired with perhaps a decent retirement but far from been wealthy and when you count cost of living increases in the future is a sad reality just asked cops that retired twenty years ago .

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Cops that retired 20 years ago would pay $120,000 for a new 4 bedroom house. Try finding that now.

So what your saying is that retired cops retire with a decent retirement but they are far from being wealthy.

So why did you screw them over with the reserve program and the off duties?

You can’t have it both ways.

How not to pay Taxes on illness and vacation time when retired. It’s call rolling it over to pay your health insurance or deferred como.

Quote:

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Originally Posted by Unregistered

Really you think my facts are bad! Matter of fact they are way low.

First of all these retirement calculations are for commanders and above.

Lts makes $105,000
Captains $115,000
Commanders average salary is $125,000 - $135,000

I’ll let you in on some scams.

Staff DO NOT doc vacation or illness time from the books. That means that they maximize their cash out pay.

Ortiz and lugo screwed all of the officers on the last contact negotiations. If they were smart they would had made the overtime and off duty jobs pensionable like the county and Miami Beach.

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If staff doesn't have vacation use, deducted from there balance, that's stealing from the city and the city will never do a damn thing about it. People earn what they earn! What's wrong with trying to bank as many hours as you can for retirement? I think your errored on the Lt's pay, are they starting out at 105k, when they are promoted? Where's this interest your getting? Beside everyone above the rank of officer is overpaid in my opinion, especially for the amount of work they do. I don't believe commanders get overtime, they are part of the staff and staff is salary. They work 40 they get paid for 40, they work 50+ they still get paid for 40. The way I was lead to believe is that your last 3 years of pay is added, then divided by either 12 0r 36. Officers that put in 30 get 64% of the adv of those years. Staff has always left here well! While officers if they put the time in 64% so to make it easy math. You make a 100K, you'll with 64% of that.
How many officers are making a 100K??

Overtime and off duties are out of control here, same people get the same ones over and over again. Jobs are held for the F%F plan. I've known officers that retired make in the 40's. You still got medical to pay and dues to the union. Why start a second career? After burning yourself out doing 30??

The Drop is over. There is no more drop. The back-drop has a catchy name but is no a drop. Keep on with the wishful thinking. Go to CALEA and have them spell it out for you. You will cry for believing the lie