pension contribution

I am a South Florida LEO and I am considering applying to your agency. I was wondering what my pension contribution would be. Thanks in advance.

Have you not googled LPD. If so you surely are not still considering applying at LPD. The PD and the city are a train wreck. Pension contribution is around 3% and goes up and down depending on what our union "experts" think.

Thanks for the response. 3% sounds very low. We pay much more down here. I will investigate further before I apply. Thanks!

Have you not googled LPD. If so you surely are not still considering applying at LPD. The PD and the city are a train wreck. Pension contribution is around 3% and goes up and down depending on what our union "experts" think.

Are you crazy?!? We contribute way more than 3%!

The Lakeland pension is a train wreck so don't count on it to fund your retirement if you choose to work here. Go work for an agency which is in the Florida Retirement System if you want a safe pension.

I apoligize. Our multiplier is 3%.. we pay between 14-15% into retirement. Thank you for pointing out my error... Our retirement isnt that bad in my opinion..

http://collinsinstitute.fsu.edu/site...PercFunded.pdf

The Lakeland pension fund is at the bottom of the list with 80% funding, which is after the big stock market run up. It was only 50% funded back in 2009.

If this is true which I have no reason to believe it is not, out pension is in big trouble in the future. Just as guest said the stock market has had a good run up. My deferred comp has benefitted greatly. I believe there is a false floor that will eventually give way thus causing our lension to have great troubles. This means that out contributions will have to go way up in the future to compensate. Of course this is after our current great PBA leadership is gone. More of a reason to get rid of our current spinelsss PBA leadership. Stand strong

If this is true which I have no reason to believe it is not, out pension is in big trouble in the future. Just as guest said the stock market has had a good run up. My deferred comp has benefitted greatly. I believe there is a false floor that will eventually give way thus causing our lension to have great troubles. This means that out contributions will have to go way up in the future to compensate.

Here's another problem - the pension is guaranteed to underperform the stock market because of the high fees the portfolio manager charges. Ask your pension trustees how much the fund is paying out in fees as a percentage of assets. Or if the portfolio is indexed. Bet they don't know. Unless the pension portfolio is indexed, the fees for active management are very high. High fees mean less return and more cash needed to ensure long term financial viability.

Seems this is another secret being kept from us by our trusted union. Its no surprise that our reps do not care if it underperforms as they will all be retired before it collapses. I also challenge anyone to tell me how we get rid of our union leadership because from what ive been told and read they are elected for life. There is no process to remove them or even have a vote every few years... Seems like a dictatorship...stand strong