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  1. #21
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    Quote Originally Posted by Unregistered View Post
    Not a chance of reinstalling the COLA especially with the stock market taking a crap lately reducing the FRS pension fund.

    You will have to have about $300k - $400k in retirement savings to offset the COLA shortfall, depending how long you live in retirement.
    So we couldn't get it reinstated the past 4 years with a huge FRS surplus . And now won't get it because of the bear market (which we all know is temporary). I don't want to accept that it's gone for good.
    Nurses are taking care of Corona now without special risk in FRS, no hazard pay like nurses in Corrections, it seems now is best and maybe last chance to get pension Cola. Worth a try.. Governor saw the conditions were working under. 🤞

  2. #22
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    Quote Originally Posted by Unregistered View Post
    So we couldn't get it reinstated the past 4 years with a huge FRS surplus . And now won't get it because of the bear market (which we all know is temporary). I don't want to accept that it's gone for good.
    Nurses are taking care of Corona now without special risk in FRS, no hazard pay like nurses in Corrections, it seems now is best and maybe last chance to get pension Cola. Worth a try.. Governor saw the conditions were working under. 🤞
    Who told you the FRS was running a surplus in the past 4 years? Not true because the FRS was never more than 90% funded so no surplus. The COLA was cut in 2011 due to the 2009 bear market so don't expect it to be reinstated after the current bear market. Besides the state is trying to push employees into the investment plan.

  3. #23
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    The state doesn’t realize that it will cost them more money with guys hired before 2011. These guys will work 30-33 years and get 90-100 percent of their pension. They aren’t saving anything. The right thing to do is have a 401k and cash out all your comp, vacation, sick time when you retire. 30 years would equal about $8k a month before taxes and health insurance. When you reach retirement age, the only taxes you pay is federal. The politicians don’t realize that COLA will save them money. First, you don’t collect COLA until five years after you retire. It then takes 5-15 years to get to 90 percent, depending how COLA you obtained prior to 2011. I would skip the drop and just work the 30years. If you are a new guy, you got to work 35-38 years. I would go to Tampa or Clearwater.

  4. #24
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    Quote Originally Posted by Unregistered View Post
    The state doesn’t realize that it will cost them more money with guys hired before 2011. These guys will work 30-33 years and get 90-100 percent of their pension. They aren’t saving anything. The right thing to do is have a 401k and cash out all your comp, vacation, sick time when you retire. 30 years would equal about $8k a month before taxes and health insurance. When you reach retirement age, the only taxes you pay is federal. The politicians don’t realize that COLA will save them money. First, you don’t collect COLA until five years after you retire. It then takes 5-15 years to get to 90 percent, depending how COLA you obtained prior to 2011. I would skip the drop and just work the 30years. If you are a new guy, you got to work 35-38 years. I would go to Tampa or Clearwater.
    What are you talking about? Go do some reading on the FRS website first.

  5. #25
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    Quote Originally Posted by Unregistered View Post
    The state doesn’t realize that it will cost them more money with guys hired before 2011. These guys will work 30-33 years and get 90-100 percent of their pension. They aren’t saving anything. The right thing to do is have a 401k and cash out all your comp, vacation, sick time when you retire. 30 years would equal about $8k a month before taxes and health insurance. When you reach retirement age, the only taxes you pay is federal. The politicians don’t realize that COLA will save them money. First, you don’t collect COLA until five years after you retire. It then takes 5-15 years to get to 90 percent, depending how COLA you obtained prior to 2011. I would skip the drop and just work the 30years. If you are a new guy, you got to work 35-38 years. I would go to Tampa or Clearwater.
    Clearwater sucks. Look how many come to PCSO because their pension sucks. Tons of them.

  6. #26
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    Quote Originally Posted by Unregistered View Post
    Clearwater sucks. Look how many come to PCSO because their pension sucks. Tons of them.
    If you want a good pension go to TPD or SPPD. Otherwise stay here or CPD and take it.

  7. #27
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    G4S is always hiring. After retirement from the agency you can go full or part time with them.

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