FRS - New Guy Challenge

[Unregistered]

You want to get passionate about something that relates to unions and politics? Jump on FRS. For you new people I would make this a life goal. Because you all are screwed with what you will get. The State is Florida shit you out. If you’re really new you probably don’t care. But you will in another 20 to 25 years.

Now follow me. I accrue 3% every year. That means it adds up. At 25 years I have accrued 75%. If I want to punch out at 25 years I get 75% of the average of my highest paid five years. They count everything I was paid (differential, overtime, buy backs) except detail pay. They take those five years and average them. Then I get 75% of that for the rest of my life. And I get a cost of living increase (COLA) on top of that every year as well. That COLA is currently declining g because the state changes that too.

What are you getting? 30 years now equals 75%? That sucks. You’re getting screwed.

FRS is one of the best funded retirements around. But some douche bag politician changes it, claiming the state hits short falls. And then Rick Scott screwed is out of 3% that we all now pay in ourselves. Thank you for that billionaire asshole who doesn’t have to worry about a retirement.

Some of you new guys need to get involved with the unions and like now. Unions can have political influence. There are levels of unions at the local, state and national level. If the unions ever got their act together they could sway elections which would give us a voice.

There is not much we lack at PCSO. We are spoiled with equipment, training and pay. So i can’t think of anything I would push for other than a change to your FRS. The FOP and PBA need to wake up and get radical about FRS. Like getting you folks back into what I get. Like freezing that COLA or making it higher. 25-30 years in this job will take a toll on you. Fight for what you get when you retire. If you don’t fight for it now it will be too late when you are close to using it.

Just my two cents.

[Unregistered]

The COLA has been gone since 2010. That means that al the time accumulated since then has no COLA provision during retirement. It's a big benefit loss for FRS members to the tune of hundreds of thousands of dollars, depending on life expectancy.

Full retirement is 30 years on duty or age 60 if you want to avoid the penalty, assuming you started after 2010.

The LEO unions have been ineffective so far in restoring our benefits and it is very unlikely they will succeed in the future. Assuming this worst case scenario, the only alternatives are to save a lot of money for retirement and have debts paid off before retirement or get another job after retirement.

Good luck to all!

[Unregistered]

It is still 3% per year.....so 90% after 30.

https://www.myfrs.com/FRSPro_ComparePlan_BenificCal.htm

[Unregistered]

It is still 3% per year.....so 90% after 30.

https://www.myfrs.com/FRSPro_ComparePlan_BenificCal.htm

That's not the COLA, that's the annual pension accumulation rate. You get 3% a year high risk.

The COLA is your pension benefit increase after you retire, issued every July. Except for people hired after 2010, they will never get an annual COLA. Their pensions will stay fixed until they die.

[Unregistered]

The first post said the pension is at 75% for 30 years of work. That is wrong.

Also, COLA went away for everyone in 2011 and is prorated for time worked before that. If you only did 1/3 of your time before then, you only get 1/3 COLA (1%).

[Unregistered]

The newbies are screwed and they will not even know it until they retire. Too busy now chasing tail every other weekend at the clubs. Enjoy it while it lasts.

[Unregistered]

Most of the young guys don’t care and most wont be here in five to ten years. They will leave law enforcement and a select few will go to city police departments. The ones that stay, you will be unpleasantly surprised when you retire.

[Unregistered]

Most of the young guys don’t care and most wont be here in five to ten years. They will leave law enforcement and a select few will go to city police departments. The ones that stay, you will be unpleasantly surprised when you retire.

Exactly. Right now Tampa is the place to be - 20 and out with an annual COLA and higher pay. Even St.Pete beats the FRS. It's pathetic.