PCPD Pension

Just a question as I am considering a change from my current agency, what are the terms of your pension, ie. contibution rate, accrual and retirement collection terms?

We have a 20 year retirement plan. At 20 years you can retire at 75% of your pay. We also have a 7 year max DROP plan. We contribute 10% into the plan.

Thanks for the info, as a follow-up, do you have an age based early option, for example, my current agency, if you are vested (7 years service), you can go at age 55 with whatever you have accrued. IE, you come on at 48, work 7 years, you leave at 55 with 21%.

Thanks again

We have a 3.XX% multiplier. You are vested at 10 years.

it's a 3.75% multiplier with 75% after 20 years. vested after 10 years. you can retire when you reach 50 yoa or 20 years of credited service regardless of age.

Also curious, upon retirement, do you keep some form of your healthcare coverage?

We do not have healthcare available for after your retirement.

Does PCPD give credit for experience (increase starting pay) and if so how much.

Only if you left for Polk County to come back a year later....

Wow. Those are very limited parameters...Does it have to be Polk County?