Why can't teachers/cops live with 401(k)'s instead of pensions?

[fishpoopoo]

Originally Posted by The Dad Fisherman

If I'm not mistaken, you the federal governemnt goes 25/55 or 20/60.....in other words to retire you need 25 years of service AND have to be 55 years old to retire.

a lot of the guys that are contracting w/ the government are ex-military...where the age rule does not exist. do 20 and collect, then contract out.

the federal government has also changed, where now the retirement plan is more of a 401k format. not a pension. people are grandfathered in depending on start of service date whether they qualify for pension or savings plans

not just law enforcement ... IT and systems folks (=nerds) with security clearances likely outnumber LEO double dippers.

[The Dad Fisherman]

Originally Posted by fishpoopoo

not just law enforcement ... IT and systems folks (=nerds) with security clearances likely outnumber LEO double dippers.

That would be me...

I actually work as a contractor in the IT department in DOD and what I described is how it is in our department. I'm looking to cross over to Government, and we've had a few already do so. What I described is how it is now-a-days. 401k for new hires going forward....been that way for probably 5 years