More than 6,400 Mass employees make over $100K

[Jim in CT]

Originally Posted by Chesapeake Bill

Swimmer,

You hit it right on the head. The overtime money is typically DHS funding through UASI grants and other Federal programs that are not counted toward retirement. SO using the salaries of employees (especially police) is not a good indicator of how much the state is on the hook for as far as retirement benefits go. It is an indicator of how well representatives are able to get funding back to their states. But why limit ourselves to the facts when we can have a proper witch hunt? The fire is so much brighter to the uninformed...

Bill and Swimmer, here in CT, I do not know of a town where overtime does not contribute to cops' pensions. I have served on my town's board of education, so I know a lot about public unionized employees compensation. As a former benefits actuary, I also know exactly how much more expensive a pension is than a 401(k). If I'm uninformed, can you please point out somethiong I said that's wrong, instead of insulting me simply because you don't like what I'm saying?

Bill, instead of hurling insults at me (and baseless insults at that), can you try to answer a simple, direct question?

"If the entire private sector has to live with whatever we can accumulate in our 401(k)'s, why is it unfair to ask our public servents to do the same?"

Try not to call that question a "witchhunt", and instead try answering it.

And why on Earth is it reasonable that cops can collect those pensions afetr 20 years of service, with no age minimum? My first cousin was a police officer in New Haven, CT. He retired at age 43, and yes, his overtime fattened his pension. He works for 20 years, and gets a pension for 50 years?

[The Dad Fisherman]

Originally Posted by Jim in CT

Bill and Swimmer, here in CT, I do not know of a town where overtime does not contribute to cops' pensions.

CT Town Reaches Police Pension Agreement
January 31, 2011 (PLANSPONSOR.com) – The town of Stratford, Connecticut, has hammered out an agreement with its police union to institute a 401(k) for new hires instead of traditional pensions.

A Connecticut Post story said under the new contract, the town will match 401(k) contributions made by future employees up to 6%. The agreement does not change the pension benefits for current employees.

About 60 officers hired between 1996 and July 1, 2010, will receive pensions based strictly on base pay. Officers hired before 1996 -- there are about 39 of them -- will continue to receive pensions calculated from their base pay plus overtime, the news report said.

Several police and fire department retirees now receive more than $100,000 in pension payments each year, including a police captain who retired last spring with an annual pension of $134,000 -- far above his last salary, according to the newspaper.

A $1,200 cap on health insurance obligations has also been erased, making current and future employees responsible for 12% of their insurance premiums. On July 1, 2012, that amount will increase to 13%.

The agreement still has to be ratified by the Town Council.

[TheSpecialist]

Originally Posted by The Dad Fisherman

CT Town Reaches Police Pension Agreement
January 31, 2011 (PLANSPONSOR.com) – The town of Stratford, Connecticut, has hammered out an agreement with its police union to institute a 401(k) for new hires instead of traditional pensions.

A Connecticut Post story said under the new contract, the town will match 401(k) contributions made by future employees up to 6%. The agreement does not change the pension benefits for current employees.

About 60 officers hired between 1996 and July 1, 2010, will receive pensions based strictly on base pay. Officers hired before 1996 -- there are about 39 of them -- will continue to receive pensions calculated from their base pay plus overtime, the news report said.

Several police and fire department retirees now receive more than $100,000 in pension payments each year, including a police captain who retired last spring with an annual pension of $134,000 -- far above his last salary, according to the newspaper.

A $1,200 cap on health insurance obligations has also been erased, making current and future employees responsible for 12% of their insurance premiums. On July 1, 2012, that amount will increase to 13%.

The agreement still has to be ratified by the Town Council.

Seems as though I am not the only one who has no idea about what sprouts from my mouth.

[Jim in CT]

Originally Posted by TheSpecialist

Seems as though I am not the only one who has no idea about what sprouts from my mouth.

ZSpecialist, and Dad -

And the cops hired before 1996? I assume their pensions are fattened with overtime?

I never said there aren't towns that don't consider overtime, I said I wasn't aware of any, and now I am.

So Specialist, I guess there's no budget crisis facing governments because of benefits? Do you really believe that?