# Retirement Question



## BuddyTheBallyhoo (Mar 27, 2019)

Is there any reason to stay past 32 years at age 55? Because I can't think of any reason.

No more step raises, in my case no chances of promotion, only increases are contract raises which have been paltry.

Is there any reason to stay once you reach 80%??? Did you? Will you? Why would guys stay?


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## kdk240 (Nov 7, 2002)

Go. 
You pretty much answered your own question with the facts.
Go and dont look back.


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## RodneyFarva (Jan 18, 2007)

Pull the yellow handle!


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## LA Copper (Feb 11, 2005)

That would depend. What, or who, do you have waiting for you at home when every day is a day off. Think about it.....


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## BuddyTheBallyhoo (Mar 27, 2019)

LA Copper said:


> That would depend. What, or who, do you have waiting for you at home when every day is a day off. Think about it.....


Yes, good point. Kevin Gilmartin talks about the "Usta's"
I used to fish...I used to run... I used to whatever.

I used to do a lot of cool shit, the I got married, a huge house and became a Dad. Now I'm a "usta"


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## Bananaman (Apr 8, 2019)

BuddyTheBallyhoo said:


> Is there any reason to stay past 32 years at age 55? Because I can't think of any reason.
> 
> No more step raises, in my case no chances of promotion, only increases are contract raises which have been paltry.
> 
> Is there any reason to stay once you reach 80%??? Did you? Will you? Why would guys stay?


If you work past 32 you're basically working for free. (80% of your salary while not paying state tax or pension contributions will equal roughly your current take home pay)


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## Bloodhound (May 20, 2010)

Bananaman said:


> If you work past 32 you're basically working for free. (80% of your salary while not paying state tax or pension contributions will equal roughly your current take home pay)


Not quite that simple but I hear a lot of cops say this. It depends on your situation and which retirement option you take (A, B, or C). A lot of folks take C because they want their spouse to keep receiving the pension after the officer dies. In this case you won't be collecting at 80%, it will be less. If you are 55 and currently making 30 or 40 grand a year in overtime/details, it may very well make sense, at least financially, to hang around for a while just for that. Or, maybe retire and get a private sector gig for a while. Everybody's situation is different.


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## Drebbin (May 1, 2015)

Retirement does not mean you have to sit at home all day. Its just the opposite you can do whatever you want to do. Travel or get another job doing something else. Everyday does not have to be a day off unless you want it to be. Think about that.... I would look at your situation and if it is do able I say go for it.


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## 02136colonel (Jul 21, 2018)

I’m on the opposite side of my career, just starting out, so I can’t speak from experience, but I think your best option is to retire at 55 and get a job at a campus PD that has a generous 401k match, max out your contributions on that plan, get in your quarters to collect social security, and then fully retire whenever you feel like it. Also, look at what the school offers for education benefits if your kids are getting ready to go off to college, or if they already graduated and want to do grad school. It’s often free or you only pay 10% or so.
I’m on a campus job now but hopefully will be going municipal soon. Who knows maybe we can trade jobs lol.


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## BxDetSgt (Jun 1, 2012)

Nice problem to have!! I have been dreaming all month about retirement after we got our pension statements. Im on the right track and the clock is ticking!!


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## BuddyTheBallyhoo (Mar 27, 2019)

I plan on working as I am not the type to sit still. I just don't know what I would like to do. I want to leave the world of law enforcement in my rear view mirror. No academy teaching or campus stuff, I'm done with this job when I'm done. I know some guys take on reserve officer positions and do details. But man...I don't know if I want to do that crap.


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## BxDetSgt (Jun 1, 2012)

BuddyTheBallyhoo said:


> I plan on working as I am not the type to sit still. I just don't know what I would like to do. I want to leave the world of law enforcement in my rear view mirror. No academy teaching or campus stuff, I'm done with this job when I'm done. I know some guys take on reserve officer positions and do details. But man...I don't know if I want to do that crap.


I am working right up to the end, and then hopefully never working again. I am hanging up the uniforms and the suits and never putting either one on again. No thin blue line flags, no stickers, no t shirts, just a retired ID and a pair of flip flops!!


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## BuddyTheBallyhoo (Mar 27, 2019)

I should say retirement isn't imminent, but close enough so I need to start planning for the second career if I want to leave right at 32/55. I don't want to be that guy who stays simply because he doesn't know what else to do.


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## BxDetSgt (Jun 1, 2012)

BuddyTheBallyhoo said:


> I should say retirement isn't imminent, but close enough so I need to start planning for the second career if I want to leave right at 32/55. I don't want to be that guy who stays simply because he doesn't know what else to do.


It pays for us to stay with extra percentage and a banked variable payment every year after 20, and our OT is pensionable.


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## BuddyTheBallyhoo (Mar 27, 2019)

BxDetSgt said:


> It pays for us to stay with extra percentage and a banked variable payment every year after 20, and our OT is pensionable.


At what point do you max out?

If our OT was included in our pension that would be a game changer. Unfortunately it's not...32 years, pension on base pay only.


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## pahapoika (Nov 5, 2006)

Some people can make mad OT with rank and seniority even after maxing out.

That is until their health runs out. Even then see them coming back doing details part-time.

Job can ruin people. Turn them into head cases.

Have seen a couple success stories.

Electrician
Gun shop owner
Truck driver

Sounds like you're ready to bail. Got the right idea planning now before retirement.

Good luck


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## Goose (Dec 1, 2004)

BxDetSgt said:


> I am working right up to the end, and then hopefully never working again. I am hanging up the uniforms and the suits and never putting either one on again. No thin blue line flags, no stickers, no t shirts, just a retired ID and a pair of flip flops!!


Don't forget the snubbie.


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## Edmizer1 (Aug 27, 2006)

There is really no reason. I heard a nearby chief was making $27 more a week by staying on. He was at war with the Mayor, two unions, many citizens, and the DA. Everyone was suing him, trying to fire him and/or indict him. He was actually a good chief but in a terrible situation. I'm not sure the $27 per week was worth it. He eventually caved in.


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## Johnny Law (Aug 8, 2008)

I don’t give a shit if I drive a trash truck in retirement, in less than 5 years and three months, I’m out of this profession completely. I weep for the future, .....make that the present....., of this job.


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## Bananaman (Apr 8, 2019)

If your only staying on for the OT, your first 40 hours will essentially be unpaid. So if you work 10 hours of OT/details a week for an extra 30k, your Basically working 50 hours a week for 30k. Might as well get a private sector gig


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## samadam78 (Nov 10, 2007)

Every day past 80% youre risking some shit head suing you and some ass clown liberal judge bending you over..... if youre lucky enough to make it GET OUT


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## BxDetSgt (Jun 1, 2012)

BuddyTheBallyhoo said:


> At what point do you max out?
> 
> If our OT was included in our pension that would be a game changer. Unfortunately it's not...32 years, pension on base pay only.


The only limit is age, mandatory at 62.


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## BuddyTheBallyhoo (Mar 27, 2019)

BxDetSgt said:


> The only limit is age, mandatory at 62.


Roger that, thanks Sgt


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## LA Copper (Feb 11, 2005)

BxDetSgt said:


> The only limit is age, mandatory at 62.


You guys have to retire by 62? I didn't know that. We have no age limit, which may or may not be a good thing, depending on the person.


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## AB7 (Feb 12, 2019)

Retire and go find something that you enjoy doing for the rest of your life. You put your time in, make the most of your later years. You have up to 5 years to change your mind and get another job doing something law enforcement if you decide that whatever you pick isn’t working out for you.


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## Edmizer1 (Aug 27, 2006)

LA Copper said:


> You guys have to retire by 62? I didn't know that. We have no age limit, which may or may not be a good thing, depending on the person.


The age limit is actually 65 but it is mandatory that you retire at the end of the month of your 65th birthday. There are some rare cases where people go to the state legislature for special acts that individually exempt them but those are rare.


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## Edmizer1 (Aug 27, 2006)

Speaking of retiring / quitting, I just heard of a case where this issue came up. Once you give a police employer in Mass a date you are leaving or suddenly tell them you "quit", the employer can hold you to that decision if they want to and you have no recourse.


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## Bloodhound (May 20, 2010)

Edmizer1 said:


> Speaking of retiring / quitting, I just heard of a case where this issue came up. Once you give a police employer in Mass a date you are leaving or suddenly tell them you "quit", the employer can hold you to that decision if they want to and you have no recourse.


True! Seen it happen.


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## BxDetSgt (Jun 1, 2012)

LA Copper said:


> You guys have to retire by 62? I didn't know that. We have no age limit, which may or may not be a good thing, depending on the person.


Yep, technically 62 years 364 days. But OT counts toward the number plus a banked variable after 20, and an extra 1/160th for every year after 20. Its looking pretty good right now.


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## LA Copper (Feb 11, 2005)

Edmizer1 said:


> The age limit is actually 65 but it is mandatory that you retire at the end of the month of your 65th birthday. There are some rare cases where people go to the state legislature for special acts that individually exempt them but those are rare.


Roger that. I knew Massachusetts had a mandatory 65-year-old retirement age but I didn't know NYPD had a retirement age also.

We've had a few guys over the years stay into their 70s for one reason or another. Pretty unusual but it can happen out here if someone wants to and they're healthy enough.


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## CCCSD (Jul 30, 2017)

Old school Khaki Officers?


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## j809 (Jul 5, 2002)

LA Copper said:


> Roger that. I knew Massachusetts had a mandatory 65-year-old retirement age but I didn't know NYPD had a retirement age also.
> 
> We've had a few guys over the years stay into their 70s for one reason or another. Pretty unusual but it can happen out here if someone wants to and they're healthy enough.


State Police has no age limit which is insane. I heard there was a guy in late 70s working at airport.

Sent from my iPhone using Tapatalk


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## LA Copper (Feb 11, 2005)

The few guys we've had working into their 70s were not working the streets, a few were long time detectives and a couple had admin jobs. There's no way they could work the streets of Los Angeles (or any major city) at that age, it would be much too dangerous.


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## USAF3424 (Mar 18, 2008)

We had a guy on my shift work right up until 65 and he was probably one of the most active cops in the district. Retired and took a campus job right up the street.


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## pahapoika (Nov 5, 2006)

USAF3424 said:


> We had a guy on my shift work right up until 65 and he was probably one of the most active cops in the district. Retired and took a campus job right up the street.


The old superintendent Eddie Connolly petitioned the city to extend his retirement. Wanted to die on the job. Ended up retiring anyways and heading up the Harbor Point Security.
Great book. He had his detractors, but can't deny very interesting career.


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## BuddyTheBallyhoo (Mar 27, 2019)

I wish I were one of those guys who loved being a cop and fought to stay on past 65, but I'm not, not even close. I'm on the road dealing with the same idiots at the same addressed with the same bullshit. If I we're upstairs working M-F, who knows. But I'm not.

Then the question becomes, what next? What have your peers gone on to do that has worked out well for them? What have you guys seen that has not gone well. Knock on wood, my marriage is strong, So don't think I'll have to deal with the crippling effects of divorce, I pray. 

I just don't know what I want to do next.


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## Bloodhound (May 20, 2010)

j809 said:


> State Police has no age limit which is insane. I heard there was a guy in late 70s working at airport.
> 
> Sent from my iPhone using Tapatalk


27 years since "the merger" and this still hasn't been resolved.


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## j809 (Jul 5, 2002)

Every one of my guys that retired say they wish they did earlier. They all love it and never looked back. Just make sure your finances are in order and have no mortgage and other debt and you will love life. One of them works two details a week and makes and extra $1000, not bad and has his own schedule to do what he loves.


Sent from my iPhone using Tapatalk


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## LGriffin (Apr 2, 2009)

Retire as soon as you can and work details.
Don’t want to work? Don’t sign up for a job. 
I know exactly how you feel right now but you’ll still miss the good times after you pull the plug.
If you’re on a local PD that has specials, stay on in that capacity.
If you’re MSP, apply to be a meatball on a local PD that allows specials to do details. Sure, you won’t be as beautiful in that new uniform but get over it. Put on that PD baseball cap! No, it’s not a cover but no one else is going to pay us $50+ per hour to work when we choose to.


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