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Beginning April 1, police officers and firefighters no longer can enter the Deferred Retirement Option Plan, known as DROP. The plan is meant to keep officers and firefighters with more than 20 years of experience from retiring too young by redirecting their pension earnings to an account that guarantees a high annual interest rate.
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Are you doing your retirement planning in the briefing room or through the patrol car window? It may be better to seek a financial professional who knows your police retirement system and can guide you though the intricacies of retirement.
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Memphis public safety personnel continue to call in sick, fighting proposed cuts to retirement health benefits.
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Before going into recess, the House passed the budget committee's recommendation to increase the amount new government employees have to pay into their pensions beginning this month.
Read More →Stockton’s bankruptcy case, for instance, is further along than Detroit’s, and until Tuesday it seemed likely to leave public pensions fully intact.
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Stockton’s bankruptcy case, for instance, is further along than Detroit’s, and until Tuesday it seemed likely to leave public pensions fully intact.
Read More →U.S. Bankruptcy Judge Steven Rhodes has ruled that pensions of city retirees can legally be cut in Detroit’s bankruptcy — a decision that came as a significant surprise to people observing the case.
Read More →“Everything’s broken,” Chief James Craig said during the third day of Detroit’s bankruptcy eligibility trial in federal court. “Deplorable conditions. Crime is extremely high, morale low.”
Read More →San Jose's police union rejected a 3 percent raise and demanded the city double it to stem the exodus of personnel from the agency.
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San Jose's elected leaders hope a plan to hire 200 officers over four years will stem the tide of a massive exodus of officers following a 10 percent pay cut two years ago.
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