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by Twistyfiasco 25 days ago
At least in my union defined benefit pension it specifically excludes overtime since that obviously is ripe for abuse. It's just your basic calculation: average of your best 5 years of salary at 2% per year of service.

Is that not the case for police unions in the states?

2 comments

FTA: "Although paying for excess hours can cost less than hiring new cops, overtime contributes to future pension costs.

“If your last few years before you retire, you work 300, 400 hours of overtime and bump up your pay by $40,000, that all goes into the salary that your pension is based on,” said Ana Champeny, director of city studies at New York’s Citizens Budget Commission."

So yeah, it seems like a bad idea to be able to scam the pension system like that.

Normally includes overtime and only the best few years. Can juice it to get a pension around your 40 hour salary for life.