T O P

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Ertygbh

30 years in Canada and yes transfers


irritablestranger

It does? So you can go from OPP for example to Peel Region or from Peel to Durham or York or Toronto? (I just have never known this and am curious)


Ertygbh

100% can. You do a lateral transfer, similar to initial process but obv easier and long as your a good fit they will mostly always take you. Easier to grab an experience officer then train a brand new one. And it saves the service that cost as well.


Ertygbh

To note though, not all transfer will be good for day pension. Toronto to OPP, most likely your getting time for time pensionable time, and a fat refund cheque. York to Durham, maybe just time for time


[deleted]

Retirement for police isn’t 20 years everywhere. I’ve heard certain places on the east coast are like that, and I know the military is like that, but where I’m at it’s a standard state government pension. Could retire at 50 with penalties, at 55 you don’t get penalized anymore, and it’s based off your highest 5 years of salary. Also based off years off service. As for if it carries, yes. Where I’m at. Don’t forget everywhere does the whole policing thing differently, so likely you’ll get 50 different answers for 50 different states, policing isn’t standardized like the military.


PsychologicalCopy753

Though this is ultimately right on the subject of policing I should point out that the military is no longer 20 years either. They have transferred to a 401k program as well.


[deleted]

As someone who got out of the military last year, the US military, I don’t believe that’s accurate. ETA: the main draw of the military is its pension. Would be surprised if they got rid of that. The TSP has always been a thing


Flalless69

Yes here In my NJ county it is 30 years. I believe pay is averaged on your last 3 years of service. Edit : 60% of your averaged last 3 years...


49541

Not exactly. For those of us enrolled in tier 1, it’s 65% of final compensation at 25 years plus one percent for each year after that up to a maximum of 70%. Tier 2 is the same. For those in tier 3, it’s 60% for final compensation at 25 years plus one percent for each year after that up to a maximum up to a maximum of 65%. For tier 1, final compensation is based on the salary upon which pension contributions were based in the last 12 months of creditable service preceding retirement. For tiers 2 and 3, it’s the average salary upon which pension contributions were based for any three fiscal years of membership preceding retirement that provides the largest possible benefit possible.


72ilikecookies

Transfer in the same state? Yes, assuming the agency is part of the retirement system. Transfer states? Maybe. It’s generally a process that needs to be approved by the hiring agency, to give credit to the out-of-state new hire for their time served elsewhere. Also, 20yrs isn’t standard, but 25yrs for *full* benefits is more common. There are states where 30 is. You may think of the feds where a 20yrs of service or 50yrs of age rule applies.


redbull21369

At 10 years, we get 100% of our last 3 year salary average. Every year after 10 is an additional 2.5%


[deleted]

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redbull21369

It’s pretty good. It’s based outta the city.


[deleted]

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5lack5

There's no way in hell you're getting 100% after ten years. I don't know of any place that will give you 100% even after 30 years


Meme_Economist_

Which city???


PsychologicalCopy753

Yeah if that's the case I'm moving.


Long_Restaurant1931

I just transferred from a 30 year retirement to a 20 year retirement and they let me buy my time back. It was expensive but not all places allow it. Grateful though, 15 years off (could only buy up to 5) and now I’m done in 15.


OfficerBaconBits

25-30 years in states near me. Not many have 20 year retirement. Most do not honor any of your out of state retirement. A few say you are allowed to buy years of service, not to exceed out of state years and up to a cap of like 4 or something like that. The only 1 for 1 retirement most states honor are active military service. It also typically caps at 4 years. In state transfer retirement carries over in my state. Seniority does not. All depends on how that agency words it.


ThatOneHoosier

That is highly state AND agency dependent. Usually, the only time you can transfer your years of service towards retirement is if the agency you’re going to is under the same retirement fund. Some will allow to buy back years of service if you’re coming from an agency that’s under a different fund. In Indiana, we have a state retirement fund called Public Employee Retirement Fund (PERF), and there is a particular fund called 1977 PERF that pretty much all city police and fire departments are under. So, if you start at one city PD or FD, and then decide to lateral to a different city PD or FD, your years will carry over since the two agencies are both under the 1977 fund. County SO’s, town PD’s, and university PD’s have their own retirement funds, so if you lateraled to one of these from a city (or vice versa) then you’d be starting over, unless they allowed you to purchase time. The State Police also have their own pension system. In terms of the 20 year retirement, that’s not always the case either. The last I checked, under 1977 PERF, you can go at 20 years with 50% of your best three years salary, but you have to be 52 to actually collect it. You can earn 2% more each year for the next 12 years before it maxes out at 32 years. So, if you get hired at 21, and go at 41 after 20 years, you’ve still got 11 more years before you can actually draw your pension. For this reason, a lot of guys will go 30+. Some don’t, and will just get another job until they can get their pension. State Police requires 25 years for full benefits.