I was wondering, is the Quinn Bill added to your retirement for calculation purposes giving you a higher amount towards pension. I hear different things. We get paid twice a year.
Posted by: mikemac64
Quinn is part of your salary for pension purposes. Everyone seems to pay it out differently though. My town pays us their half each week, and we get the states half when it is disbursed. It all depends on how each town modifies it and what each bargaining unit gives/takes to get it in their contract.
Some towns get it in their OT, in addition to receiving it as part of their base pay.
Posted by: j809
Thanks MikeMac, I just noticed that they did take out COunty Retirement from the Quinn Bill check which makes sense. What about OT, is that computed in for retirement purposes, it's all taxable income which the retirement board takes money out of. Just curious!
Posted by: mikemac64
Retirement in MA is ajoke. It seems good on the surface, with them flashing the 80% around. But it takes 32 yers to get 80%. And you can only collect fully over age 55.
The MSP has a different deal (Group 3?) which is mor like what most people want (25/75). Troopers, can you expand on that?
For towns/cities, OT IS NOT part of your pension. Pension is soley on base pay (Quinn, shift dif, a few other small thing). This pension is state tax free.
In NH, it is 50%, after 20 years, at your highest year (including OT/Details).
That is a quick run down of it. My suggetion is to contribute heavily towards your 457 ifyou have it.
Posted by: mpd61
Oh God!!
This State pension is garbage! If I go out at 62 YOA with 23 years of service, I'll get about 50% of shit! And remember, Social Security wacks out a percentage that gets bigger with each cost-of-living-(HA!)increase!
I need a hack $$$ job!
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