Mass retirement ?? | MassCops

Mass retirement ??

Discussion in 'Retirement & Investments' started by Home Wood, Jun 23, 2010.

  1. Home Wood

    Home Wood MassCops Member

    Can somebody explain how retirement works in Mass?

    In NC we have 30 year retirement, no min. age, 80% of salary and I keep health bennys for life.

    We can use all saved up sick time to leave early. If I save at least 2 years of sick time, I could retire at 49.

    I need to know this stuff to make an informed decision whether or not I should leave where I am. It's a tough decision.
  2. topcop14

    topcop14 Subscribing Member

    In MA retirement is based on years of service and age. The magic combination is 55 years old and 32 years of service to get you 80 %.
  3. Simon

    Simon Guest

    FYI. People in MA don't retire.............
  4. Home Wood

    Home Wood MassCops Member

    I'm 30. My wife and I want to move home. We have a baby due in the fall, so we want to be back up there with family. We're all by ourselves down here. It's ok, but it's not the same.

    If I can save that sick time or even more, I could be done here in 18-19 years. I have 9 years in.
  5. Bloodhound

    Bloodhound MassCops Member

    I agree. You'll be starting over with 32 years to go if you want your 80%, if it still exists. Hopefully you've been following the bag kicking that Deval has been giving us lately, cause that should certainly factor into your decision-making.
  6. Home Wood

    Home Wood MassCops Member

    There is no way I would be a cop until I was 62. This is a young mans game. I'm 30 and I feel old doing it. I'd work until the minimum age and take the percentage I could get. I have retirement investment accounts to make up the difference.

    Can you buy prior years of service from out of state? I'd buy 5 years if I could and retire in Mass at 50, but I don't know if that's allowed. Do any of you have a phone number I can call to ask about retirement the retirement system?
  7. vttroopah

    vttroopah dirtbaggumus maximus

    Come to VSP. 50% of your high two consecutive years (includes OT and AL bank), once 20 years is served. Minimum age is 50 max is 55. Come in at 31 and leave at 51. The only down is the medical is covered until 65, when Medicaid takes over and the pay is less than most NE states.

    ---------- Post added at 09:40 ---------- Previous post was at 09:39 ----------

    Oh, and NO Civil Service. :smug:
  8. MetrowestPD

    MetrowestPD MassCops Member


    Police Retirement in MA
  9. OfficerObie59

    OfficerObie59 Public Trough Feeder

    Up until a little while ago, my signature used to note that Deval Patrick proposed in January to make our max out retirement age 57 yoa, which is coincidentally the average life expectancy of a police officer in the United States.

    Since I started when I was 21, I would have to put in 36 years to max my pension at 80%. Great if you're working a desk job, but I fully expect to die before then if I stay on the job.

    I think the other issue you're missing is actually securing a job up here...layoffs are aplenty, so good luck competeing with fully-trained MA Academy certified officers who just got pink slips.
  10. 263FPD

    263FPD MassCops Angel

    Fixed it for you, brother.:rolleyes:
  11. Home Wood

    Home Wood MassCops Member

    That's a good point obie59. I will be up on Friday and I will talk to some friends about it. The decision isn't final, but it's something I really want to explore instead of just talking about it. I've always just bull shitted about it and never followed through. I should have done it a long time ago and now I'm just about out of time. I owe it to my wife to at least seriously look into it. and make the best educated decision. Nobody has said whether or not I can buy out of state time...if so, I'd be much more comfortable leaving what I have here.

    As of now I have 40 vacation days. You can bank up to 50 and then the extra vacation time gets dumped into your sick time which you can use every minute to leave early. Retiring at 48 or 49 would be sweet and then we'll move to NH.

    Thanks for the replies. I've got a lot of thinking to do.
  12. bulldogtb

    bulldogtb Subscribing Member

    Massachusetts does not alow you to buy out of state time. FYI MSP is 25 years 75% but no hiring in the near future, 35 years old is the age cut off.

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