"Coward of Broward" Deputy gets 100k pension

[Hopkins Medicine]

https://www.washingtonpost.com/news...100000-annual-pension/?utm_term=.b22ce5a12c9d

You may remember Scot Peterson, the cop who hid outside the school during the Parkland school massacre.

I would have no problem with the guy if he actually tried to do something. Even if he failed and wasn't able to stop the shooter.

He said later that he thought the shooting was outside the building, yet he stood in the same place for nearly 6 minutes while the shooting were going on inside. He's not just a coward, he's a liar.

 

[Urban Cryer]

Pathetic.

 

[JohnnieHolmesNole]

Thousands and thousands of “public safety workers” making 6-figure (lifetime) pensions. Some of those things could roll on for 30+ years. Think about how much money is needed to fund that.....it’s great to be a taxpayer.

 

[LesClaypool]

Hopefully he feels horrendous guilt and that guilt, in turn, causes him to commit suicide.

 

[RunRonnieRun]

Hopefully he feels horrendous guilt and that guilt, in turn, causes him to commit suicide.

Oh my. That’s an awful thought, despite his cowardice and inaction.

 

[LesClaypool]

Oh my. That’s an awful thought, despite his cowardice and inaction.

I thought so too. But allowing kids to die...that's much, much worse.

 

[West Duval Nole]

Did he make 100k per year when working?

 

[LesClaypool]

Did he make 100k per year when working?

He must've made more than that as you retire on a fraction of your highest 3 years (or perhaps your highest 5) years of earnings. So presumably at some point, if not right before he retired, he was making more than he's making now.

 

[JohnnieHolmesNole]

He must've made more than that as you retire on a fraction of your highest 3 years (or perhaps your highest 5) years of earnings. So presumably at some point, if not right before he retired, he was making more than he's making now.

This. Based on his retirement, I am guessing he was making $125K-$135Kish. Multiply by thousands of others, and don’t forget the firemen, and, well, it’s a staggering financial arrangement.

 

[Formerly Rockymtnole]

I always understood it was generally a portion of your highest comp but I think I read that it in this case it was the average of his highest five years. Not sure if it applied here but in a lot of cases the cops will load up on overtime to boost those numbers way beyond their normal salary in order to retire with a much higher pension.

 

[noleit]

A portion of his pension should have go to each murdered student.

 

[OrlandNole]

I always understood it was generally a portion of your highest comp but I think I read that it in this case it was the average of his highest five years. Not sure if it applied here but in a lot of cases the cops will load up on overtime to boost those numbers way beyond their normal salary in order to retire with a much higher pension.

This is my understanding.

 

[Nole Daddy]

What he did was just so bad. He has a lot of blood on his hands because he did not go in.

 

[nynole1]

Thousands and thousands of “public safety workers” making 6-figure (lifetime) pensions. Some of those things could roll on for 30+ years. Think about how much money is needed to fund that.....it’s great to be a taxpayer.

Haven't you heard? Public workers don't get paid enough!

 

[Nole Daddy]

Thousands and thousands of “public safety workers” making 6-figure (lifetime) pensions. Some of those things could roll on for 30+ years. Think about how much money is needed to fund that.....it’s great to be a taxpayer.

How do those pensions work in the state of Florida? Are pensions being fazed out, or is it something someone should expect if they started a career now?

 

[JohnnieHolmesNole]

How do those pentions work in the state of Florida? Are pensions being fazed out, or is it something someone should expect if they started a career now?

To my knowledge, pensions are alive and well in the government sector. The theory — which is undermined by this story — is that quality people will work for less money if they have the promise of long-term retirement security. Again, that is the theory.

I think pensions in the private sector continue to wane. Some are still out there, but more and more companies are saying “collect your own acorns for future consumption.”

 

[Nole Daddy]

To my knowledge, pensions are alive and well in the government sector. The theory — which is undermined by this story — is that quality people will work for less money if they have the promise of long-term retirement security. Again, that is the theory.

I think pensions in the private sector continue to wane. Some are still out there, but more and more companies are saying “collect your own acorns for future consumption.”

I was not sure how it was now. I know pensions in the private sector are rare, but I was not sure about other areas.

 

[Formerly Rockymtnole]

It's crazy to let workers retire in their 50s on a full pension, with full health benefits as well.
The "disability" pensions are out of control too.

 

[DFSNOLE]

How do those pensions work in the state of Florida? Are pensions being fazed out, or is it something someone should expect if they started a career now?

As of now, a traditional pension is still an option for new employees. They are really pushing the 401k route though.
Regular employees get 1.6% for each year employed. High risk employees get 2.5%. High risk is defined as first responders, DOC employees, etc. One has to be employed for 6 years to be vested. Regular employees can't start collecting without penalty until 65 years old. High risk can collect in full when they retire regardless of age.

 

[Nole Daddy]

It's crazy to let workers retire in their 50s on a full pension, with full health benefits as well.
The "disability" pensions are out of control too.

I agree. Not a bad life though for those that go that route. My old college roommate is a fireman and is looking to retire in his 50’s with a nice pension for the rest of his days.

 

[SeaPA]

How do those pentions work in the state of Florida? Are pensions being fazed out, or is it something someone should expect if they started a career now?

Current new hires have a choice between a pension option and an investment plan option. A new hire has 8 months from start date to choose; if the employee doesn't make a selection, a "regular class" employee is defaulted into the investment plan, a "special risk class" - cops, firemen, prison guards,etc) are defaulted into the pension plan. I believe that employees also have a one time option to switch from one to the other at some point in their work career.

IMO, the plan is tremendously favorable to the employees in the special risk class. They can begin drawing at a very young age, at a very high rate. As someone else mentioned, they've all figured out how to push the benefits up by working overtime & timing various things to maximize the income on which their lifetime benefits are based. But they're in favor politically - nobody wants to run on a platform of being anti-law enforcement.

 

[JohnnieHolmesNole]

I agree. Not a bad life though for those that go that route. My old college roommate is a fireman and is looking to retire in his 50’s with a nice pension for the rest of his days.

It is good for the fireman, for sure. The cost to whomever is funding it, however, is astronomical. It is possible that these guys can actually retire in their late 40s, with 25 years in the system. They could live 40-50 more years, drawing that check all along the way.

 

[Nole Daddy]

It is good for the fireman, for sure. The cost to whomever is funding it, however, is astronomical. It is possible that these guys can actually retire in their late 40s, with 25 years in the system. They could live 40-50 more years, drawing that check all along the way.

I agree with you 100%. It puts too much on us funding it.

 

[JohnnieHolmesNole]

I agree with you 100%. It puts too much on us funding it.

When the concept of a pension was developed, I don’t think it was envisioned that the pay-out period would be longer than the employment period. But that is now absolutely possible, especially with people generally living longer and longer.

 

[Nole Daddy]

When the concept of a pension was developed, I don’t think it was envisioned that the pay-out period would be longer than the employment period. But that is now absolutely possible, especially with people generally living longer and longer.

Just like Social Security. People used to retire and die pretty soon after.

 

[SeaPA]

Here are the rules, from the Florida Retirement System website. Note, some cities & counties don't participate, opting to run their own retirement plan (and some have regular employees in the FRS, with a plan of their own for police & firemen); I don't know what Broward does.
=======================

FRS Pension Plan FRS Investment Plan
If you enrolled in the FRS prior to July 1, 20111, normal retirement is age 62 with at least 6 years of service or 30 years of service, regardless of age. For Special Risk members, normal retirement is age 55 with at least 6 years of Special Risk service, or 25 years of Special Risk service, regardless of age, or age 52 with 25 years of Special Risk service and military service.

If you enrolled in the FRS on or after July 1, 2011, normal retirement is age 65 with at least 8 years of service or 33 years of service, regardless of age. For Special Risk Class members, normal retirement is age 60 with at least 8 years of Special Risk service, or 30 years of Special Risk service, regardless of age, or age 57 with 30 years of Special Risk service and military service.

You will receive the full value of your retirement benefit once you've reached normal retirement eligibility.

If you elect to begin receiving your vested benefit prior to reaching normal retirement, it will be subject to early retirement reductions.

 

[ggmike1992]

It's crazy to let workers retire in their 50s on a full pension, with full health benefits as well.
The "disability" pensions are out of control too.

I am retiring at 51 with 26 1/2 years service in corrections. Our mandatory retirement age is 57. Law Enforcement jobs are normally considered high-risk and the trade-off for that line of work is the opportunity for early retirement. I do not get a full pension. Mine will be about 34% of my high 3 salary and I never even approached a 6-figure salary. It's easy so see how people can earn that money considering it is a 24-7-365 business that requires people all the time. I've worked with many people that soak up copious amounts overtime.

 

[JohnnieHolmesNole]

I am retiring at 51 with 26 1/2 years service in corrections. Our mandatory retirement age is 57. Law Enforcement jobs are normally considered high-risk and the trade-off for that line of work is the opportunity for early retirement. I do not get a full pension. Mine will be about 34% of my high 3 salary and I never even approached a 6-figure salary. It's easy so see how people can earn that money considering it is a 24-7-365 business that requires people all the time. I've worked with many people that soak up copious amounts overtime.

Congratulations. When can you start to draw, if I may ask?

 

[KitingHigh]

And yet people still buy into the BS narrative that cops aren't overpaid.

 

[ggmike1992]

Right away. The bulk of my retirement money will come from my retirement account. I started putting money in that as soon as I was eligible and hope to draw enough from it to balance out the loss of income.

 

[seminole97]

Just like Social Security. People used to retire and die pretty soon after.

While that part is true, at least a pension is theoretically investing in wealth generating assets to help fund the future obligation. Social Security just invests in federal debt.
The former is a genuine boon to the economy in the form of increased savings, the latter, not so much...
Problem with pensions is the contributors (private and public) cheat their contributions with a combination of rosy expectations and insufficient allocation. It’s also the type of problem that is easy to kick down the road up until you go over the cliff.

 

[JohnnieHolmesNole]

Right away. The bulk of my retirement money will come from my retirement account. I started putting money in that as soon as I was eligible and hope to draw enough from it to balance out the loss of income.

Again, congratulations.

 

[fsu1jreed]

Because he worked 33+ years he gets 100% of his average salary which was ~$100k

 

[NDallasRuss]

I am retiring at 51 with 26 1/2 years service in corrections. Our mandatory retirement age is 57. Law Enforcement jobs are normally considered high-risk and the trade-off for that line of work is the opportunity for early retirement. I do not get a full pension. Mine will be about 34% of my high 3 salary and I never even approached a 6-figure salary. It's easy so see how people can earn that money considering it is a 24-7-365 business that requires people all the time. I've worked with many people that soak up copious amounts overtime.

Does the overtime get calculated into the pension formula, or just the salary?

I know that overtime abuse* is a HUGE issue in a lot of public service departments like fire, police, and corrections. In one county I do work for, if you look at the ranking of employees by salary - including overtime - you have multiple fire department personnel in the top 10. Their salary may be $80k, but they make another $90k in OT and now they're earning more than some of the county executives. If the pension includes OT, then a pension based on $170k is way better than one based only on the $80k base.

*Since firemen work 24 on, 48 off, one fireman will call in sick so another fireman can get 24 hours of overtime. The next month, the 2nd fireman will call in sick so the first guy can get the 24 hours of overtime. It seems like this is a very common occurrence.

 

[JohnnieHolmesNole]

Does the overtime get calculated into the pension formula, or just the salary?

I know that overtime abuse* is a HUGE issue in a lot of public service departments like fire, police, and corrections. In one county I do work for, if you look at the ranking of employees by salary - including overtime - you have multiple fire department personnel in the top 10. Their salary may be $80k, but they make another $90k in OT and now they're earning more than some of the county executives. If the pension includes OT, then a pension based on $170k is way better than one based only on the $80k base.

*Since firemen work 24 on, 48 off, one fireman will call in sick so another fireman can get 24 hours of overtime. The next month, the 2nd fireman will call in sick so the first guy can get the 24 hours of overtime. It seems like this is a very common occurrence.

I was with another professional person the other night and we were laughing that we screwed up.......we definitely should have been firemen, ideally in some remote place where there are very few fires. Lots of those guys are fishing guides and whatnot during the "48 off" windows.

 

[ATLNole1]

Will be interesting to see what happens to these government pensions 20 years from now. There is no way the current payouts can continue so either taxes will be raised or payouts reduced or some combo of the two. Either way a large amount of people will be pissed.
The funding problem becomes even worse if the market tanks again.

 

[FSUTD1]

Does the overtime get calculated into the pension formula, or just the salary?

I know that overtime abuse* is a HUGE issue in a lot of public service departments like fire, police, and corrections. In one county I do work for, if you look at the ranking of employees by salary - including overtime - you have multiple fire department personnel in the top 10. Their salary may be $80k, but they make another $90k in OT and now they're earning more than some of the county executives. If the pension includes OT, then a pension based on $170k is way better than one based only on the $80k base.

*Since firemen work 24 on, 48 off, one fireman will call in sick so another fireman can get 24 hours of overtime. The next month, the 2nd fireman will call in sick so the first guy can get the 24 hours of overtime. It seems like this is a very common occurrence.

This is unbelievable yet not shocking. I seriously made a mistake 10 years ago but not becoming a firefighter.

 

[DFSNOLE]

It is good for the fireman, for sure. The cost to whomever is funding it, however, is astronomical. It is possible that these guys can actually retire in their late 40s, with 25 years in the system. They could live 40-50 more years, drawing that check all along the way.

The FRS is one of the most, if not the most, solvent pension systems in the country. Currently it is 84% funded, meaning if everyone retired now, they would get 84% of their benefits. There are currently assets of $161bil in the pension plan and $10bil in the investment plan. The demise of the system was a ploy used by some to push a specific agenda.

https://www.myfrs.com/PlanInformation.htm

 

[LauderdaleNole]

This is unbelievable yet not shocking. I seriously made a mistake 10 years ago but not becoming a firefighter.

My brother in law is a firefighter in Leesburg. He tells me these jobs are very hard to get. As you might imagine they are highly sought after. They don't even really have many fire calls anymore, mostly traffic accidents.

 

[Fijimn]

It's not uncommon in some states of public sector to collect two pensions. I know more than a handful of California life guards that put their requisite time in, "retired" at age 45 and became EMTs. HPD and HFD (Houston) has a name for guys that are pulling their last 3 years before retirement. You go to your captain and you tell him/her that you are retiring and you need to pull the "whatever the name is called." Thereafter, you are basically assigned to all the overtime assignments and your work all the time.

Our paper used to publish the top earning cops and fire department. It was street cops making 170K - 190K. On top of that, they can work private security jobs at dance halls and quincenera halls. They had street cops making $240K. Of course, those news report stopped.