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From my understanding for every five years you spend in the rank of captain you get the assimilated retirement numbers of the next higher rank. Another little known fact is that as a captain, the city puts substantially more into your annuity fund approximately $30 per day.
From my understanding for every five years you spend in the rank of captain you get the assimilated retirement numbers of the next higher rank. Another little known fact is that as a captain, the city puts substantially more into your annuity fund approximately $30 per day.
That comes out to 10k per year. Don't think that's accurate. Up to $3300 per year.
Does anyone know the specifics and time in rank requirements? Thanks
Captain for 5 years gets a DI pension. Captain for 10 years full bird pension and 15 years Deputy Chief pension. The difference in pay between each rank is roughly 10k more annually.
From my understanding for every five years you spend in the rank of captain you get the assimilated retirement numbers of the next higher rank. Another little known fact is that as a captain, the city puts substantially more into your annuity fund approximately $30 per day.
That comes out to 10k per year. Don't think that's accurate. Up to $3300 per year.
Passing along the information that was given to me. I was told 30-35 bucks per work day which adds up to roughly 7,500 bucks a year. If anyone can confirm please do update us with the correct figures
-- Edited by Leslie on Wednesday 2nd of November 2022 06:12:45 PM
From my understanding for every five years you spend in the rank of captain you get the assimilated retirement numbers of the next higher rank. Another little known fact is that as a captain, the city puts substantially more into your annuity fund approximately $30 per day.
That comes out to 10k per year. Don't think that's accurate. Up to $3300 per year.
Passing along the information that was given to me. I was told 30-35 bucks per work day which adds up to roughly 7,500 bucks a year. If anyone can confirm please do update us with the correct figures
-- Edited by Leslie on Wednesday 2nd of November 2022 06:12:45 PM
Got it, the correct figure is approximately $3300 per year. Captains don't get that amount til 5 years in rank.
Wereinbacklog - I know youre a straight shooter with accurate information but I was told from a retired Cpt he got 5500 added to his pension for having 5 years in rank as a cpt
Wereinbacklog - I know youre a straight shooter with accurate information but I was told from a retired Cpt he got 5500 added to his pension for having 5 years in rank as a cpt
That is on point. Remember depending on time in rank and time on the job you're still only getting a percentage of that 10k between salary difference. Wereinbacklog is still correct with the 10k approximation.
Wereinbacklog - I know youre a straight shooter with accurate information but I was told from a retired Cpt he got 5500 added to his pension for having 5 years in rank as a cpt
Two different things. To pension yes to annuity no.
Wereinbacklog - I know youre a straight shooter with accurate information but I was told from a retired Cpt he got 5500 added to his pension for having 5 years in rank as a cpt
That is on point. Remember depending on time in rank and time on the job you're still only getting a percentage of that 10k between salary difference. Wereinbacklog is still correct with the 10k approximation.
I think we're arguing different points. The 3300 I'm alluding to is to annuity not pension. If you do 5 years as a Captain and retire you'll get a DI pension. A DI makes roughly 10k more than a top pay captain. 50% of that 10k is 5k which is added to your pension.
