September 23, 2008
Raising police retirement age to 65
Two bills sitting on Governor David Paterson's desk would allow police officers and firefighters to reap huge pensions.
The Conference of Mayors urges the governor to veto them. One bill would raise the retirement age of municipal cops and firefighters from 62 to 65. The other would raise the retirement age only for cops.
Most police officers retire after 20 years on the job with pensions equal to half their final average salaries (including overtime). Once retired, many seek other jobs in law enforcement. For example, if a New York City cop retires at 44 and takes a job with a suburban police department, his dreams of collecting another 20-year pension will collide with the mandatory retirement age of 62.
In 2007, Governor Eliot Spitzer vetoed the bill for police and firefighters, which he said would extend the time they could "remain on 'light duty' due to injuries and illness incurred in the performance of their duties".
For further background, see PPW item, "Waiting till 65 to give up the badge".
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