Mike

Federal firefighters have enjoyed less success than municipal firefighters when it comes to pay and retirement. I *think* some of them are still working a 77 hour work week.

The statistics are coming from the articles I linked to.

As some of my Virginia buddies reminded me, those working under a state-run retirement program have equally ungenerous benefits.

The old PG retirement program was short and very generous, when the firefighters were making $17,000 a month. One of the issues was that the pay rate went up and the calculated percentages of a defined benefit program were not adjusted.

So when the firefighter that started at $17K in 1969 is making $77K as a Captain in 1989, he gets a pretty nice monthly check.

Thanks for posting.

Mike

Mike

Federal firefighters have enjoyed less success than municipal firefighters when it comes to pay and retirement. I *think* some of them are still working a 77 hour work week.

The statistics are coming from the articles I linked to.

As some of my Virginia buddies reminded me, those working under a state-run retirement program have equally ungenerous benefits.

The old PG retirement program was short and very generous, when the firefighters were making $17,000 a month. One of the issues was that the pay rate went up and the calculated percentages of a defined benefit program were not adjusted.

So when the firefighter that started at $17K in 1969 is making $77K as a Captain in 1989, he gets a pretty nice monthly check.

Thanks for posting.

Mike

Mike

Federal firefighters have enjoyed less success than municipal firefighters when it comes to pay and retirement. I *think* some of them are still working a 77 hour work week.

The statistics are coming from the articles I linked to.

As some of my Virginia buddies reminded me, those working under a state-run retirement program have equally ungenerous benefits.

The old PG retirement program was short and very generous, when the firefighters were making $17,000 a month. One of the issues was that the pay rate went up and the calculated percentages of a defined benefit program were not adjusted.

So when the firefighter that started at $17K in 1969 is making $77K as a Captain in 1989, he gets a pretty nice monthly check.

Thanks for posting.

Mike

Mike

Federal firefighters have enjoyed less success than municipal firefighters when it comes to pay and retirement. I *think* some of them are still working a 77 hour work week.

The statistics are coming from the articles I linked to.

As some of my Virginia buddies reminded me, those working under a state-run retirement program have equally ungenerous benefits.

The old PG retirement program was short and very generous, when the firefighters were making $17,000 a month. One of the issues was that the pay rate went up and the calculated percentages of a defined benefit program were not adjusted.

So when the firefighter that started at $17K in 1969 is making $77K as a Captain in 1989, he gets a pretty nice monthly check.

Thanks for posting.

Mike

As with some other posts like DaGonz in the other blog, many have only half the truth but capture statistics that they want to hear and sell to the public.

In the good times, many municipalities lobbied to reduce their “employer” contributions (because the bull market was great) Now I contribute nearly 10% of my paycheck every week into the firefighter retirement system, (note not many private sector 401's are banking that each week from their pay) When the times were good… lobbist won the right to pay (0) zip, nothing from the employer side contribution because of the market's #s or returns were insane, yes our firefighter contribution (money) was still invested each and every week, and for those who don't know it is invested into the stock market. When the money was rolling in, we were chump change to the municipalities. Now that the market has changed for the worse we are a huge liability to them and all the taxpayers.

Watch this video I posted found on youtube about the New Jersey firefighter retirement system, and maybe you and others will see what the firefighters feel was not done in their best interest… but they had no say on how the employer handled their personal committment, negotiated committment, or law to the employees contractual retirement.

http://www.firefighternation.com/video/nj-retir…

TCSS
FETC

As with some other posts like DaGonz in the other blog, many have only half the truth but capture statistics that they want to hear and sell to the public.

In the good times, many municipalities lobbied to reduce their “employer” contributions (because the bull market was great) Now I contribute nearly 10% of my paycheck every week into the firefighter retirement system, (note not many private sector 401's are banking that each week from their pay) When the times were good… lobbist won the right to pay (0) zip, nothing from the employer side contribution because of the market's #s or returns were insane, yes our firefighter contribution (money) was still invested each and every week, and for those who don't know it is invested into the stock market. When the money was rolling in, we were chump change to the municipalities. Now that the market has changed for the worse we are a huge liability to them and all the taxpayers.

Watch this video I posted found on youtube about the New Jersey firefighter retirement system, and maybe you and others will see what the firefighters feel was not done in their best interest… but they had no say on how the employer handled their personal committment, negotiated committment, or law to the employees contractual retirement.

http://www.firefighternation.com/video/nj-retir…

TCSS
FETC