early out for members of DCFD and MPD with at least 20 years of service

[Hey Slim]

there's been talk by DCOP and the retirement board that there's going to be an early out before April 1. There will be a small window of 30 day's to get on the list, there will only be room for a certain number to sign up. I have'nt heard how many and the compensation has'nt been set as of yet.

[WONDER DAWG]

Yes it is true they are offering the out between jan 1 and april 30th. Compensation has not been put on the board as of yet. I have signed up for it. My Lt thinks it will be my min at 25 yrs which is 63% and 20,000 cash. The 20k is taxable so that will relate to about 13k in cash plus your 63%. I guess you guys will have to go to north kackalacky to find my RETIRED ASS!!!!!!

[captain4life]

WONDER DAWG:

Before jumping onto the early out, DO the math, the contract runs out in two years. take your salary you have then [ increase what you make now by 10%], the retirement you get at that time [27] years [ extra 5 to 6% depending on your which retirement system], compare it to what you will take home now. If there is a 4-5k diffence, better off staying, you make 13k in 3-4 years retired "if" you leave in two years from now. If you leave now, and if early out is offered, the 13k you get now will last how long?
Two years from now you will keep that 13k+ in your take home check.

Last time a "early out" was offered, a lot of people found out that the the fed's took 30%, and when that extra cash ran out, had to go back to work somewhere.

even with all the BS that going on, coming to work 7 to 8 times a month can't be all that bad.
:D