We still have a pension fund!! Good for you on putting 10% away, that is VERY SMART!!

 

We are in TMRS, which is Texas Municipal Retirement System and we contribute 7% each paycheck and the city matches 2/1. We alos have an ICMA which is optional and I am up to 11% of each paycheck right now. With each payraise I have tried to increase my ICMA by 1/2 of my raise. On my side job we just got a 401b or k can't remember but it is 3% and they macth3%. I started when I was 24 and will be eligible to retire when 44 but will depend on money/wife/fishing/hunting/golf/beer and not inthat particular order. Be Safe. BB

 

We have a really good retirement system set up here. By the time I retire (28 and out) I will be able to retire with 90% of my salary. I am also set up in deferred compensation and Roth IRAs so that will also help out retirement and my daughters college fund. If all goes well I should be able to retire when I am 51-52 years old.

BB: Lonesome Dove?


Britt

 

yes, my favorite movie of all time. In college we used to get a bottle of whiskey and take a drink every time Gus did. Let me tell you that makes for a long movie. stay safe. BB

 

Britt, are you guys on LOPFI. They recently moved the maximum age to 35, I don't think it will be too long until they increase the multiplier so we can draw full pension at 25 years.

 

Yes we're on LOPFI. The way they have been talking lately around here is trying to increase the multiplier and get it up to 95% of our salary. Only problem is extending it out to 30 years instead of 28 or 25 like you alluded to. That's okay by me though. I'll still retire at 53 and draw (hopefully) 95% of my salary. It wouldn't pay to go to work any more. You would only be going for 5% pay. Count me out on that!

Britt

 

I started a little late in life (hired on at 29) so i'm going to go out at 55. So if they increase the multiplier that's good for me. I'd retire one month before my 58th birthday if I stayed in 28 years. That may be a little old.

 

I started in '86 at 24. I can retire without penalty at 53, but 30 years sounds better then 29, so I'm in until 54!

 

Ok boys, just got off a 48, had our A$$'s handed to us, very busy, then went to my part time this morning and wound up towing several trucks and working a truck roll over. Now the wife and I are off to a buddy's house with a bunch of friends for a bon fire and a WHOLE bunch of BEERS, ( OH YEAH! ), First one is for the truckies, and the second and the third, as a matter of fact I think the pumpies will be handing me my beers all night.

Be safe, Tim

 

well we have our new pay scale for 2008...all it need to be is approved and its good to go! if anyone wants the link let me know and ill add it on here! i hope nobody gets mad if they see some of the numbers

brett

 

I'd like to see it Brett. How big is your department? City?

 

http://www.woodlandsfire.com/

on the right side of the page, click the "here" and it will show!

99 floor personal. we are technically a private corporation, but we are on our way to becoming a city!

brett

 

You were right, I didn't need to see that! Those are some pretty nice figures, I suppose the cost of living is a little higher there than it is here, but it still looks good.

 

not really to bad...they just pay us very well

collective barganing is a nice thing too

brett

 

Have fun Tim, sounds like you deserve it!

Britt