Public pensions got their start with various promises, informal and legislated, made to veterans of the Revolutionary War and, more extensively, the Civil War. padding-bottom: 0px !important; Employers make additional contributions necessary to fund the plan on an actuarial basis. Average of 3 or 5 highest years, as determined by employing government. Less than 20 years of service, 2% of FAS for each year of service; Average salary upon which pension contributions were based for any three fiscal years that provide the highest average. FAS is capped at the governor’s salary ($179,000 in 2012). Includes workforce and gig economy policy issues – including but not limited to telework, automation, unions, UBI, and other innovations. Minnesota is an outlier – it is the only state that protects pensions under the promissory estoppel theory: the protection of a promise even where no contract has been explicitly stated. #color_box_white Some states (seven) have a constitutional provision that specifically states that public pension plans create a contract between the state and participant (employee) although the protections vary state-to-state. 62.5% of member’s FAS plus 2.5% of FAS for each year of credited service over 25, including fractional years; Average of 60 highest consecutive months in the last 10 years, Arizona Public Safety Personnel Retirement System as of, Certified state and local police officers and firefighters, 62.5% of the average monthly benefit compensation for the first 25 years of credited service plus 2.5% of the average monthly benefit compensation for each year over 25 years of credited service to a maximum of 80% of FAS, Average of 60 highest consecutive months in the last 20 years of credited service, Arkansas Local Police and Fire Retirement System, Employees of political subdivisions of the state. These employer contributions to these plans typically vest after some period of time, e.g. 20 years of service in plan or other specified police or military service (depending on local government’s choice of plan). 2.8% times FAS times years of service for up to 25 years of service; Benefit is capped at 70% of FAS. 2% or 2.5% times FAS times years of creditable service. Pennsylvania State Employees’ Retirement System: Enforcement officers, corrections officers, psychiatric security aides, Delaware River Port Authority and Capitol police and park rangers. font-style: italic; 7700 East First Place
No member contribution to DB component. Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Benefits are capped, variously, at 80% or 90% of final salary. Tel: 202-624-5400 | Fax: 202-737-1069, Research, Editorial, Legal and Committee Staff, E-Learning | Staff Professional Development, Communications, Financial Services and Interstate Commerce, State Retirement Plans for Public Safety Workers - Tables, Copyright 2020 by National Conference of State Legislatures, Summary Introduction on State Retirement Plans for Public Safety Workers, Tables on Public Safety Worker Retirement Plans, State Retirement Plans for Public Safety Workers, Wisconsin Retirement System: Information Paper 84, California Public Employees’ Retirement System, Colorado Fire and Police Pension Association, Louisiana Sheriffs’ Pension & Relief Fund, Legislative Bill 382 of the 2011 Legislative Session, New York State & Local: Police and Firefighters, Ohio Public Employee Retirement System, Law Enforcement and Public Safety Officers, Oklahoma Firefighters Pension and Retirement System, Oklahoma Law Enforcement Retirement System, Oklahoma Police Pension and Retirement System, Oklahoma Public Employees Retirement System Hazardous Duty Employees, Pennsylvania State Employees’ Retirement System, Rhode Island Retirement Security Act of 2011, Municipal Police and Fire Provisions, Tennessee Retirement System Benefits for Law Enforcement Officers, Texas Employee Retirement System, Law Enforcement Supplemental Plan, Utah Retirement Systems Tier 2 Plans for Public Safety Members, Vermont Municipal Employees Retirement System, Virginia Retirement System Enhanced Benefits for Subdivision Hazardous Duty Employees, Virginia Retirement System Law Enforcement Officers, Washington State Public Safety Employees; Retirement System, Washington State Retirement System required contributions effective July 1, 2011, West Virginia Municipal Police Officers’ and Firefighters’ Retirement System, Wyoming Retirement System Various Plans’ Handbooks, State and local police and firefighter members, Average of 5 highest years of the last 10, Alaska Public Employees' Retirement System: Defined Benefit Plan, Peace officers and firefighters statewide who entered service before July 1, 2006, 20 years of contributory service in the plan, Age 55 for employees entering the plan on or after July 1, 1986, 2% times first 10 years times FAS; plus 2.5% times all years after 10 times FAS, Alaska Public Employees' Retirement System: Defined Contribution Plan, Peace officers and firefighters statewide who entered service on or after July 1, 2006.