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Explain the value of a pension to your children. The average 401(k) balance for people 55-64 is $271k.
https://www.nerdwallet.com/retirement/learn/the-average-401k-balance-by-age?utm_source=goog&utm_medium=cpc&utm_campaign=in_mktg_paid_2025_investing_dysads&utm_term=&utm_content=ta&gad_source=1&gad_campaignid=22295461670&gbraid=0AAAAADfKLw2-G0NQdjX-12HFcIyThlSwr&gclid=EAIaIQobChMIgvDtltvMkQMVMDYIBR2MhyujEAAYASAAEgKNAvD_BwE Here’s an explanation of what your 401(k) balance would need to be to approximate the value of a pension. “Next, we look at a firefighter captain who is retiring at age 55. His pension is $85,000. He is unmarried and so we will use the single male chart in the middle of the top row. From the chart, we find his multiplier is 27.7. Calculating the value of his pension means $85,000 times 27.7 for a total of $2,354,500 !! This gentleman would have needed to have a high paying job to have accumulated $2.3 million by the age of 55! Instead, he risked his life and survived with a guaranteed income stream.” https://andrewmarshallfinancial.com/what-is-a-pension-worth/ |
| If you’re a young engineer or lawyer with a few years of experience and your organization raises their starting salary do you automatically get an in kind salary adjustment like law enforcement does? |
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The holidays are an excellent time to sit with your upcoming May graduate to talk about job prospects post-graduation. The job market continues to constrict. If they don’t already have a job offer in hand they could be in trouble.
If they want to change course and go the law enforcement route they need to start the process now, especially if they’re going to apply to multiple departments. The process is intense and takes a lot of time. Entering the process now would set them up for a summer police academy. Some departments begin paying your salary weeks before the academy, but every department pays you during the academy. Pros: A pension Retirement after 25 years Signing bonuses of $15k - $70k Starting salaries from $70k - $90k Overtime pay (not taxed through 2028) Excellent health benefits (medical, dental, vision) Public Service Loan Forgiveness (PSLF) Continuing education leave Tuition reimbursement Deferred compensation plan with match Flexible spending account Police now qualify for social security as of 2025 Cons: It’s a tough job, but rewarding Potential for long hours, but compensated Depending on your area it can be dangerous at times More admin work than Hollywood portrays Your days/nights aren’t action packed |
Our relative in the DMV is getting a 14% salary increase because of the Arlington move, plus a scheduled additional COLA increase. |
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Alexandria PD officers are getting a 17% raise. When was the last time you got a 17% raise without a promotion, or any additional responsibilities?
“Under the new agreement, in FY 2027, new APD officers will get a 17% raise, sergeants will get a 21% raise and lieutenants will get a 15% raise, with 2% increases in FY 2028 and FY 2029. This second three-year agreement increases salaries by $10.2 million over the next three years for uniformed staff across all pay scales.” https://www.alxnow.com/2026/01/15/city-council-backs-union-agreements-with-police-fire-and-administrative-employees/ |
Why are 90% of the jobs posted from IL? What’s going on over there? |
The organization is based out of Illinois. That website isn’t very helpful. Basically every medium to large department in the country is hiring. |
| Our young LEO relative talked with an accountant and was told he’d receive $4,800 back from no tax on overtime. |
How does Wall Street and PE depress town, city, county and state payrolls? How does someone automate 24/7/365 patrol duties? |
Considering all they do is tell people “ma’am that noise was fireworks” all day that’s great! |
Similar to private prisons - the state/counties/towns will just pay a 3rd party contractor (owned by PE) to run the police force. |
That’s not how local, county and state governments work. There is no chance this happens to law enforcement. |
Arlington goes to a $90,000 starting salary July 1st. |
Just for you Ms. Fireworks. https://www.wmar2news.com/news/region/cecil-county/maryland-state-trooper-jumps-from-traffic-stop-to-saving-a-choking-baby?fbclid=IwdGRleAQBoOZleHRuA2FlbQIxMQBzcnRjBmFwcF9pZA8xNzM4NDc2NDI2NzAzNzAAAR6ENoWlpM31MuSdLSFpcMcfHeUwvhygOYvjsAZFK0SfoHl8wqbBPbEo27UetA_aem_TJBxYTm6Lp97LBudCUD10w |
There is no world in which a take home police cruiser is a burden. My friend is a State Trooper. He bought a Range Rover Sport last year and he’s only put about 4,000 miles on it. That he doesn’t have to drive it to the station and back all the time will extend the life of the Range Rover years. It will keep the trade in value higher as well. |