LMPD :: Louisville Metro Police Department
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234 Comments

The cost taxpayers bear to hold officers accountable

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RE: The cost taxpayers bear to hold officers accountable

June 24th, 2018 @ 11:37AM (6 years ago)

Dumping new people into Tier 3 cash balance retirement makes paying for Tier 1 and Tier 2 retirees impossible without the state taxing more and spending it on Tier 1 and 2. Cash balance is exactly that. They put money in, that money grows a little, and they get it back as an annuity or can cash out. It's all paid by them. You can't make someone pay for someone else's retirement if they're not getting the same deal. It's called equal protection under the law and is part of the Constitution.

It's either make taxpayers pay the tab for Tier 1 and Tier 2, or stop payments.

RE: The cost taxpayers bear to hold officers accountable

June 24th, 2018 @ 11:43AM (6 years ago)

...and Tier 3 retirement is one of the worst plans I've ever read about for someone making over $40,000. It's the kind of pension you give people making $10 per hour that you spend nothing on training for and can replace in a day. I can't imagine many people are going to stick around like Tier 3 people feel compelled to stick around. They'll keep some who get promoted to comfortable daywork jobs, lose most of the others, and always have a constant churn of low-paid rookies. How's that going to pay for a pension? It won't.