Retirement: Keeping Firefighters Connected

The economy has effected different departments in different ways.  Some departments have experienced layoffs.
Ours is fortunate that this has not happened.  Yet, they did offer a pretty sweet early retirement deal and several people have decided to take advantage of that.  This made me start thinking about what being a retired firefighters means.  I found this great article at http://bit.ly/bZa11R called The Truth About Firefighter Retirement Benefits.
Here are a few bits from the article that I found particularly interesting.
  • Firefighters and other public employees do NOT receive Social Security.
  • Firefighters have shorter life expectancies than the average population
  • In a public defined benefit retirement system, when a firefighter dies, their retirement contributions go back into the"system" to pay for other living retiree's benefits, unlike a private sector 401K where the retiree's family keeps 100% of their retirement contributions upon their death.

TO READ FULL ARTICLE CLICK HERE

 

 

Shari

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