Pensions

[kxl77]

Just wondering, can someone explain to me how pensions work? I know you contribute X amoutn per pay check based on a percetange for your age bracket. But I'm just confused as to how the whole savings account thing works.

Also what other benefits are there? Along with the ITHP waiver and 50% pension contribution?

[gbotj]

Defined benefit, health coverage after retirement, deferred comps, alot more. Anyone care to elaborate?

Check out the NYC police pension fund website