33 employees reported this benefit
It is comparable to what other nearby states offer.
Offers a great pension plan.
You only make a third of your best three years but have to invest a full 25 years and can’t collect until you reach the age of 65 or you get penalized until you reach your age the problem here is that you need to be someone real high up to make good money an average worker would to maybe 70 to 80 thousand a year but have to live here practically with all the overtime so a third of that 70k minus the taxes and insurance you’ll se roughly $1400 to $1600 a month at 65 years of age
The prnsiyplan provides for a substantial income after retirement as well as a continuation of the health benefits for the retiree and his or her spouse.
Worst thing is some tiers do not contribute. Makes it more expensive for other tiers.
Not very realistic that it would be available for those still a wAys out from retiring given the poor economic state of affairs CT is facing.
The rate they kick in is better if you work in hazardous duty.
Pensions vary and are based upon your salary as well as your Union contract (for Union employees). Hazardous Duty employees can collect their pensions immediately after 20 years (25 for new hires) regardless of age.