|Extension of the Mandatory Retirement Age for Police and Firefighters|
The Mandate: In 2008, a law was enacted that increased the mandatory retirement age from 62 to 65 for police and firefighters who have elected a 20-year retirement plan. An overwhelming number of such individuals have elected a 20 - year retirement plan. Federal law enforcement personnel are subject to a mandatory retirement after 20 years of service or age 57, whichever occurs first.
The Cost: The financial impact on municipalities is that, for an individual who delays his or her retirement, the municipality will be contributing a greater amount to the Retirement System because of the higher pay of such an individual as compared to a newly hired person. In addition, the senior individual will likely be at the top step of a longevity schedule. A newly hired person would not receive a longevity payment for several years.
The Solution: The law should be repealed.