Police/Fire Pension + 457(b)
Police/fire pension: 50-75% at 25-30 yrs, retire at 50-55. + 457(b) deferred comp $23.5K/yr. Public safety pension exception for SS.
| Final salary | — |
| Years service | — |
| Pension multiplier | — |
| 457(b) balance | — |
| Annual pension | — |
| Monthly pension | — |
| 457(b) safe withdrawal | — |
| Total monthly income | — |
| Replacement rate | — |
Police, firefighter, and other public safety pensions are typically among the most generous: 2.5-3% per year × final average salary × years of service. 25-30 years = 60-90% replacement. Plus 457(b) deferred comp ($23,500/year contribution limit) for additional supplement.
Public Safety Pension Generosity
NYS Police: 50% at 20 yrs + 1.66%/yr after. California PERS Safety: 3% × yrs × salary, cap 90% at 30 yrs. Federal Civil Service: 1.7% × yrs (firefighters/officers) + Social Security. Each state vastly different — know your formula.
457(b) Deferred Compensation
\Governmental 457(b): $23,500/year max (2025), $7,500 catch-up at 50+. Special catch-up at 50 = up to $46K total. Roth 457(b) often available. Unique benefit: no 10% early withdrawal penalty after separation from service (any age). Major advantage over 401(k)/403(b).
Early Retirement Eligible
Most police/fire retire age 50-55 after 25-30 years. Pension begins immediately (no 59.5 wait). Plus 457(b) withdrawals penalty-free. Plus Social Security (reduced by WEP/GPO if in non-SS state). Result: substantial early-retirement income — but plan around health insurance until Medicare at 65.
Last updated May 2026. Sources: NASRA Public Safety.