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bmore t1_ixzc5xz wrote

Reply to comment by frolicndetour in Pension for Baltimore City council members by 2468975

They get 2.5% of their highest salary x years served, and if elected after 2016 it's capped at 60% of their highest salary.

The pension for someone who ran for council, stayed on until they were term limited at 8 years, and retired would be about $15k annually. So anyone trying to use it as a get rich quick scheme as implied by folks in this thread would be...bad at getting rich quick? There are better ways to make money.

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frolicndetour t1_ixzctkv wrote

Ok...yea that's what I thought. That it would be vested and then calculated based on time in, not the full pension. Because one of the articles seemed to suggest that they could supplement their time in by getting a job in city government, which wouldn't be necessary if they got the full pension after 8 years.

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2468975 OP t1_ixzeu4i wrote

No one gets their full salary as their pension, but do they get this pension immediately after 8 years or after turning 65? That does make a difference for sustainability.

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