The 20-and-out rule that lets NYPD officers retire in their 40s should be retired as well, at least one ex-cop said.
Currently, New York's Finest are allowed to retire after 20 years on the force. But among the proposals in Mayor Bloomberg's budget is a requirement that officers work 25 years, Monday's New York Post reported. Also, no one would be able to retire before age 50.
"I don't consider it unreasonable," 2007 retiree Michael Bailey told the Post. "People are dying for jobs right now."
Bailey retired at age 43, just days after completing his 20th year on the job. Now he supplements his annual pension of about $60,000 with a six-figure salary working in corporate security, the Post reported.
Bailey told the newspaper that he'd be surprised if the city didn't raise the retirement requirements.
"If you go to most major metropolitan cities now, they've all already moved to it," he said. "I guarantee the city gets it in three or four years."
If and when the city does change the requirements, they would only affect future hires.
