Why do so many PD members retire at the end of a month? Many are told that retiring at the end of a month the retiree will only wait one month until he/she receives their first pension check. Yes, that is true. Should everyone retire at the end of a month? No. Just because the NYCPPF Retirement “Counselor” or a co-worker suggests you retire at the end doesn’t mean you should. Some pre-retirees should determine what their best day to retire is based on overtime and it may not be the end of the month. If a PD pre-retiree cannot “survive” more than a month without receiving a pension check, the pre-retiree should maybe reconsider retiring. Every pre-retiree should answer the basic retirement planning question of; can I afford to retire?
FDNY pre-retirees spend a significant amount of time determining what the best day to retire is to maximize their pension benefit. In general, PD pre-retirees do not do this and simply retire at the end of a month. It is the responsibility of the pre-retiree to determine their optimal retirement date; FD/PD Pension personnel will not do this for you.