stmLooking for information on Georgia Firefighters Pension Fund? You’re at the right page. This article features a quick review on all you need to know about Georgia Firefighters Pension Fund. Read on!
Georgia Firefighters’ Pension Fund was created for the aim of providing a pension benefit to its employees and their beneficiaries through discrete stewardship of the assets held in trust.
The main goal of the Georgia Firefighters’ Pension Fund is to sustain a tradition of outstanding service, trusted responsibility, and accountability through a committed and compassionate workforce that make use of progressive technology and promotes professionalism.
Georgia Firefighters Pension Fund Core Values
The Georgia Firefighters Pension Fund are known for the following values:
1) Integrity: The fund will always put its members as a top priority. Hence, acting with honesty and integrity, not compromising the truth.
2) Accountability: The Fund is Accountable to the firefighters of the State of Georgia and the families of the employees for excellent performance and commitment in administrating the pension fund after retirement.
3) Professionalism: The employees at the Fund will always conduct themselves in a professional way, demonstrated by their mode of approach, actions and compassion.
4) Service: The Fund will always make sure they provide excellent customer service to it’s members in a courteous manner.
5) Stewardship: The Fund manages the affair of the Pension Fund of employees, and as such they will always try to improve and increase its value for current employees and for the forthcoming generation.
What Is The Retirement Plan For Firefighters?
As a firefighter you will receive 50% of your Final Average Salary at the 20th year of your service. Additionally, you’ll 3% for each year of service; except in the 30th year you receive 4%. The highest payable amount is 90% of your last salary at 33 years of vested service or more.
How Much Do Georgia Firefighters Make In Retirement?
As a firefighter, you’ll earn 75% of all your income at retirement. However, current retirees earn less than $30,000 a year. Firefighters who retired currently will likely earn more than this.
The reason is because they earned more while working and as such, they paid more into the system, most of them also negotiated for more retirement security rather than cash up front.
How Many Firefighters Are In Georgia?
The state of Georgia has over twelve thousand trained firefighters, the state brags of them being one of the first responders in the country which does not only prevent fires but also snatch victims.
At What Age Do Most Firefighters Retire?
The mandatory retirement age for Firefighters with 20 years of vested service is 57 years old or any time after 57 years, upon reaching 20 years of vested service.
Why Do Firefighters Retire Early?
The fire service needs a great level of physical effort and skills which takes a toll on a worker’s physical abilities over the years. As a result, many employers require their employees to retire at 50 years. However, they are left with a reliable health benefits at retirement.
Conclusion
The Georgia Firefighters Pension Fund provides retirement fund for its members to enable them embrace old age. You can logon to the Georgia Firefighters Pension Fund for more info at https://gfpf.org/home. If the website does not satisfy your questions, you can contact them on 678-413-4227
Was this information useful to you? Read similar posts recommended for you below.
Recommended Reading
- NYC Police Pension Fund: Everything You Should Know
- Arizona State Retirement System
- What Jobs Can You Get With A Business Management Degree? Find Out Here
- Alabama Retirement System
- 971 IRS Code Notice On Transcript: What It Truly Means
- IRS Code 766 And 768 On Tax Transcript: Everything You Need To Know
stm