Trenton Police Pension Plan Similar to Other Downriver Communities'
Four Downriver communities near Trenton have a defined benefit, or pension plan, for police officers. Three other nearby communities have selected other options. It might surprise you who has pension plans for their officers and who doesn't.
The majority of Downriver communities surrounding Trenton have a defined benefit or pension plan for police officers.
Like Trenton, four nearby communities have chosen defined benefit plans over other plans. Communities currently offering pension plans are:
- Gibraltar
- Riverview
- Southgate
- Woodhaven
Trenton has the lowest benefit multiplier of all neighboring communities by offering defined benefits at 2 percent, which means officers multiply two percent of their average annual pay by the number of years worked and the result is their annual retirement benefit.
Riverview and Woodhaven have a 2.5 percent multiplier, Southgate's multiplier is slightly higher at 2.69 percent and Gibraltar is the highest at 2.7 percent.
Communities' retirement costs are often lessened with a lower multiplier.
Brownstown and Grosse Ile do not use a defined benefit or defined contribution plan. Wyandotte is the only remaining community researched that still uses a defined contribution plan.
