Obviously something between nothing and everything. Right now, too many people consider their work priceless and demand that those who pay their salaries impoverish themselves to do it.
In the cities that have been forced into bankruptcy the road workers get so much money in wages and benefits that there is no money left over to buy asphalt so the road workers can fill potholes. They are overpaid.
A good friend of mine is a retired police officer. With his pension and benefits he gets $7,000 a month. God love him, he too is way overpaid.
Maybe. What rank did he retire at?
Part of the reason cops and firemen have pensions is that they will NEVER make enough in salary (at most American PD's) to invest money like those in the private sector. Up until last year, NYPD's starting pay was 26,000 a year.
How can you attract someone to do a dangerous job, for low pay, low respect, low morale, etc?? The pension was always part of that. Many cops cant afford a 401(k). And, unlike the military, most look at that as a career, not something they'll do 4 years in and move on.
Now, the obvious respone is "We cant afford it!!!!". Maybe, maybe not. Depends on how we prioritize.
But if we dont, are we willing to accept far less qualified cops in the future, and thus, far worse service and more corruption?
Oh please, check your sources NYPD gets close to $45,000 a year just while in the academy! After 5 years they are over $70,000 and that's just BASE pay.
Benefits & Salary Overview | NYPDRECRUIT.COM