The former police officer from Minneapolis, Derek Chauvin, is still eligible to receive pension benefits worth $1 million even after he's convicted of killing George Floyd.
Retirement benefits and pension
Derek Chauvin has been the subject of worldwide fury after he was recorded kneeling on the neck of an unarmed black man, George Floyd, for almost 9 minutes even after Floyd told him he can't breathe and begged him to stop.
Chauvin was fired from his position in the police department and he was eventually charged with second-degree manslaughter and second-degree murder. The three other officers who were on the scene and stood by and watched were also arrested and charged.
However, according to the Minnesota Public Employees Retirement Association, Chauvin can still receive his pension even if he has been convicted of felony crimes related to his work. Although numerous states in the country forfeit it, it is not the case in Minnesota.
Chauvin would still be eligible to file for his pension and other benefits once he hits 50-years-old despite his charges. However, the association would not give further details on how much Chauvin would receive, and his attorney refused to comment on the matter.
According to retirement plan officials, employees who are terminated are still eligible for future benefits unless they decide to forfeit their benefit and receive a refund of all their contributions made during their entire employment.
There are a lot of factors that could be used to calculate the overall pension benefits of Chauvin, but he would likely be eligible for yearly payments of an estimated amount of $50,000 a year or more if he chose to start getting them at 55-years-old.
This is according to his 2019 payroll data, his pension plan guidance, contract details, and the salary schedules of the Minneapolis Police Department. The overall benefits could stretch to $1.5 million or more in just 30 years, and that does not include any cost of living increases.
The annual payments of Chauvin could even be higher if he gets significant amounts of overtime in the past few years.
Two of the officers that were charged in the death of Floyd were rookies, but the third one also appears eligible to receive pension benefits from his employment with the police department, according to the employment records.
Pensions of police officers
Public pensions are paid through investment returns and from local governments that are funded by taxpayers and it is also paid by workers.
The pensions of public safety officials such as police officers are very generous, and it has contributed to the increase of the state and local budgets in the United States.
Pensions of public safety officials are almost impossible to reduce because they have been promised in their contracts that they will get a specific amount.
Police unions have also fought to protect their worker pensions. The officers would also usually pay some of their own money into the funds and they usually receive their pensions in lieu of Social Security.
The public is demanding the government to defund the police department and distribute the money to other social services such as community development, mental health treatment, youth community, and education. The pensions of the police will likely be a flashpoint in the debate.
