As Derek Chauvin continues to remain in jail after being charged with second-degree murder for the death of George Floyd, a new report has revealed that even if convicted he could still financially benefit. As a former police officer, it has been reported that Derek Chauvin could still be eligible to receive a million-dollar pension.
@CNN reports, although he was fired for the murder of George Floyd, former Minneapolis police officer Derek Chauvin could still receive more than $1 million in pension benefits during his retirement years…even if he is convicted of killing George Floyd. Chauvin stands to benefit from a police officer pension that is partially funded by taxpayers. Despite various state laws allowing for pensions to be forfeited for employees convicted of felony crimes related to their work—this is does not apply in Minnesota.
The Minnesota Public Employees Retirement Association confirmed that Chauvin, 44, would remain eligible to file for his pension as early as age 50. Chauvin would likely be eligible for annual payments of around $50,000 a year or more if he decided to start receiving them at age 55. The benefits could then stretch to $1.5 million or more over a 30-year period. Chauvin’s annual payments could be even higher if he received significant amounts of overtime in prior years.
Retirement plan officials said that all employees who are terminated voluntarily or for cause are eligible for future benefits unless they choose to forfeit their future benefits and receive a refund of all their contributions during their time on the job. “Neither our Board nor our staff have the discretion to increase, decrease, deny or revoke benefits,” a spokeswoman said. “Any changes to current law would need to be done through the legislative process.”
As we previously reported, Derek Chauvin is currently incarcerated with a $1.5 million bail for the murder of George Floyd—his bail was increased after initially being set at $500,000.
Want tea directly in your text inbox? Hit us up at 917-722-8057 or click here to join!
