There are a million problems with the police, but this isn't anywhere near accurate.

https://www.osc.ny.gov/retirement/publications/1841/20-year-retirement-benefit

With 20 years of creditable service, you will receive a retirement benefit of 50 percent of your Final Average Salary (FAS).

NYPD cops aren't pulling in an average of $1.2 million per year.

Edit -- better source:

The average pension received by full career retirees was $84,964.