Wish I could have retired at 40 with half pay. Wish I could retire at 70 with half pay.
“Wish I could have retired at 40 with half pay. Wish I could retire at 70 with half pay.”
Hell, I wish I could just retire!
Cal Peace Officer and Fire Fighter pension formula.
3% of highest year salary times years of service at age 50. maximum take 90%. Must be 21 to start job.
This formula was enacted under Gray Davis after bribes from state unions. Then the cities and counties accepted the formula to stay competitive in hiring.
I retired under old formula. 2.5% at 50 3.0 at 55%. I was 52 after my heart attack.
My retirement was generous, but the bump to 3.0 at 50 broke the bank. The state and taxpayers still reeling.