This website has information about early retirement for those who have a CalPERS pension. It’s also relevant to those with other traditional pensions such as CalSTRS and UCRP. According to Social Security, most people are expected to retire between ages 65 and 67. However, retiring much earlier is realistic only with a plan such as CalPERS. With a traditional pension, you can retire as early as age 50.
Although this information can be used by people who have defined contribution retirement plans such as an IRA or 401k, their early retirement efforts often lag behind those in defined benefit plans such as CalPERS. For instance, 401k and IRA accounts do not include cost of living increases (COLA), which means funds need to stay invested to keep ahead of inflation.
If you are planning to retire early without a CalPERS like pension, my best piece of advice for you is to significantly lower your monthly living standards. Without a COLA, it’s far more likely you will outlive your savings. The same is true for CalPERS retirees who are entitled to less than 60% of their pre-retirement salary.
Global Financial Crisis:
IRA, 401k, 403b and 457 Retirement Accounts for CalPERS members:
Career and Jobs:
Credit Card Debt
Marriage and Divorce:
Home Mortgages and Home Loans:
Pension Reform and Politics
What Should City of SJ Employees Do With Pension Reform? (Hint: Exit stage left)
Social Security and Medicare: