Many thanks to “A Momma’s View” for posting this on her page!
I have a unique opportunity to retire at age 55; maybe not that unique, but more of a rarity. I was fortunate to begin work for a recreation and parks department at a municipal government agency at age 26.
How can I retire at 55? In California, we (and our employers) pay into CalPERS, a public employee retirement system. To retire, the formula for eligibility is 2% at 55. With 30+ years in, this is the equivalent of retiring with 60% of my salary. I have 31 years in with PERS as I was able to purchase service credits from working part-time during college at PERS agencies. With 31 years, I am retiring with 62% of my salary.
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