Yep, at 55, figured at 3% a year of their highest years wages less some things. So when you look at that firefighter with a $140,000 a year in income, how much of that qualifies for the 3% a year. If they retire at 55 having started at 25, that’s 90%. 90% of $140,000 is $126,000/yr. At 55, CalPers says they’ll live to 87 based on current retirees. That’s another 32 years…
