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There are plenty of calculators out there put together by experienced retirees who can nail it to the dollar. I'm glad you've had the privilege of retiring in such a wealthy state. Most of us will have to make do with far less than a CALPERS pension.
There are plenty of calculators out there put together by experienced retirees who can nail it to the dollar. I'm glad you've had the privilege of retiring in such a wealthy state. Most of us will have to make do with far less than a CALPERS pension.
Why do I get the feeling that you're not remotely glad?
Hi-not yet a CalPERS retiree but I’m close!
Probably retiring at the end of the year.
My sister retired 4 years ago and said the online calculation was only a few dollars off.
They have improved the calculator since then so I’m thinking it’s pretty accurate.
Have you requested a retirement calculation from PERS?
When are you retiring?
There are plenty of calculators out there put together by experienced retirees who can nail it to the dollar. I'm glad you've had the privilege of retiring in such a wealthy state. Most of us will have to make do with far less than a CALPERS pension.
Perhaps you don't realize that the average CalPERS pension is about $2876/month, as of 2019. Considering the high COL of CA, that's not a ton of money. It's nice, don't get me wrong, but not as much what most people seem to think.
The calculator should be close enough to make a decision whether or not to retire. It can be off by a few bucks due to vacation days on the books, actual date of retirement, or other minor factors, but not enough to worry about.
There are plenty of calculators out there put together by experienced retirees who can nail it to the dollar. I'm glad you've had the privilege of retiring in such a wealthy state. Most of us will have to make do with far less than a CALPERS pension.
There are some people who get very large retirements from CalPERS but the vast majority get relatively modest pensions.
But no one is stopping you from getting a public sector job in California so why the pension envy?
Hi-not yet a CalPERS retiree but I’m close!
Probably retiring at the end of the year.
My sister retired 4 years ago and said the online calculation was only a few dollars off.
They have improved the calculator since then so I’m thinking it’s pretty accurate.
Have you requested a retirement calculation from PERS?
When are you retiring?
I'll have my highest year August 1st. I had planned to go December 30th (I'll be 62 earlier in December) but the work situation is changing and I am not sure I want to stick around till then.
I haven't requested the official number. I've run the online calcs and I went in and they ran them too.
There are plenty of calculators out there put together by experienced retirees who can nail it to the dollar. I'm glad you've had the privilege of retiring in such a wealthy state. Most of us will have to make do with far less than a CALPERS pension.
Quote:
Originally Posted by TheShadow
Perhaps you don't realize that the average CalPERS pension is about $2876/month, as of 2019. Considering the high COL of CA, that's not a ton of money. It's nice, don't get me wrong, but not as much what most people seem to think.
Serious Conversation, you are young enough to go to California (or any state that you consider a rich state) and work, so please, if you are not satisfied with your own retirement plan, do something about it.
A lot of laws related to pensions were changed a number of years ago in California, and that average above is going to be less in the future, as people affected by it start retiring.
I have a pension from California, although not CALPERS, and the online calculation was only off by $70 a month. Several friends that have CALPERS were saying their calculations were off by less than $100 a month. Can't complain about that, because there is a lot of factors in the actual calculations that can not put in, until the day after you retire anyway.
Perhaps you don't realize that the average CalPERS pension is about $2876/month, as of 2019. Considering the high COL of CA, that's not a ton of money. It's nice, don't get me wrong, but not as much what most people seem to think.
The calculator should be close enough to make a decision whether or not to retire. It can be off by a few bucks due to vacation days on the books, actual date of retirement, or other minor factors, but not enough to worry about.
$2876/mo is a pittance to live in Cali. Do they also get social security? I have family that retired in Louisiana that gets a state pension but no social security so not sure if this is what other states do or not.
I had thought that the Cali pensions were higher than that.
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