skarletlightning

skarletlightning t1_iuj26go wrote

Make sure you fully understand the conditions of the pension.

For example if you work under CALPERS making $100k, leave right after being vested, then decide to retire at 52, your pension would be as low as $400/month:

Service Credit (5 Years worked) x Benefit Factor (1% at 52) x Final Compensation (100k for the last 3/5 years worked) = $5k/year

adjusted for 26 years of the historic inflation average and thats more like $200/mo and $2.5k/yr in today's dollars

2