How long would I get pension checks for under the CalPers Retirement system for peace officers?
Hypothetically, if I put in about 25 years of service and my highest years was about $110,000, how much would I get per year and for how long? What about if I die after retirement? How much would my wife and children get? It is a 3% at 50 plan, by the way.
Public Comments
- You should receive your first pension check in about 30-60 days. Sometimes sooner. Generally if you die, your spouse will received 50% of what you would have received until she is either remarried or dies herself. You can elect to take a smaller amount in exchange for a higher death benefit for your spouse. This is mainly done by people who went into LE at the age of 21 and retire at 51 with 30 years. You receive a 90% pension under this plan but if you elect to take less - such as 75-80%, your spouse would receive a higher amount should you die first.
