Myth #1 Police and Fire Employees should retire earlier, they have a much shorter lifespan than others.
Here are the CalPERS life expectancy data for miscellaneous members:
-- If the current age is 55, the retiree is expected to live to be 81.4 if male, and 85 if female.
-- If the current age is 60, the retiree is expected to live to be age 82 if male, and 85.5 if female.
-- If the current age is 65, the retiree is expected to live to be age 82.9 if male, and 86.1 if female.
Here is the CalPERS life expectancy data for public safety members (police and fire, which are grouped together by the pension fund):
-- If the current age is 55, the retiree is expected to live to be 81.4 if male, and 85 if female.
-- If the current age is 60, the retiree is expected to live to be age 82 if male, and 85.5 if female.
-- If the current age is 65, the retiree is expected to live to be age 82.9 if male, and 86.1 if female.
That’s no mistake.