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That $2 million also happens to be the implied booty of your average California policeman who retires at age 55. Typical cities in California have a police officerâs retirement plan that works as follows: 3% at age 50.
force participation rates of men and women for four years â 1963, 1983, 2003, and 2013 â showing recent workforce activity significantly above the low point in the 1980s. The fourth constructs, for men and women, average retirement ages â the age when 50 percent of the population is out of the labor force. Todayâs average retirement ages of 64 for men and 62 for women are just about where they were a decade ago, suggesting that some of the factors spurring the turnaround since the 1980s may have exhausted themselves. The final section concludes that, given the importance of working longer for retirement secu-