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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.
Law enforcement retirement eligibility under the Federal Employee Retirement System (FERS) allows retirement at age 50, after 20 years of law enforcement service, or at any age after 25 years of law enforcement service. Mandatory retirement for Postal Inspectors is at age 57. For preference-eligible veterans hired after age 37, mandatory retirement is at the end of the month after 20 years of law enforcement service. Retirement contributions based on law enforcement retirement, in addition to FERS contributions, are withheld.