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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.
The average retirement age among retirees is 62, Gallup found. And even retirement at age 62 is a recent development. The average retirement age has hovered around 60 for most of the past decade.