My CalPERS pension (State of California) will fund majority of my retirement (roughly between 66% to 95% of 1-year final comp) depending what age to retire. Our health and dental will be 100% covered. I'm 39 now, but if for instance my BU never received any more raises or I don't promote. My pension is worth based on actuarial valuation @ 100 years life expectancy.
Age 55 worth $1.605 million
Age 63 worth $1.974 million
This is really my million dollar question, what age to retire?
Not counting my eggs before they hatch but I expect to receive few more raises or promotions (i hope
) which changes those amount. But its nice to plan things ahead knowing what you will end up. The rest of my retirements comes from ROTH and 457 deferred comp. My DW also has their own pension and 403(b) with employer match.