They changed the retirement formula for new hires, downward. I looked it up. It’s now 90 percent at 58 years of age. It used to be higher, but with the increased salaries compared to 15 years ago, it’s still a lot of pension, especially calculated on pay with overtime. Hires from long ago are grandfathered into the old pension formula numbers.
There are reasons why cops retire at a younger age than most: You don’t want a 50-year-old trying to chase down thugs. The stress of the job takes a toll on people after many years. It is not uncommon for cops to die young of heart disease.