Calpers is great, your numbers are great, so you will be fine no matter which option you choose. If you’re concerned about the college financial aid part of your inquiry, choose the May 1 date to retire. Burn some of your PTO time during the month of April, so you won’t have to go into the office in April. Effectively, you stop working at the end of the first quarter of 2024. Then your kids can apply for financial aid using your 2023 income numbers. Since your numbers are fine, don’t worry about the delay in receiving your initial 2% COLA increase. Congratulations!