I am trying to get a toggleable 2.0 to 2.6 ish voltage reference that can supply up to 45 mA. I simulated the below circuit and found this to be acceptable. However upon building the circuit, I found my Vout voltage to be much higher, around 3.2V. The voltage drops slightly to 3.0V depending on the load (used 100 ohms to test).
So I think the Zener isn't operating correctly. However, when measuring the voltage across the 50 ohm resistor (5.5V-3.2V)/50ohm = 46mA, I found that the Zener should be on! This Zener diode only needs like 5 mA to operate correctly. So what gives? Is the knee of this zener just really bad? What should I do to ensure the voltage never goes above 2.6V? The PNP is toggled with a GPIO pin from an MCU.