Benefits

CalPERS Retirement Benefits

CalPERS is a defined benefit plan where retirement benefits are based on a formula (for example, 2% @ 62, 2% @ 60, or 2% @ 55), rather than contributions and earnings to a savings plan, and are calculated based on three factors: a member's years of service credit, age at retirement, and final compensation (average salary for a defined period of employment).

To view the Retiree Benefits Booklet, Click Here.

Service Retirement

Service retirement is a lifetime benefit. Employees can retire as early as age 50 with five years of CalPERS pensionable service credit unless all service was earned on or after January 1, 2013, then employees must be at least age 52 to retire. There are some exceptions to the 5-year requirement. If you are employed on a part-time basis and have worked at least five years, or you are also a member of a reciprocal retirement system, contact CalPERS to find out if an exception applies to you.

Disability & Industrial Disability Retirement

An employee who has an injury or illness that prevents them from performing their job duties may be eligible for disability retirement through CalPERS. The cause of disability does not need to be related to their employment.

If the disability is the result of a job-related illness or injury, and the employee is a state safety member, state peace officer/firefighter, or state industrial member, the employee may be entitled to an industrial disability retirement.