Retirement Benefits

Benefit Factor Charts

Your benefit factor is the percentage of pay you are entitled for each year of service. It’s determined by your age at retirement and the retirement formula based on your membership date with each employer. 

Deferred Compensation

CalPERS deferred compensation plans include the 457 Plan and Supplemental Contributions Plan. These voluntary plans allow you to save additional income for retirement. Depending on your employer, you may be eligible for several.

Reciprocity (Linking Retirement Systems)

Reciprocity allows you to move from one retirement system to another without losing your benefits. CalPERS' reciprocal agreement with other California public retirement systems supports coordinating your benefits between the two systems when you retire.

Refund Member Contributions

As a member, you may take a refund of your member contributions and interest if you no longer work for a CalPERS-covered employer. Taking a refund ends your CalPERS membership and forfeits your right to future benefits. 

Service & Disability Retirement

Service retirement is a lifetime benefit. In general, you can retire at age 50 with five years of service credit unless all service was earned on or after January 1, 2013. After that, you must be at least 52 to retire. 

Service Credit (Time Worked)

You earn service credit for each year or partial year you work for a CalPERS-covered employer. It accumulates on a fiscal year basis (July 1 through June 30) and is one of the factors we use to calculate your retirement benefits.