Benefits Overview

CalPERS provides and administers a variety of benefit programs and services. If you're an employer and want to review or contract for these services, refer to Benefits Programs and Contracts. If you're an active member or retiree and would like to read more about our benefits, refer to Active Members. You can also select the specific links for each program or service below.

• California Employers' Benefit Trust (CERBT) - CERBT is a Section 115 Trust fund dedicated to prefunding Other Postemployment Benefits for all California public agencies. Even those not contracted with CalPERS health benefits can prefund future retiree benefits such as health, vision, dental, and life insurance.
• Death - Upon an active member's or retiree's death, we provide benefits to their beneficiaries or survivors based on the member's occupation and employer, employment status at the time of death, and specific provisions in the contract between CalPERS and the employer.
• Deferred Compensation (401k, 457, etc.) - Our deferred compensation plans include Supplemental Income 457 and Supplemental Contributions. Members can enroll in the 457 Plan if their employer participates in the plan. Employers can visit the CalPERS 457 Plan Employer Resource Center or call us at (800) 696-3907 to learn more.
• Disability & Industrial Disability - We offer disability retirement (the cause of disability doesn't need to be related to employment) and industrial disability retirement (disability due to a job-related injury or illness). Benefits are determined by the member's employer, occupation, and specific provisions in the contract between CalPERS and the employer.
• Health - We provide health benefits to more than 1.5 million public employees, retirees, and their families through health plans from Preferred Provider Organizations, Health Maintenance Organizations, and Exclusive Provider Organizations. Open Enrollment is held each fall to allow members to make health plan changes.
• Long-Term Care - CalPERS Long-Term Care is an optional, employee-paid benefit available to all active members, retirees, and their eligible family members, including children and siblings between the ages of 18 and 79, parents, parents-in-law, and spouses.
• Retirement - We cover state, school, and contracting local public agency employees, as well as some judges and legislators. Retirement benefits are calculated using a defined formula rather than contributions and earnings to a savings plan. The member's years of service credit, age at retirement, and final compensation are used in the formula. Additionally, retirement formulas vary based on the member's employer, occupation, and specific provisions in the contract between CalPERS and the employer.