CalPERS Pension Calculator
Advanced CalPERS benefit estimator with employer-specific formulas, reciprocity support, and optimal retirement age analysis.
Your CalPERS Details
State government employees
Reciprocity with Other CA Systems
Advanced CalPERS Analysis
Enter your CalPERS details and click "Calculate Pension" to see your benefit estimate, optimal retirement age, and health benefits eligibility.
Employer-Specific
Different employers have different CalPERS formulas. State and school employees typically have 2%@55 vs local government 2%@60.
Reciprocity
Service credit from CalSTRS, UC Retirement, or 37 Act systems can be combined with CalPERS for a larger pension.
Health Coverage
Vesting for retiree health benefits varies by employer - typically 10 years for state, 20 years for local government.
Timing Matters
The optimal retirement age balances higher monthly benefits (waiting) vs more years of payments (retiring earlier).
CalPERS Formulas by Employer Type
| Employer Type | Classic Formula | PEPRA Formula | Health Vesting | Notes |
|---|---|---|---|---|
| State of California | 2% @ 55 | 2% @ 62 | 10 years | Includes CSU, various state agencies |
| School Districts | 2% @ 55 | 2% @ 62 | Varies | Classified (non-teaching) employees |
| Local Government | 2% @ 60 | 2% @ 62 | 20 years | Cities, counties, special districts |
| Public Safety | 3% @ 50 | 2.7% @ 57 | 20 years | Police, fire, corrections |
Understanding CalPERS Reciprocity
Combine service from multiple California public retirement systems
CalSTRS
California State Teachers Retirement System
For educators who also worked in non-teaching public positions
UCRS
University of California Retirement System
UC employees who also worked for state/local government
1937 Act County
County retirement systems (LA County, etc.)
20 California counties with their own systems
JRS/LCSA
Judges and Legislators retirement systems
Elected officials and judicial officers
How Reciprocity Benefits You
Combined Service Credit
All service years count toward vesting and benefit calculation
Highest Salary Used
Your highest final compensation from any system applies to all
Concurrent Retirement
Retire from all systems on the same date for maximum benefits
No Gap in Employment
Must maintain reciprocity by not breaking service more than 6 months
CalPERS Retiree Health Benefits
Understanding Health Vesting
CalPERS provides access to health insurance for eligible retirees. To qualify, you must:
- Meet your employer's vesting requirement (typically 10-20 years)
- Retire directly from CalPERS-covered employment
- Employer must participate in CalPERS health program
State Employees
100% employer health contribution after 10 years of service (100/90 formula). 50% at 10 years, increasing 5% per year.
Local Government
Varies by employer contract. Many require 20 years for full vesting. Some use 10 years minimum with increasing contributions.
Medicare Coordination
At age 65, Medicare becomes your primary coverage. CalPERS health plans coordinate with Medicare, often reducing your out-of-pocket costs significantly.
Finding Your Optimal Retirement Date
Factors to Consider
Reasons to Wait Longer
- Higher age factor = larger monthly benefit
- More service credit years
- Higher final compensation
- More time to vest in health benefits
Reasons to Retire Earlier
- More years receiving payments
- Enjoy retirement while healthy
- Time for second career or consulting
- Health or life circumstances
Pro Tip: The Break-Even Point
Our calculator shows the optimal retirement age based on maximizing lifetime benefits to age 85. However, your personal situation matters most. Consider using our comparison table to find your "break-even" point - when waiting longer would require living past a certain age to make up for the payments you missed by not retiring earlier.
CalPERS Pension Calculator FAQ
What is CalPERS reciprocity and how does it work?v
Reciprocity allows you to combine service credit from multiple California public retirement systems (CalPERS, CalSTRS, UCRS, 37 Act Counties). Your highest salary from any reciprocal employer is used to calculate benefits from all systems. You must maintain continuous membership without a break longer than 6 months.
How do I qualify for CalPERS retiree health benefits?v
You must meet your employer's vesting requirement (typically 10 years for state, 20 years for local government) and retire directly from a CalPERS-covered position. Your employer must also participate in the CalPERS health program.
Why does my employer type affect my CalPERS formula?v
Each employer contracts with CalPERS for specific benefit formulas and contribution rates. State employees traditionally have 2%@55, while local governments often chose 2%@60. Public safety has enhanced formulas. PEPRA (2013) standardized formulas for new members.
What is the 'optimal' retirement age?v
The optimal age mathematically maximizes your lifetime benefits. It balances waiting longer for a higher monthly benefit against starting payments earlier. Our calculator projects this to age 85, but your personal health, financial needs, and life goals should guide your decision.
Can I supplement my CalPERS pension with other investments?v
Absolutely. Many California public employees use 457(b) deferred compensation plans, 403(b) plans (for school employees), IRAs, and Gold IRAs to supplement their CalPERS pension. This diversification helps protect against inflation beyond the 2% COLA.
Important Disclaimer
This advanced calculator provides estimates based on standard CalPERS formulas. Actual benefits may vary based on your specific employer contract, service credit purchases, reciprocity agreements, and other factors. For official benefit estimates, please use myCalPERS or contact CalPERS directly. This is not financial or tax advice.
Your CalPERS Is Solid. But Is It Enough?
After 25+ years serving California, your pension is secure. But with 2% COLA and 6%+ inflation, your buying power shrinks every year. Gold helps maintain what you've earned.