CalPERS Retirement Calculator
Estimate your California Public Employees Retirement System pension benefits using official CalPERS formulas.
Your Information
Classic: Average of highest 12 consecutive months
Age Factor at 60: 2.000%
Classic 2% @ 55 - Max factor: 2.418%
Your CalPERS Estimate
Enter your information and click "Calculate My CalPERS Benefit" to see your estimated pension.
Guaranteed for Life
CalPERS pensions are guaranteed monthly income for life, with optional survivor benefits for your spouse.
Cost-of-Living Adjustments
Most CalPERS benefits include a 2% annual COLA to help your pension keep pace with inflation.
Health Benefits
CalPERS retirees may be eligible for health insurance benefits through the CalPERS Health Program.
Understanding CalPERS Retirement
Largest Public Pension
CalPERS is the largest public pension fund in the United States, managing over $450 billion in assets for 2 million members.
PEPRA Changes
Members hired after January 1, 2013 are subject to PEPRA, with lower benefit formulas and higher retirement ages.
Guaranteed Benefits
CalPERS benefits are constitutionally protected in California and provide guaranteed lifetime income.
Annual COLA
Most CalPERS pensions include a 2% annual cost-of-living adjustment to help maintain purchasing power.
CalPERS Benefit Formulas Explained
| Formula | For Who | Min Age | Max Factor | Final Comp |
|---|---|---|---|---|
| Classic 2% @ 55 | State misc. members hired before 1/1/2013 | 50 | 2.418% at age 63 | Highest 12 months |
| Classic 2% @ 60 | Local misc. members hired before 1/1/2013 | 50 | 2.418% at age 63 | Highest 12 months |
| PEPRA 2% @ 62 | All new members hired on/after 1/1/2013 | 52 | 2.5% at age 67 | Highest 36 months |
Understanding the Formula
Age Factor % x Service Credit x Final Compensation = Annual Pension
Example: 2.0% x 30 years x $100,000 = $60,000/year ($5,000/month)
Protecting Your CalPERS Pension from Inflation
While CalPERS provides a 2% COLA, actual inflation has averaged 3-4% historically. Here is how California retirees protect their purchasing power.
The Inflation Gap Problem
With a 2% COLA and 4% inflation, your pension loses 2% of purchasing power each year. Over 20 years, this means your $5,000/month pension could feel like only $3,400 in today's dollars. This is why supplementing your pension is crucial.
Gold IRA as Inflation Hedge
Many California state employees supplement their CalPERS pension with a Gold IRA. Gold has historically maintained purchasing power during inflationary periods. You can rollover a 457(b), 403(b), or other retirement accounts into a Gold IRA while keeping your CalPERS pension intact.
Diversification Strategy
Your CalPERS pension provides guaranteed monthly income. Adding gold to your retirement portfolio provides a hedge against both inflation and market volatility. This diversification helps ensure your retirement savings maintain real value throughout your retirement years.
CalPERS Calculator FAQ
How is my CalPERS pension calculated?v
CalPERS uses the formula: Age Factor % x Service Credit Years x Final Compensation. Your age factor depends on your retirement age and benefit formula (Classic or PEPRA). Final compensation is typically your highest 12 or 36 consecutive months of pay.
What is PEPRA and how does it affect my pension?v
PEPRA (Public Employees' Pension Reform Act of 2013) applies to members hired on or after January 1, 2013. PEPRA members have a 2% @ 62 formula with a minimum retirement age of 52 and final compensation based on the highest 36 months instead of 12.
Can I retire early from CalPERS?v
Yes, Classic members can retire as early as age 50, and PEPRA members at age 52. However, retiring before the 'at' age in your formula (55, 60, or 62) results in a reduced age factor and lower monthly benefits.
What survivor benefits does CalPERS offer?v
CalPERS offers several survivor options: 100%, 75%, or 50% of your benefit to your survivor after your death. Choosing a survivor option reduces your monthly benefit during your lifetime, with higher survivor percentages resulting in larger reductions.
How can I supplement my CalPERS pension?v
California state employees can supplement CalPERS with a 457(b) deferred compensation plan, Social Security (if covered), personal savings, and Individual Retirement Accounts including Gold IRAs for inflation protection.
Important Disclaimer
This calculator provides estimates only. Actual CalPERS benefits may vary based on your specific employment history, employer contract, service credit purchases, and other factors. For official benefit estimates, please contact CalPERS directly or use the myCalPERS online system. This is not financial advice.
California Retirees: Protect Your Pension Purchasing Power
While CalPERS provides a 2% COLA, inflation often runs higher. Many California state employees supplement their pension with a Gold IRA to maintain purchasing power throughout retirement.