Understanding California PERS

California PERS (a.k.a. CalPERS) is a complex system of 2,044 separate retirement plans involving 1,573 public agencies (those numbers are provied by CalPERS) that have been categorized into 31 different pension plans in TRAK (as of this writing). Below is an overview of how the pension system is divided and a brief introduction on a few key parts of the plans.

CalPERS is divided into 3 categories of plans:

1.School (excluding California STRS members)

2.State

3.Local

The later two categories (State and Local) have subcategories (discussed below). To know what pension plan your client is in, first know what category, and which subcategory of employment they are in.

Additionally, the CalPERS plans typically have specific crediting values associated with the plan at a specific age.

Within each CalPERS plan "Survivor Continuance" must be configured, which may or may not be offered by a specific employer. This is an additional benefit provided to the employees that provides survivor benefits no matter what retirement option a participant selects.

Finally, participants in a CalPERS pension plan may or may not be participating with Social Security which can be configured when the plan is selected.

Each CalPERS pension plan in TRAK is listed below in its category and (where applicable) subcategory.

1.School: Classified employees

California PERS School Employees, 2% at 55

California PERS School Employees, 2% at 62

2.State

a)Miscellaneous/Industrial

California PERS State Misc., 1.25% at 65

California PERS State Misc., 1.25% at 67

California PERS State Misc., 2% at 55

California PERS State Misc., 2% at 60

California PERS State Misc., 2% at 62

b)Safety

California PERS State Safety, 2% at 50

California PERS State Safety, 2% at 55

California PERS State Safety, 2% at 57

California PERS State Safety, 2.5% at 55

California PERS State Safety, 2.5% at 57

California PERS State Safety, 2.5% at 60

California PERS State Safety, 2.7% at 57

California PERS State Safety, 3% at 50

California PERS State Safety, 3% at 55

California PERS Peace Officers and Firefighters, 2.5% at 55

3.Local

a)Miscellaneous

California PERS Local Misc., 2% at 55

California PERS Local Misc., 2% at 60

California PERS Local Misc., 2% at 62

California PERS Local Misc., 2.5% at 55

California PERS Local Misc., 2.7% at 55

California PERS Local Misc., 3% at 60

b)Safety

California PERS Local Safety, 2% at 50

California PERS Local Safety, 2% at 55

California PERS Local Safety, 2% at 57

California PERS Local Safety, 2.5% at 55

California PERS Local Safety, 2.5% at 57

California PERS Local Safety, 2.7% at 57

California PERS Local Safety, 3% at 50

California PERS Local Safety, 3% at 55