California PERS (a.k.a. CalPERS) is a complex system of 2,044 separate retirement plans involving 1,573 public agencies 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 have 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
