We’ve collected some of the most interesting facts found on our website, www.calpers.ca.gov. If you haven’t visited our site lately, now is a great time to check it out and learn more about CalPERS and your benefits.
- The retirement system that grew into what is now the California Public Employees’ Retirement System (CalPERS) was established in 1932.
The History of CalPERS: A Timeline
- CalPERS is the nation’s largest public pension fund, serving more than 2 million members in the retirement system and administering benefits for more than 1.5 million members and their families in our health program.
- CalPERS offers a defined benefit plan where retirement benefits are based on a formula, rather than contributions and earnings to a savings plan. Service retirement is a lifetime benefit.
- The average monthly retirement allowance is $3,281 and the average CalPERS member retires at age 58.7 with 20.3 years of service.
Facts at a Glance
- 33% of CalPERS retirees do not receive Social Security.
Pension & Retirement Facts at a Glance
- For every dollar CalPERS pays in pensions, 60¢ comes from investment earnings, 29¢ comes from employers, and 11¢ comes from member contributions.
Who Pays for CalPERS Pensions?
- You can retire as early as age 50 with five years of service credit as a Classic member, unless all service was earned on or after January 1, 2013, as a PEPRA member. Then you must be at least age 52 to retire.
Service & Disability Retirement
- Each May, most state retirees and all school retirees receive a 2% cost-of-living adjustment (COLA), and most public agency retirees receive a 2%, 3%, 4%, or 5% COLA.
Cost-of-Living Adjustment (COLA)
- If you retire within 30 days of your employment separation date, your health coverage will automatically continue into retirement. If the gap between your separation and retirement dates is more than 120 days, you won’t be eligible for health benefits in retirement.
Health & Medicare
- Our health plans offer an array of health and wellness education, resources, and discount programs to help members make healthy choices and positive lifestyle changes.
Health Plan Resources
- All CalPERS health plans offer a diabetes prevention program (DPP) at no cost to eligible members.
Diabetes Prevention Program
- Active and retired members can choose health plans using either their work or home ZIP code.
Health Plan Search by ZIP Code
- Since 2011, we’ve saved $8 million annually through our innovative health care approaches.
Health Benefits Facts at a Glance
- Health equity is a strategic focus for CalPERS as we work to ensure equitable care for all members, regardless of race, ethnicity, language, sexual orientation, or gender identity.
- We offer dozens of informative member publications to help you understand your benefits. Over the last 12 months, our publications have been downloaded more than 240,000 times.
Forms & Publications
- The CalPERS Board of Administration consists of 13 members who are elected, appointed, or hold office ex officio. The board is responsible for the management of CalPERS and controls the administration and investment of funds.
Board of Administration
- Our Investment Office invests in stocks, bonds, real estate, private equity, inflation-linked assets, and other public and private investment vehicles. We are one of the largest private equity investors in the world.
- In 2021 we engaged 700+ companies on executive compensation, corporate board diversity, climate change, investor rights, and human capital management.
Investment & Pension Funding Facts at a Glance
- CalPERS’ campus buildings have been designated high-performance green buildings by the U.S. Green Building Council and Green Building Certification Institute.
Green Building Accomplishments and Initiatives
- We have eight Regional Offices located throughout the state where staff can assist you with a variety of services and educational events.
Headquarters & Regional Offices
- CalPERS values diversity and inclusion, facilitates employee recognition, and actively promotes career development for our 2,843 employees.