CalPERS membership offers valuable benefits—not just for you, but for your loved ones as well. Now is the perfect time to make sure your family is protected with the security and peace of mind that your retirement and health benefits provide.
Here’s how to ensure you and your loved ones are getting the most out of your CalPERS benefits.
1. Keep your account current: Report family changes and life events.
If you’ve gotten married, entered into a new domestic partnership, or had a child join your family, make sure those changes are reflected in your myCalPERS account. Certain life events may change your beneficiary designation or impact your health benefits coverage. Watch the Family Status Changes webinar.
2. Assign a beneficiary for your death benefits.
Death benefits are paid to the beneficiary on file, so it’s important to keep your beneficiary up to date to ensure your loved ones receive benefits if something happens to you. Watch the Beneficiary Designation Quick Tip.
3. Understand your health plan’s coverage.
Find out what your health plan covers for you and your family by checking the different plans and prices available to you. Take advantage of Open Enrollment in the fall if you decide to make changes to your health plan. Watch a short video on choosing a health plan that fits your needs.
4. Designate your CalPERS Special Power of Attorney.
A CalPERS Special Power of Attorney lets someone handle important matters for you if you can’t do them yourself, like updating your address or choosing your retirement benefits. You might already have a power of attorney from another source, but it may not cover your CalPERS retirement benefits. Watch the Power of Attorney webinar.
5. Check out ScholarShare 529 and other savings plans.
California’s 529 college savings plan, ScholarShare, offers tax advantages. By starting to save early, you can reduce or eliminate the need for student loans when your family pursues higher education. Find out more by looking into deferred compensation plans.
To learn more about your benefits and plan for retirement, take advantage of our free in-person and virtual member events and classes.