CalPERS membership can do a lot for you, including having a positive impact on your family. There’s no better time to ensure that the people you care about are protected through your CalPERS pension and health benefits.
Here’s how to check that you and yours are getting the most from your CalPERS benefits.
1. Update your account profile with any family changes or 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. Designate your beneficiary.
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. Plan ahead for health-related expenses.
Look into what kind of coverage your plan can provide you and your family by exploring the variety of health plans and rates that may be 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. Set up your CalPERS Special Power of Attorney.
This allows a designated person to conduct important business for you should you become unable to do so yourself, such as making changes to your address or retirement benefit elections. >> Watch the Power of Attorney webinar.
5. Check out ScholarShare.
California’s 529 college savings plan, outside of CalPERS, 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 virtual member events and classes.