Start planning for retirement today and take advantage of the many educational resources available. That’s what longtime public employees shared with us — and wanted to pass along to newer CalPERS members — at our recent Sacramento CalPERS Benefits Education Event, or CBEE.
Here are tips for early- to mid-career CalPERS members from some of our late-career members.
Shani Keyser and Michelle Johnson, CalSTRS
Shani Keyser, left, and Michelle “MJ” Johnson, right, talk retirement all day, but not because they’re enjoying post-work bliss — they’re with the Customer Service Division at CalSTRS, the California State Teachers’ Retirement System.
But, as State of California employees, they are both CalPERS members.
With 13 years and 33 years (23 at CalSTRS) of state service, respectively, they noted how additional savings plans help supplement retirement income for both CalPERS members like themselves, and the teachers they serve every day.
“We emphasize that, the sooner you start participating in a 401(k) or other retirement savings programs, the more time there is for those funds to compound,” said Keyser. “Lean into the various savings programs to combine with your pension for a comfortable retirement.”
“Definitely take part in those plans and check your CalPERS annual statements,” added Johnson.
Nadine Braunstein, California State University, Sacramento
As an associate professor and an internship director for Sacramento State University’s dietetic program, Braunstein embraces lifelong learning and keeping an open mind, especially when it comes to retirement planning.
“Allow yourself to be curious,” she said. “In the beginning, you don’t even know what questions to ask, but listen to information in different ways, and it will begin to resonate with you. Go to CalPERS events knowing that you’re sure to learn something.
“Once you have had some time in a new job, you start to realize that retirement will come before you know it.”
Selena Hobbs, Yolo County Sheriff’s Office, and Krista Kunert, San Juan Unified School District
Friends since seventh grade, Selena Hobbs, left — an administrative services analyst — and Krista Kunert, right — a risk management analyst — have always done things together. These days, that includes planning and preparing for their retirements.
When Hobbs speaks with new co-workers, she recommends they map out their public-service futures and understand how any promotions may affect their CalPERS retirements.
“Start making a plan for your career and understand your benefits,” she said. “Also, check out the online CalPERS calculator, familiarize yourself with the CalPERS website, and stay in touch with your HR department.”
A fan of CalPERS’ webinars and videos, Kunert suggested new CalPERS members review those resources specifically as a starting point for more detailed conversations.
“You can watch the videos and then bring any questions that occur to you to a CalPERS event or appointment so you can get them answered,” she said.
Armando Espitia, City of Mountain View
A police lieutenant, Espitia (left) is preparing for his retirement after 25 years of public service. But as he gets his own near-retirement questions answered on subjects like beneficiaries and special power of attorney, he had advice for all early- to mid-career CalPERS members.
“Reach out to CalPERS, the sooner the better,” he said. “You can make an appointment in-person or virtually. They’re happy to answer questions.”
Russ Fong, Governor’s Office of Planning and Research
In addition to his current position as undersecretary, Fong has worked in State of California leadership roles at the California Department of Technology, California High-Speed Rail Authority, Department of Housing and Community Development, State Controller’s Office — and even CalPERS. As he reflected on his state-service career, he reminded new public employees to save for retirement and be proud of their work.
“Every job I’ve had impacted Californians in some form or fashion — they are the ones who motivate me,” he said. “There’s nothing more rewarding than serving in the public sector.”
Early-Career Members: Start Planning Your Retirement Today With Help from CalPERS
As Nadine Braunstein said, retirement will come before you know it. We’re here to help you prepare for your future today: Contact CalPERS at 888 CalPERS (or 888-225-7377), make an appointment at one of our Regional Offices, or send us a secure message with your myCalPERS account.