Post-Retirement Optional Settlements
Upon retirement, members choose the benefit that shall be paid upon their death. They may choose the allowance payable for the remainder of their life, or select to take a reduction in benefits to provide a benefit to a beneficiary. The payment amounts will differ depending on which option is chosen to ensure the contributions will be sustainable over the lives of the member and/or beneficiary.
Under existing law, a retired member, after a dissolution of marriage or legal separation, may only designate a new beneficiary, if “the judgment dividing the community property awards the total interest in the retirement system of the retired member.”
Assembly Bill (AB) 1246 allows a retired member, who divorces after retirement and does not retain 100% of their retirement benefit, to designate their new spouse as the beneficiary of their post-divorce retirement settlement. Naming a new spouse as a beneficiary will not change the benefit amounts payable to the former spouse.
These provisions go into effect on January 1, 2026.
Working After Retirement: County of Solano
Senate Bill (SB) 1379 provides an exemption for the County of Solano to use retired annuitants beyond the 960-hour limitation through January 1, 2027, to address temporary staffing issues.
Among its provisions, this bill also limits the eligible classifications to the deputy sheriff, evidence technician, and communications operator; limits the total number of retired annuitants across all positions to 20; assesses a $200 fee per retired annuitant for the administration of this program; and limits the pay of these positions to the average salary of the position.
This bill went into effect immediately upon being signed into law on September 29, 2024.
Learn More
CalPERS monitors legislation at the state and federal levels to protect the best interests of our members and employers. To view summaries and reports about legislation that may affect you, visit the CalPERS legislation page.