Your employment with a CalPERS-covered employer means you’ve taken an important step in achieving retirement security. It’s never too early to think about your retirement, and there are things you can do now to ensure you end up with the retirement you want.
Here are five simple steps you can take now:
- Register for myCalPERS to conduct business with CalPERS online:
- access real-time details about your retirement
- view health benefit and annual member statements
- request a document
- send a confidential message
- schedule an appointment
- find out about classes and webinars
- Designate your pre- and post-retirement beneficiaries
If you die before you retire, all your contributions will be paid to your pre-retirement beneficiary. If you die after you retire, your post-retirement beneficiary will receive either a one-time lump-sum payment or an ongoing monthly benefit. It’s important to designate who your beneficiaries are because benefits are paid to the beneficiary on file. Learn more about beneficiaries.
- Submit a Special Power of Attorney
A CalPERS special power of attorney allows you to designate a representative or representative agent, known as your attorney-in-fact, to conduct your retirement affairs if you become unable to act on your own behalf.
- Explore a supplemental savings plan
Your CalPERS pension may not be enough to support your lifestyle in retirement, but a deferred compensation plan may help you get there. Savings can become an important factor to bridge the gap. Check with your employer to find out about what deferred compensation plans are available to you.
- Viewing our Planning Your Financial Future video series
Creating a plan to ensure you’re financially secure can be a challenging process, but we’re here to help. The video series along with the Planning Your Financial Future Checklist provide a guide to help you plan for the future.
Additional Resources to Help You Plan Your Retirement
- Visit our Using myCalPERS page to learn how to register, recover your username and password, and find your CalPERS ID.
- Not sure what steps or actions you should take as you embark on your career? Our New CalPERS Member page has you covered.
- Our Retirement Planning Checklist gives you a breakdown of what to consider as you near retirement.