Retirement Benefits

What You Should Know Before Withdrawing Your CalPERS Contributions

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If you are in the process or already permanently separated from CalPERS-covered employment, you should understand your options.

You can request to have your member contributions and interest refunded or rolled over into an eligible individual retirement account (IRA) or another qualified employer retirement plan.

If you decide to withdraw your contributions and interest from your CalPERS account, it’s important that you understand your membership is terminated and you’ll no longer be a CalPERS member. You’ll also not be eligible for any future service retirement, disability retirement, or death benefits.

Apply for a Refund of Your Member Contributions

When your employer notifies us of your separation from employment, we’ll mail you Options at Separation (PDF). Then you can apply for a refund online through your myCalPERS account. Applying online is secure, fast, and convenient. You can also provide your direct deposit information as part of your application to secure your funds and receive them quickly. Simply log in to your myCalPERS account and follow the steps provided. Remember, this option terminates your membership with CalPERS.

Leave Your Contributions

When you permanently leave CalPERS-covered employment you also have the option to leave the contributions and interest in your account. Your membership and service credit remain intact, and the funds can continue to generate interest. You can still receive a retirement benefit if you later meet the minimum retirement eligibility requirements, or you may choose to leave the contributions on deposit.

Make an Informed Decision

Since the consequences can impact your future retirement income, you should carefully consider your decision to take a refund or leave your contributions.

For more information about your rights and responsibilities, as well as steps to apply and frequently asked questions, visit Refund Member Contributions on our website.