Retirement Benefits

What You Should Know Before Withdrawing Your CalPERS Contributions

If you’re in the process or already permanently separated from CalPERS-covered employment, you can request to have your member contributions and interest refunded or rolled over into an Individual Retirement Account (IRA) or another employer retirement plan that accepts rollover contributions.

However, it’s important to understand that if you withdraw your contributions and interest from your CalPERS account you will no longer be a member and you will not be eligible for any future service retirement, disability retirement, or death benefits.

Learn the Facts About Refunding

Keep in mind that requesting a refund is an irrevocable decision. Visit our Refund Member Contributions page to read about all the considerations, eligibility, and steps to apply.

If you’re interested in refunding your contributions, we’ll need a completed Refund Election Application (PDF). Once we process your application, you can typically expect to receive your refund within 30 to 45 days.

Consider Retirement

If you meet the age requirement, you may consider applying for retirement before you apply for a refund of contributions. Log in to your myCalPERS account to determine if you’re eligible to retire and receive a lifetime monthly benefit. Visit our Service Retirement page to learn more.

Returning to Work for a CalPERS-Covered Employer

You may redeposit your funds in the future if you requalify for CalPERS membership. However, the cost will be higher than the amount of your refund and will increase over time. For details about purchasing this type of service credit upon reemployment, visit our Service Credit page.