Retirement Pension

Vesting means you are entitled to a pension once you reach retirement age which varies based on your retirement formula. A CalPERS member becomes fully vested for a retirement pension after five years of credited CalPERS service. 

To qualify for health and dental into retirement, you must retire from a benefit eligible position within 120 days of separation from the CSU AND meet either five year or ten-year vesting requirement (see chart below). 

• Retirees pay the same health contributions as active CSU employees.
• Retiree dental plan premium is paid by CalPERS.
• Retiree vision can be continued at the retiree's expense.

A CalPERS pension is based on three factors: years of service credit, age of retirement, and highest consecutive 12- or 36-month compensation. In addition, benefits are provided for disability, death, and to survivors or beneficiaries of eligible members.  

• Service Credit: Total years of employment with a CalPERS employer. This could include other types of service credit such as sick leave and service credit purchased. 
• Benefit Factor (age): Percentage of final compensation for each year of service credit, based on an employee’s age at retirement and retirement formula. 
• Final Compensation: Highest average annual compensation for a 12- or 36-month period of employment. 

Use the Retirement Estimate Calculator to get an idea of what your monthly benefit might be. You may access the calculator by logging into your myCalPERS. Go to the Retirement tab and select Retirement Estimate Calculator. This is intended to provide only an estimate of your future retirement benefits. Your actual retirement benefits will be determined when you formally apply for retirement.