The California Public Employees’ Retirement System manages pension and health benefits for more than 1.1 million California public employees, retirees, and their families. We provide benefits for more than 776,000 active and inactive members and approximately 332,000 retirees. CalPERS membership is divided approximately in thirds among current and former employees of the state, schools, and participating public agencies.
CalPERS is a defined benefit retirement plan. It provides benefits based on a member’s years of service, age, and highest compensation. In addition, benefits are provided for disability and death, with payments in some cases going to survivors or beneficiaries of eligible members.
The CalPERS health benefits program offers members and contracting employers 10 health maintenance organizations, two preferred provider organizations, and four special PPOs for members who belong to specific employee associations.
CalPERS was established by state law in 1932 to provide retirement benefits for state employees. In 1939, public agency and non-teaching school employees were allowed to participate. In 1962, state law authorized CalPERS to provide health benefits to state employees. The health benefits program was expanded in 1967 to include public agency and school employees. CalPERS began offering long-term care insurance on a not-for-profit basis in 1995.
For more information on CalPERS, just click here CalPERS
Also, you may access the CalPERS member booklet titled, "Planning Your Service Retirement", by clicking on the following link: Planning Your Service Retirement