0000000016 00000 n Are you interested in knowing about what a job at the State of California is like? Use our online form forQuestions, Comments, & Complaintsabout CalPERS programs and services. The court decision State of California v. United States Department of Laborended the Assembly Bill 1222 PEPRA exemption for California transit employees who became new members on or after January 1, 2013. However, state employees are excluded from this requirement except for employees of the Legislature, California State University (CSU), and the judicial branch. 0000370039 00000 n 0000005334 00000 n What Is the CalPERS Retirement Plan? Until regulations are approved and implemented, continue reporting pensionable compensation according to Circular Letter 200-062-12. Fact: If youre 100% vested for health benefits, this means you receive 100% of the employers contribution toward your health premiums. If you separate from a CalPERS-covered employer, your benefits may be impacted. Both limits are subject to increases in the Consumer Price Index. Establishing reciprocity early allows you to coordinate benefits when you retire from both systems on the same day. A person retired from a public retirement system other than CalPERS who is appointed to a full-time position on a state board or commission will be required to suspend his or her retirement allowance and become an active member of CalPERS, unless the appointment is non-salaried. Your CalPERS Pension Is on a Vesting System. Here's What That Means. Copyright 2023 California Public Employees' Retirement System (CalPERS) | State of California, Public Employees Pension Reform Act PEPRA, Retirement Benefit Enrollment Level Certification, Member Reciprocal Self-Certification Form (PERS-EAMD-801) (PDF), When You Change Retirement Systems (PUB 16) (PDF), Public Agency & Schools Reference Guide (PDF, 3.17 MB), Member Reciprocal Self-Certification (PERS-EAMD-801) (PDF), Welcome to CalPERS: A Benefits Guide for Public Agency Members (PUB 5), Welcome to CalPERS: A Benefits Guide for School Members (PUB 3), Welcome to CalPERS: A Benefits Guide for State Members (PUB 4). Use our online form forQuestions, Comments, & Complaintsabout CalPERS programs and services. A public employer may provide contributions to a defined contribution plan for compensation above the pensionable compensation limit in 7522.02(c) when combined with the employer's contributions for compensation up to the pensionable compensation limit. For the 2022 calendar year, the PEPRA cap is $134,974 for members who participate in Social Security and $161,969 for members who don't. Both limits are subject to increases in the Consumer Price Index. She has not yet met either vesting requirement because she hasn't worked five years, but she's on her way! 0000002515 00000 n However, electing a refund terminates your CalPERS membership; if you decided to return to a CalPERS-covered employer later in life, your service credit vesting would start over. next consecutive semester or quarter if that appointment requires service of half-time %%EOF In addition, PEPRA prohibits the reporting of EPMC as pensionable compensation and further prohibits the conversion of EPMC to final compensation for new members, regardless of impairment.