Teammate Handbook Cover

Service Credit You earn service credit for each year or partial year you work for a CalPERS-covered employer. Service credit accumulates on a fiscal-year basis, July 1 through June 30. You may view your current service credit at any time by logging in to my|CalPERS at my.calpers.ca.gov or by referring to your CalPERS Annual Member Statement to verify your current service credit total as of June 30. In some cases, you may be eligible for other types of service credit that can help you maximize your retirement benefit. Other types of service credit include: • Unused sick leave at retirement • Redeposit of contributions you previously withdrew from CalPERS • Service with a CalPERS-covered employer prior to your date of membership • Service with a public agency prior to the date of that agency’s agreement with CalPERS • Certain types of leaves of absence, Peace Corps, AmeriCorps VISTA, AmeriCorps, or military service For more information about service credit, obtain the CalPERS publications A Guide to Your CalPERS Service Credit Purchase Options (PUB 12) and A Guide to Your Military Service Credit Options (PUB 15). Benefit Factor Your benefit factor is the percentage of pay to which you are entitled for each year of service. It is determined by your age at retirement and the retirement formula based on your membership date with each employer. This publication explains the following local safety retirement formulas:

Health Benefit Vesting

Consult your personnel office or call CalPERS to determine if additional service credit applies to health benefit vesting requirements.

50 2 percent @

50 3 percent @ 55 2 percent @

percent 55 3 @ 57 2 percent @

52 .

57 percent @ 52 . *

*

55 percent @

57 percent @ 72 . *

* Membership date on or after January 1, 2013. The percentage of pay is not limited.

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