Question by Lisa R: What are the basics of CalPERS retirement benefits?
I’m considering applying for a job with my City (in California), which would mean getting CalPERS retirement benefits. The starting wage is posted, and I want to know a rough estimate of what that would translate to in retirement benefits, and roughly how much I would have to contribute (if any). I looked at the website and there were no specifics. Can anyone give me a rule of thumb on calculating the benefits? I.E., 5% of salary, etc. The job is administrative (Management Analyst). Thanks!

Best answer:

Answer by Tina
I work for San Diego City Schools and am a part of the CalPERS retirement program. I’m not sure if the specefics are different with every job, but here are what my specs look like:

I get 7% taken out of my paycheck every month and put into my retirement account

I have an interest rate of 2%

My employer matches the 2%

Hope this helps. The CalPERS website is not incredibly helpful, and your account only gets updated once a year.

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