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Employees Role in Retirement Processing
California Public Employees Retirement System
The California Public Employees Retirement System (CalPERS) offers a defined benefit retirement plan. It provides benefits based on members’ years of service, age, and final compensation. In addition, benefits are provided for disability death, and payments to survivors or beneficiaries of eligible members. By statute, the California State University (CSU) participates in the CalPERS program. Membership is mandatory for those CSU employees who are eligible.
Retirement Benefits
Service retirement is a lifetime benefit. Employees can retire as early as age 50 with five years of CalPERS pensionable service credit unless all service was earned on or after January 1, 2013, then employees must be at least age 52 to retire. There are some exceptions to the 5-year requirement.
Retiree Health, Dental, and Vision Benefits
Employees who retire from the CSU and meet the criteria listed below will be eligible to enroll in CalPERS retiree medical benefits, CSU retiree dental benefits and CSU voluntary retiree vision benefits if:
- The eligibility criteria for retirement is met; and
- The individual is deemed eligible for medical, dental and vision benefits while an active employee; and
- Retirement occurs within 120 days of separation.
Employees hired by the CSU and who become members of CalPERS on or after the dates below, must have 10 years of service credit with CalPERS to be eligible to enroll in CalPERS retiree medical benefits and CSU retiree dental benefits.
- July 1, 2017 – Faculty (Unit 3)
- July 1, 2018 – Non-represented and all other groups (except Unit 8)
Though it is recommended for employees to begin to plan the steps to retire approximately one year in advance, it is not required. Below are some key steps to help you prepare for retirement, along with information about the required forms that must be submitted to retire.
- Visit the CSYou Retirement Overview
- View the CalPERS Retirement Planning Checklist
- Review the Faculty Early Retirement program (FERP) Summary page (eligible faculty)
- Review Sacramento State Retirement FAQs
- Create/Log-in to your myCalPERS account and run your retirement estimate to get an idea about your future retirement benefits.
- You may wish to Make an Appointment with CalPERS to discuss your retirement options. View a CalPERS Workshop/Webinar online through the CalPERS Member Education Center or view the CalPERS Network Videos. You can also find retirement information online.
- Review Retiree Benefits Information
- Employees can schedule a retirement counseling appointment with their appropriate Benefits Analyst.
Retirement Processing Campus-Wide Assignments
| Retirement Processing Campus Wide Assignments | |||
|---|---|---|---|
| Galina Grigoryan Benefits Analyst (916) 278-3522 |
Benefits Office Benefits Analyst (916) 278-6213 |
Kevin Mackey Benefits Analyst (916) 278-6996 |
Yvonne Ruiz Benefits Analyst (916) 278-5167 |
| ABA •Human Resources CCE College of NS&M |
Academic Affairs ABA •Public Safety •BAS •Risk Management College of HHS College of SSIS IRT Athletics University Library |
College of Ed College of ECS Student Affairs |
ABA •Office of VP •Auditing/Consulting •Budget Planning •Facilities Management •Financial Services College of A&L College of Bus. Division of President University Advancement |
Required Forms
- Notice of Intent to Retire – The Notice of Intent to Retire form serves as your official notice to the University of your intent to separate employment for retirement. The form should be completed and signed by you and your department, and then submitted to the Benefits Office for processing. It is the retiring employee’s responsibility to ensure a completed and signed form is submitted to the Benefits Office in a timely manner and to notify the Benefits Office of any changes. The dates on the Notice of Intent to Retire should match the dates on your CalPERS Service Retirement Election Application.
- Service Retirement Election Application - You can apply for service retirement with CalPERS online, in person, or by mail. You can submit your paper or online application when you are within 120 days from your retirement date.
- To file electronically, log in to myCalPERS. Go to the Retirement tab, select Apply for Retirement, and follow the steps for submitting your application and required documents online to CalPERS. Before starting your online application, it may be helpful to watch the CalPERS webinar that walks you through the online service retirement application.
- For step-by-step instructions on filling out a paper service retirement application, review the CalPERS Service & Disability Retirement website.
- Vacation/Lump Sum Settlement Pay Tax Deferral – See FAQ’s
- Employees requesting to defer vacation/lump sum settlement pay upon retirement should submit the appropriate form to the Benefits Office no later than 30 days prior to their retirement date. Contact the Benefits Office to request the appropriate form.
Benefits - Next Steps
- Upon receipt of your signed Notice of Intent to Retire form, the Benefits Office will send information via e-mail to eligible employees about options to continue dental and vision coverage into retirement.
- If you meet the eligibility requirement for retiree benefits and your separation date and your retirement date are within 30 days of each other and you are enrolled in a CalPERS health plan at the time of retirement, your coverage will continue into retirement without a break.
- Medicare - Eligible employees and/or dependents who are age 65 or older at retirement:
- For a smooth transition from a CalPERS Basic to a CalPERS Medicare health benefits plan, you are encouraged to enroll into Medicare Parts A & B prior to or within 30 days of retirement.
- The Benefits Office will send to you information about Medicare enrollment.
- See General Tips for Working Members Age 65 and Older for additional information.