The California Public Employees’ Retirement System (CalPERS) and 37 Act Counties offers a 3% at 50 retirement benefit plan for local safety members. A number of agencies have already contracted to provide this plan. Because of the substantial benefits associated with 3% @ 50, this page was developed to act as an informational resource on this plan by providing a formula on how to calculate an individual’s final compensation, and displaying a graph listing the final percentage of compensation depending upon years of service and age at retirement.
We will be keeping viewers of this page updated throughout the year on the names of the agencies that have included this benefit for their members. These names will be updated as agencies are added. Listed below is a list of the agencies who currently have the 3% @ 50 retirement benefit for their members:
TOTAL:
251 agencies with 3% @ 50.
| Alameda |
Belmont |
Carmel |
Covina |
|
| Alhambra |
Benicia |
Ceres |
Culver City |
|
| Alpine County |
Berkeley |
Chico |
Cypress |
|
| Amador County |
Beverly Hills |
Chino |
Davis |
|
| Anaheim |
Bishop |
Chula Vista |
Dos Palos |
|
| Angels Camp |
Blythe |
Claremont |
Downey |
|
| Antioch |
Brawley |
Clear Lake |
East Bay Regional Parks |
|
| Arcadia |
Brea |
Cloverdale |
El Cajon |
|
| Arcata |
Brentwood |
Clovis |
El Cerrito |
|
| Atherton |
Buena Park |
Cocton |
El Dorado County |
|
| Auburn |
Burbank |
Colusa County |
El Monte |
|
| Azusa |
Butte County |
Concord |
El Segundo |
|
| Bakersfield |
Calaveras County |
Contra Costa County |
Escalon |
|
| Banning |
California City |
Corning |
Escondido |
|
| Barstow |
CA State University Police |
Corona |
Eureka |
|
| BART |
Campbell |
Coronado |
|
|
| Beaumont |
Capitola |
Costa Mesa |
|
|
| Bell |
Carlsbad |
Cotati |
|
|
| |
|
|
|
|
| Fairfield |
Gridley |
Irwindale |
Los Gatos |
|
| Fairf ax |
Half Moon Bay |
Jackson |
Madera |
|
| Folsom |
Hawthorne |
Kensington |
Mammoth Lakes |
|
| Fontana |
Hayward |
Kern County |
Manhattan Beach |
|
| Fontana City Schools |
Healdsburg |
La Habra |
Manteca |
|
| Fortuna |
Hermosa Beach |
La Mesa |
Marin County |
|
| Foster City |
Hillsborough |
LaVerne |
Marina |
|
| Fountain Valley |
Hollister |
Lincoln |
Mariposa County |
|
| Fremont |
Humboldt County |
Livermore |
Marysville |
|
| Fullerton |
Huntington Beach |
Lodi |
Menlo Park |
|
| Garden Grove |
Huntington Park |
Lompoc |
Merced |
|
| Gardena |
Imperial County |
Long Beach |
Milpitas |
|
| Gilroy |
Indio |
Los Alamitos |
Modesto |
|
| Glendale |
Inglewood |
Los Altos |
Modoc County |
|
| Glenn County |
Inyo County |
Los Angeles City Schools |
|
|
| Grass Valley |
Irvine |
Los Banos |
|
|
| |
|
|
|
|
| Mono County |
National City |
Oxnard |
Pleasanton |
|
| Monrovia |
Nevada City |
Pacific Grove |
Pomona |
|
| Montebello |
Nevada County |
Palm Springs |
Redding |
|
| Monterey |
Newark |
Palo Alto |
Redlands |
|
| Monterey County |
Newman |
Palos Verdes Estates |
Redondo Beach |
|
| Monterey County Probation |
Newport Beach |
Paradise |
Redwood City |
|
| Monterey Peninsula Airport, |
Oakland |
Petaluma |
Richmond |
|
| Morgan Hill |
Oceanside |
Piedmont |
Riverside |
|
| Morro Bay |
Ontario |
Pittsburg |
Riverside County |
|
| Mountain View |
Orange |
Placentia |
Rocklin |
|
| Murrieta |
Orange County |
Placer County |
Rohnert Park |
| Napa |
Orange County Probation |
Placerville |
Roseville |
| Napa County |
Orland |
Pleasant Hill |
|
| |
|
|
|
| Sacramento |
San Mateo County |
Siskiyou County |
Union City |
| Sacramento County |
Santa Ana |
Sonoma |
University of California Police |
| Salinas |
Santa Ana School |
Sonoma County |
Vacaville |
| San Anselmo |
Santa Barbara |
Sonora |
Vallejo |
| San Bernardino County |
Santa Barbara
County |
South Gate |
Ventura |
| San Bruno |
Santa Clara |
South Lake Tahoe |
Visalia |
| San Carlos |
Santa Clara County |
St.
Helena |
Walnut Creek |
| San Diego |
Santa Cruz |
Stanislaus County |
Watsonville |
| San Diego City Schools |
Santa Cruz County |
Stockton |
West Covina |
| San Diego County |
Santa Maria |
Suisun City |
Westminster |
| San Diego Harbor |
Santa Monica |
Sunnyvale |
Whittier |
| San Fernando, |
Santa Paula |
Susanville |
Williams |
| San Gabriel |
Santa Rosa |
Sutter Creek |
Willows |
| San Joaquin County |
Scotts Valley |
Torrance |
Yuba City |
| San Leandro |
Seal Beach |
Tracy |
|
| San Luis Obispo |
Seaside |
Truckee |
|
| San Luis Obispo
County |
Sebastopol |
Tuolumne County |
|
| San Marino |
Shasta County |
Turlock |
|
| San Mateo |
Signal Hill |
Ukiah |
|
Requirements
The 3 % @ 50 benefit is a negotiated benefit for all agencies who are currently contracted with CalPERS. Safety members must have at least five years of service to be eligible for this retirement plan. There is no minimum age requirement for local safety members. There are some exceptions to the five-year requirement. Your regional CalPERS office can tell you if you qualify for this exception.
Estimating Retirement Allowance
Retirement allowances are estimated based upon years of service credit, a benefit factor and final compensation. Your CalPERS Annual Member Statement contains your current service credit. Additional credit can then be added depending upon a projection of your final retirement date.
The benefit factor is the percent of pay you are entitled for each year of service. Under this plan, the percentage of pay to which you are entitled cannot exceed 90 percent of your final compensation.
Final compensation is your average monthly pay rate for the last employment period of either 36 months or 12 months, depending upon your employer’s contract with CalPERS.
Example
If you will be retiring at age 50 with 18.5 years of service, your percent of final compensation might look like this:
|
18.5 |
x |
3% |
= |
55.5% |
|
Years of Service |
|
Percent per year
Based upon age
at Retirement
(see table below) |
|
Percent of final
Compensation |
NOTE: Peace officers can now obtain a maximum benefit of 90%.
Age |
50 |
51 |
52 |
53 |
54 |
55+ |
Benefit Factor |
3% |
3% |
3% |
3% |
3% |
3% |
Years of Service |
5 |
15% |
15% |
15% |
15% |
15% |
15% |
6 |
18% |
18% |
18% |
18% |
18% |
18% |
7 |
21% |
21% |
21% |
21% |
21% |
21% |
8 |
24% |
24% |
24% |
24% |
24% |
24% |
9 |
27% |
27% |
27% |
27% |
27% |
27% |
10 |
30% |
30% |
30% |
30% |
30% |
30% |
11 |
33% |
33% |
33% |
33% |
33% |
33% |
12 |
36% |
36% |
36% |
36% |
36% |
36% |
13 |
39% |
39% |
39% |
39% |
39% |
39% |
14 |
42% |
42% |
42% |
42% |
42% |
42% |
15 |
45% |
45% |
45% |
45% |
45% |
45% |
16 |
48% |
48% |
48% |
48% |
48% |
48% |
17 |
51% |
51% |
51% |
51% |
51% |
51% |
18 |
54% |
54% |
54% |
54% |
54% |
54% |
19 |
57% |
57% |
57% |
57% |
57% |
57% |
20 |
60% |
60% |
60% |
60% |
60% |
60% |
21 |
63% |
63% |
63% |
63% |
63% |
63% |
22 |
66% |
66% |
66% |
66% |
66% |
66% |
23 |
69% |
69% |
69% |
69% |
69% |
69% |
24 |
72% |
72% |
72% |
72% |
72% |
72% |
25 |
75% |
75% |
75% |
75% |
75% |
75% |
26 |
78% |
78% |
78% |
78% |
78% |
78% |
27 |
81% |
81% |
81% |
81% |
81% |
81% |
28 |
84% |
84% |
84% |
84% |
84% |
84% |
29 |
87% |
87% |
87% |
87% |
87% |
87% |
30+ |
90%max |
90%max |
90%max |
90%max |
90%max |
90%max |
There are exceptions to the general guidelines outlined above. Please contact your regional CalPERS office or contact CalPERS Retirement Program Services at 800-352-2238 for more detailed information.
