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retirement formula 2% at 60. The chart below shows how the benefit factor increases for each quarter year of age from 50 to 63. The chart on the next page shows the percentage of final compensation you will receive. 2% at 60 Retirement Formula — Minimum retirement age is 50 years
12 Δεκ 2022 · To see your benefit factor for each quarter year of age, choose your retirement formula below. Each PDF includes two charts. The first chart shows how the benefit factor increases for each quarter year of age. The second chart shows the percentage of final compensation you will receive.
Log in to your myCalPERS account at my.calpers.ca.gov for information on determining which formula applies to you. You can refer to your CalPERS Annual Member Statement to verify your retirement formula. If you have questions, call us at 888 CalPERS (or 888-225-7377).
Once you know your retirement formula, go to our Benefit Factor Charts webpage to select the chart for your formula (you can view, print, or save your PDF document). You’ll see how your benefit factor increases for each quarter year of age, and the percentage of final compensation you will receive.
The answer is always, “Let’s run an estimate and find out.”. Since you’re basing life decisions on these numbers, it’s a good idea to use the myCalPERS Retirement Estimate Calculator, which will give estimates based on your specific information. Log in to your myCalPERS account to get started.
Retirement. CalPERS Retirement Formulas. Your benefit factor is the percentage of pay to which you are entitled for each year of service. It’s determined by your age at retirement and the retirement formula based on your membership date with each employer.
RETIREMENT FORMULAS AND BENEFIT FACTORS. The chart below shows how the benefit factor increases for each quarter year of age from 52 to 67. 2% at Age 62 Benefit Formula. Minimum Age for Retirement 52 Membership Date on or After January 1, 2013. Age.
