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In fiscal year 2020–21, CalPERS paid over $27.4 billion in retirement benefits, and over $9.74 billion in health benefits. CalPERS manages the largest public pension fund in the United States, with more than $469 billion in assets under management as of June 30, 2021.
Employees across the spectrum in county government generally contribute less than 10% of gross earnings toward their defined-benefit plans with CalPERS.
CalPERS’ limits on working after retirement, including the new regulation, apply only to jobs with public employers that contract with CalPERS for their retirement benefits.
The California Public Employees’ Retirement System (CalPERS) and the California Teachers’ Retirement System (CalSTRS) are the two largest pension systems in the nation.
Benefits Health care benefits. LACERA provides health insurance plans for its retired members. LACERA covers 100% of healthcare premiums for Los Angeles County retirees who have at least 25 years of public service.
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The California State Teachers' Retirement System (CalSTRS) provides retirement, disability and survivor benefits for California's 965,000 prekindergarten through community college educators and their families.
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