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For self-employed workers, setting up a retirement plan is a do-it-yourself job. There are four available plans tailored for the self-employed: one-participant 401(k), SEP IRA, SIMPLE IRA, and Keogh plan. Health savings plans (HSAs) and traditional and Roth IRAs are supplemental options.
CalPERS offers a defined benefit plan where retirement benefits are based on a formula, rather than contributions and earnings to a savings plan. Retirement benefits are calculated based on a members years of service credit, age at retirement, and final compensation (average salary for a defined period of employment).
Additional Contribution Retirement Information With the exception of members in the 2% at 62 formula (minimum retirement age is fifty-two (52), employees are eligible to retire and receive a monthly pension benefit when they are at least age 50 and have a minimum of five years of CalPERS-credited service.
To be eligible for service retirement, you must have at least five years of CalPERS-credited service and be at least age 50, 52, or 55 depending on your retirement formula . If you have a combination of classic and PEPRA service, you may be eligible to retire at age 50 . (See page 12 for more about PEPRA .)
Preparing to Retire from CSU To be considered a retiree an employee who is in the DCP or who is a participant in Colorado PERA appointed or reappointed on or after July 1, 2005 must be: Age 55 or greater with at least 20 years of service or. Age 60 or greater with at least 5 years of service

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The plan is a defined benefit plan with retirement benefits calculated on age at retirement, years of service, and compensation. Both the CSU and the employee contribute to the employees CalPERS Retirement Plan.
A VERA allows an employee to opt to retire before meeting the normal age and years of service requirements. A VSIP is a lump-sum payment made to eligible employees who voluntarily separate through resignation, optional retirement, or early retirement.
The Universitys 403(b) Retirement Program helps you meet your retirement goals in two ways: By providing a base of financial security through the Direct Contribution that the University makes on your behalf, and.

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