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PERT Glossary of Terms - CalPERS On-Line - calpers ca

PERT Glossary of Terms - CalPERS On-Line - calpers ca 2025

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The document is a glossary of terms related to the Public Employees' Retirement System (CalPERS) and its new my|CalPERS system. It defines various terms and concepts used in the context of enrollment, payroll contributions, and health benefits administration for public agencies, employers, and participants. Key topics include automated systems, data elements, reporting methods, eligibility criteria, and training sessions for employers.

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What is the CalPERS 1000 hour rule?

Part-time or intermittent employment exceeding 125 days (if paid on a per diem basis) or 1,000 hours within a fiscal year is covered by CalPERS retirement membership effective the beginning of the first pay period following the completion of 125 days or 1,000 hours of service. ( Government Code 20305(3)(B))

How does CalPERS 2% at 62 work?

If your retirement formula is 2% at 62, for example, this means you get 2% of your pay if you retire at age 62 . Age 62 is referred to as your normal retirement age . receive one of five retirement formulas . Most state members hired after January 1, 2013, receive the 2% at 62 formula .

How many hours can you work a week after you retire?

You can continue to work as long as you want, and you can still collect Social Security benefits. However, you should be aware that continuing to work after claiming Social Security benefits could reduce the amount that you receive, particularly if you have not yet reached full retirement age.

What is the 960 hour limit for CalPERS?

A retiree can not work more than 960 hours in a fiscal year (July 1-June 30) among all CalPERS covered employment. The compensation for the retiree appointment cannot exceed the maximum monthly base salary paid to other employees performing comparable duties as listed on a publicly available pay schedule.

What is the 5 year rule for CalPERS?

The benefit factor changes for every quarter year of age based on the retirement formula . If your retirement formula is 2% at 62, for example, this means you get 2% of your pay if you retire at age 62 . Age 62 is referred to as your normal retirement age .

What is the average CalPERS monthly pension?

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 .

What is the 960 rule for CalPERS?

960-Hour Limit The hours you work cannot exceed 960 hours in a fiscal year (July 1 through June 30) for employment with all CalPERS employers combined . There are no exceptions to this limit.

PERT Glossary of Terms - CalPERS On-Line - calpers ca 2025

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