The County of Santa Clara provides retirement benefits to its long-term coded employees. These benefits are determined by a combination of factors including age, length of qualified service, CalPERS member classification (Miscellaneous or Safety), and a contribution rate determined by bargaining unit agreements.
Public Employees' Retirement System - FAQ
What Does The County Contribute?
In most cases the County pays the majority of the employee's and the employer's share. The remainder is paid by employees on a pre-tax basis, and the amount varies and is determined by bargaining unit agreement. For most bargaining units, the County pays and reports 100% of the value of the member's share as special compensation for the purpose of retirement benefit calculations (also known as EPMC - Employer-Paid Member Contributions).
What Are The P.E.R.S. Benefits?
For Miscellaneous CalPERS "classic" employees, the benefit is 2.5% at age 55, while for Safety employees, the benefit is 3% at age 50. For Miscellaneous CalPERS "non-classic" employees (any employee hired into the CalPERS system on or after 1/1/2013), the retirement formula is 2% at age 62, while for Safety "non-classic" employees, the benefit formula is 2.7% at age 57.
CalPERS considers your age, your service years, your benefit level and average hourly pay rate over a 12 month period in determining your monthly retirement benefit. For CalPERS “non-classic” employees, CalPERS considers your age, your service years, your benefit level and average hourly pay rate over a 36 month period in determining your monthly retirement benefit.
For additional questions, either click on the link below to the CalPERS website, or call the CalPERS Member Call Center at 1-888-CAL-PERS (1-888-225-7377).