Retirement Programs

 

Prior to retirement, employees should notify their qualifying retirement program below (if applicable) and complete the separation and property clearance process. 

 

CalPERS Retirement Program

 

CalPERS is a defined benefit plan which provides a retirement benefit based on the employee’s applicable retirement formula, age at retirement, years of service credit, and compensation. By statute, the California State University (CSU) participates in the CalPERS program. Membership is mandatory for eligible employees. Retirement program eligibility is based on appointment type, duration, full-time equivalency (FTE) and previous public agency or reciprocal agency employment. Retirement formulas vary based on the member’s occupation and their CalPERS membership date.

Please visit the CSYou website to learn more about the CalPERS retirement benefits. For the most current and detailed information, employees can visit the CalPERS website or call CalPERS at (888) 225-7377. Members may log into MyCalPERS to manage their account online.  To register please visit Using MyCalPERS .

 

Additional information is available at the CalPERS Education Center .

 

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Part Time, Seasonal, and Temporary Employees Retirement Program

 

The Part-time, Seasonal, and Temporary Employees Retirement Program (PST) is a mandatory retirement savings program authorized by federal law for employees who are not covered by a retirement system or Social Security. Savings Plus, part of the California Department of Human Resources, administers the PST Program.

If you are a CSU employee who is not covered by Social Security and you are excluded from coverage under CalPERS, you are automatically enrolled in the PST Program. The program deducts 7.5% of your wages and deposits it in an account for you, allowing you to build retirement savings. It is set up as a 457(b) Plan, a type of retirement savings plan governed by IRS rules.

 

Additional Information:

• CSYou website for Part-Time Retirement Program

• Savings Plus/PST website

  • Savings Plus Customer Service Phone Number: (855) 616-4776. You can also register online to access your account information.