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CalPERS 1.25% at 65 Retirement Calculator

State Miscellaneous & Industrial

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50

Min Age

65

Reference Age

65

Max Factor Age

2%

COLA Cap

Use this free calculator to estimate your 1.25% at 65 retirement benefit under the State Miscellaneous & Industrial category. Classic state miscellaneous & industrial members (older formula). This formula applies to classic members. Enter your planned retirement age, years of service, and final compensation below for an instant estimate with a full calculation breakdown.
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CalPERS 1.25% at 65 — Frequently Asked Questions

How does the 2% COLA cap affect my pension over 20 to 30 years?▾
If long-run inflation runs at 3% but your COLA is capped at 2%, your real purchasing power falls by about 1% per year. Over 20 years that compounds to roughly 18% of lost purchasing power; over 30 years, roughly 26%. The COLA projection chart on this site shows the exact spread between nominal and inflation-adjusted dollars for your specific starting benefit.
Can I retire before the minimum retirement age?▾
Not for service retirement. If you separate from CalPERS-covered employment before reaching your formula's minimum retirement age, you can leave your contributions on deposit and begin drawing your pension once you reach the minimum age. Disability retirement has different rules. Service retirement requires at least 5 years of credit and reaching your formula's minimum age.
How do I find out which CalPERS formula I have?▾
Your formula is determined by your employer, your job classification (miscellaneous, safety, etc.), and your hire date. Check your myCalPERS account, your most recent annual statement, your employer's retirement contract with CalPERS, or contact your HR/benefits office. The formula name will look like '2% at 55' or '2.7% at 57' followed by a category like State Miscellaneous or Local Safety.
What is the minimum retirement age?▾
The minimum retirement age varies by formula. Most PEPRA formulas allow retirement at age 52, while classic formulas may allow retirement as early as age 50. Your benefit factor at the minimum age is typically much lower than at the reference age.
Is final compensation my last paycheck or an average?▾
It is an average. Classic CalPERS members use the average of their highest 12 consecutive months of compensation. PEPRA members use the average of their highest 36 consecutive months. The highest period does not have to be the final period — it is the highest qualifying span anywhere in your career.

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Disclaimer: This calculator provides estimates for informational and educational purposes only. It is not financial, tax, or legal advice. All formulas are sourced from publicly available CalPERS documents. Formula factors verified against official CalPERS benefit factor tables. Last verified: 2026-05-26. View official source PDF