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CalPERS 1.5% at 65 Retirement Calculator

Local Miscellaneous

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50

Min Age

65

Reference Age

65

Max Factor Age

2%

COLA Cap

Use this free calculator to estimate your 1.5% at 65 retirement benefit under the Local Miscellaneous category. Classic local miscellaneous 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 1.5% at 65 — Frequently Asked Questions

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.
What is a replacement rate?▾
The replacement rate is the percentage of your final compensation that your pension replaces. For example, a 2% benefit factor with 30 years of service gives you a 60% replacement rate, meaning your pension would be 60% of your final compensation.
What are Local Miscellaneous and Local Safety formulas?▾
Local Miscellaneous formulas apply to non-safety employees of cities, counties, and special districts that contract with CalPERS. Local Safety formulas apply to law enforcement, firefighters, and other safety employees of local agencies. Safety formulas typically have higher benefit factors and earlier retirement ages.
Am I in CalSTRS or CalPERS?▾
If you are a certificated K-12 teacher, community college instructor, or certain administrator, you are likely a CalSTRS member. Most other California public employees — including school classified staff, state workers, and city/county employees — are CalPERS members. Some careers (e.g., switching from teaching to administration) may build credit in both systems; reciprocity rules then apply at retirement.
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.

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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