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CalPERS Retirement at Age 60

Which formulas qualify and what your benefit factor looks like

✓Official benefit factor tables · Free instant estimates

60

Age

13

Formulas qualifying

4

At reference age

3.000%

Highest factor

When you choose to retire at 60, your CalPERS formula determines whether you're walking away with the maximum benefit factor or leaving money on the table by retiring early. Below, we compare the benefit factor that each of the 13 qualifying formulas assigns at age 60, then load that age into the calculator so you can see the dollar impact for your specific salary and service.

Benefit Factor at Age 60 — All CalPERS Formulas That Qualify

Each row shows the official benefit factor that the formula assigns at age 60. "At reference" means the formula has already reached its full benefit factor at this age; the negative percentages show the early-retirement shortfall vs the formula's own reference age. Click any formula name to open its full calculator pre-set to age 60.

FormulaFactor at 60vs Reference
3% at 60Classic3.000%At reference
2.5% at 60Classic2.500%At reference
2% at 55Classic2.314%—
2% at 55Classic2.314%—
2% at 55Classic2.262%—
2% at 60Classic2.000%At reference
2% at 60Classic2.000%At reference
2% at 62PEPRA1.800%−10.0% vs ref
2% at 62PEPRA1.800%−10.0% vs ref
2% at 62PEPRA1.800%−10.0% vs ref
1.5% at 65Classic1.167%−22.2% vs ref
1.25% at 65Classic1.000%−20.0% vs ref
1.25% at 67Classic0.970%−22.4% vs ref

Calculator — pre-set to age 60

Calculator below loads the 2% at 55 (State Miscellaneous & Industrial) formula at age 60. Change the formula by visiting any of the formula calculators linked in the comparison table above.

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Retiring at 60 — Frequently Asked Questions

What are the survivor benefit options?▾
CalPERS offers four retirement options: Unmodified (no survivor benefit, highest monthly payment), 100% Survivor (your beneficiary receives the same monthly benefit after your death), 75% Survivor, and 50% Survivor. Choosing a survivor option reduces your monthly pension. The reduction depends on your age and your beneficiary's age at retirement.
What is service credit?▾
Service credit is the years (and partial years) you have worked under a CalPERS or CalSTRS covered position. One year of full-time employment equals one year of service credit. Part-time employees earn proportional service credit.
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.
How accurate is this calculator?▾
This calculator uses the official benefit factor tables published by CalPERS and CalSTRS. The benefit factor lookup is verified against official PDF documents. However, your actual pension may differ due to factors not included in this estimate, such as exact survivor actuarial reductions, reciprocity, disability retirement, or employer-specific rules. For an official estimate, log in to myCalPERS or contact your retirement system.
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.
When can I retire from CalPERS?▾
You can retire when you reach the minimum retirement age for your formula and have at least 5 years of service credit. However, retiring at the minimum age typically gives you a much lower benefit factor. The benefit factor increases as you approach and reach your formula's reference age.

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CalPERS Calculator Hub

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Disclaimer: Estimates only. Benefit factors are sourced from official CalPERS publications. Actual benefits depend on your formula, exact retirement date, survivor option, and employer-specific rules. Verify with CalPERS before retirement decisions.