Premiums and Rates
Classic Member Contributions
CalPERS uses contributions of the employer and the employee and income from investments to pay for employee retirement benefits. Employee and the employer contributions are a percentage of applicable employee compensation.
The employer contribution is set annually by CalPERS based on annual actuarial valuations. The employee contribution is 5% of salary for Miscellaneous Tier 1 members and 8% for Peace Officer/Firefighter members less an exclusion allowance for coordination with Social Security.
PEPRA Member Contributions
The employer contribution is set annually by CalPERS based on annual actuarial valuations. The employee contributions can vary by fiscal year for all Plans and are set by CalPERS and subject to provisions of the California Public Employees' Pension Reform Act of 2013.