CalPERS Age Factor Table: How Your Retirement Benefit Factor Works

What the Age Factor Is

Your CalPERS retirement benefit is calculated with three numbers:

Service Credit × Age Factor × Final Monthly Compensation = Monthly Allowance

The age factor (also called the benefit factor) is a percentage that determines how much of your final compensation each year of service credit replaces. It increases as you age, up to a cap that varies by formula. Retiring even one quarter earlier or later changes this factor, so understanding the table matters for timing your retirement date.

Your formula — 2% at 55, 2% at 60, 2% at 62, 3% at 50, or another variant — tells you two things: the benefit factor at the formula's named age, and the structure that applies. The named age is not the earliest you can retire; it is the age at which the factor reaches the percentage in the name.

Classic 2% at 55 (State Miscellaneous)

This is the standard formula for Classic state miscellaneous and industrial members. Key points on the table:

• Age 55: 2.000%

CalPERS age factors increase in quarterly increments, but the exact factor at other ages depends on your formula. Check your myCalPERS retirement estimate for the value that applies to your retirement date.

With 30 years of service and a 2.000% factor at age 55, the monthly allowance is 60% of final monthly compensation.

Classic 2% at 60

Common among some local government miscellaneous contracts:

• Age 60: 2.000%

Check your myCalPERS estimate for the factor that applies at your planned retirement age.

PEPRA 2% at 62 (Miscellaneous)

The standard formula for all PEPRA miscellaneous members (hired on or after January 1, 2013, without qualifying reciprocal Classic service):

• Age 52: 1.000%
• Age 62: 2.000%
• Age 67 and beyond: 2.500% (cap)

The PEPRA miscellaneous factor starts lower, reaches 2.000% at age 62, and caps at 2.500% at age 67. Use your myCalPERS estimate to check the factor for an age between those milestones.

Classic Safety 3% at 50

The enhanced safety formula used by most local police and fire departments for Classic members:

• Age 50: 3.000%

With this formula, the age factor is straightforward. A Classic safety member retiring at 50 with 25 years of service receives 75% of final compensation. Additional years of service still increase the total benefit.

PEPRA Safety 2.7% at 57

The standard PEPRA safety formula:

• Age 57: 2.700%

With 25 years of service and a 2.700% factor at age 57, the monthly allowance is 67.5% of final compensation.

How Quarterly Increments Work

CalPERS age factors increase in quarterly steps. Compare myCalPERS estimates for the retirement dates you are considering to see the applicable step dates and factor values.

This quarterly structure is why retirement date optimization matters. Compare estimates for dates around a factor step to see whether moving your retirement date changes your benefit.

Checking Your Factor

Your myCalPERS retirement estimate shows the exact age factor used in the calculation. If you generate estimates for multiple retirement dates, you will see the factor change at each quarterly boundary.

The CalPERS Service Retirement Guide includes a Benefit Estimate Worksheet that maps your specific formula to the age factor at your planned retirement date, so you can verify the number CalPERS is using and understand how much it changes at each quarterly step.

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