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CalPERS COBRA Election Form for Actives

CalPERS COBRA Election Form for Actives

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Instructions and help about CalPERS COBRA Election Form For Actives

Members often ask, “When’s the best time to retire?” While there’s no one-size-fits-all answer to that question, there are a few things you should consider when choosing a retirement date. Choosing a retirement date is an important decision, and can depend upon a variety of factors. One approach is to determine how much money you’ll need in retirement, and work backward from there – taking into account the three factors that impact your pension: your service credit, benefit factor, and final compensation. Now, Service Credit is your total time spent on the job with CalPERS-covered employers. Of course, the longer you work, the more service credit you’ll earn. But because of the way it’s calculated, 10 months of full-time employment during a fiscal year amounts to one full year of service credit earned. So, if you work full-time, starting in July, you’ll earn one year of service credit by the following April, and won’t earn any more in May or June. Something to consi

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