The California Public Employees Retirement System (CalPERS) is the defined benefit retirement system in which CSU Monterey Bay participates. CalPERS is coordinated with Social Security and membership is mandatory for those persons employed full time for more than six months or part-time (50 percent or more) for one year. Active CalPERS members who are hired at CSUMB automatically contribute to CalPERS regardless of the nature of their employment. Temporary faculty are required to enter CalPERS membership commencing with the third consecutive semester of appointment at half time or more.
CalPERS is considered one of the biggest and most stable pension funds in the country. CSU employees are generally covered by the CalPERS state, first tier, 2 % @ 55 program. Public safety officers are generally covered by the 3 % @ 55 program. Based on your actual hire date, you may be covered under a different retirement formula than stated above. For additional information please reference the chart below or contact University Personnel/Benefits.