Updated October 2, 2026. Quick answer: A CalPERS service pension is the benefit factor for your formula and retirement age, multiplied by your years of service credit and by your final compensation. At 2% at 55 for a local miscellaneous member, retiring at 60 with 30 years and $90,000 of final compensation gives 2.262% x 30 = 67.86% (computed) of final compensation, $61,074 a year or $5,090 a month (computed here from Government Code 21354 and equal to CalPERS’s own chart). Enter your own formula, age, service and pay below. The result is the unmodified allowance, before the payment option, service-credit and refund decisions covered further down.
Estimate a Wisconsin Retirement System benefit from age, service and final average earnings: WRS retirement calculator.
Estimate a CalSTRS benefit from age, service credit and final compensation: CalSTRS retirement calculator.
Calculate your CalPERS allowance
CalPERS’s own estimator is the Retirement Estimate Calculator inside myCalPERS, which uses the pay and service your employer has reported. Use it for a real application. This page works from the formula tables in the Government Code, so you can test ages and pay before you log in.
Pick the formula on your CalPERS statement. The age is taken to the preceding completed quarter year, as the statute says: 59 years and 11 months counts as 59 and three quarters. The result runs on this page and sends nothing anywhere. It is an estimate: CalPERS says so itself, “Remember, these are estimates only. Your actual retirement benefit is determined when you apply for retirement.” CalPERS publishes the same factors as benefit factor charts.
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Answer againHow the number is built
Each formula’s section of the Government Code prints a table of fractions of one-fiftieth by age. The statute describes the pension as “the fraction of one-fiftieth of the member’s final compensation set forth opposite the member’s age at retirement, taken to the preceding completed quarter year”, multiplied by the years of service. Multiplying a fraction of one-fiftieth by 2% gives the percentage CalPERS prints in its charts, so 1.131 in the statute is 2.262% in the chart. The new-member formula, section 7522.20, prints percentages directly.
- Find the formula that applies to your classification and employer contract.
- Read the benefit factor for your age at retirement, rounded down to the quarter year.
- Multiply the factor by your years of service credit to get the percent of final compensation.
- Multiply that percent by your final compensation. This is the unmodified allowance, the maximum monthly amount for life.
A worked example: 2% at 55 for a local miscellaneous member, age 60, 30 years, final compensation $90,000. The factor in section 21354 at 60 is 1.131 of one-fiftieth, which is 2.262%. Then 2.262% x 30 = 67.86% (computed), and 67.86% of $90,000 is $61,074 a year, $5,090 a month (computed).
Benefit factors by formula and age
These are the factors the calculator uses, read from the statute tables (fractions of one-fiftieth multiplied by 2%, and section 7522.20 as printed) for each whole age. Every quarter-year value is checked against CalPERS’s own charts. Where a table has no further row, the last factor holds for older ages.
| Age at retirement | 2% at 60 | 2% at 55 (local miscellaneous) | 2% at 55 (state miscellaneous and industrial, school) | 2.5% at 55 (local miscellaneous) | 2.7% at 55 (local miscellaneous) | 3% at 60 (local miscellaneous) | 2% at 62 (PEPRA, new members) |
|---|---|---|---|---|---|---|---|
| 50 | 1.092% | 1.426% | 1.100% | 2.000% | 2.000% | 2.000% | not eligible |
| 51 | 1.156% | 1.522% | 1.280% | 2.100% | 2.140% | 2.100% | not eligible |
| 52 | 1.224% | 1.628% | 1.460% | 2.200% | 2.280% | 2.200% | 1.000% |
| 53 | 1.296% | 1.742% | 1.640% | 2.300% | 2.420% | 2.300% | 1.100% |
| 54 | 1.376% | 1.866% | 1.820% | 2.400% | 2.560% | 2.400% | 1.200% |
| 55 | 1.460% | 2.000% | 2.000% | 2.500% | 2.700% | 2.500% | 1.300% |
| 56 | 1.552% | 2.052% | 2.064% | 2.500% | 2.700% | 2.600% | 1.400% |
| 57 | 1.650% | 2.104% | 2.126% | 2.500% | 2.700% | 2.700% | 1.500% |
| 58 | 1.758% | 2.156% | 2.188% | 2.500% | 2.700% | 2.800% | 1.600% |
| 59 | 1.874% | 2.210% | 2.250% | 2.500% | 2.700% | 2.900% | 1.700% |
| 60 | 2.000% | 2.262% | 2.314% | 2.500% | 2.700% | 3.000% | 1.800% |
| 61 | 2.134% | 2.314% | 2.376% | 2.500% | 2.700% | 3.000% | 1.900% |
| 62 | 2.272% | 2.366% | 2.438% | 2.500% | 2.700% | 3.000% | 2.000% |
| 63 | 2.418% | 2.418% | 2.500% | 2.500% | 2.700% | 3.000% | 2.100% |
| 64 | 2.418% | 2.418% | 2.500% | 2.500% | 2.700% | 3.000% | 2.200% |
| 65 | 2.418% | 2.418% | 2.500% | 2.500% | 2.700% | 3.000% | 2.300% |
| 66 | 2.418% | 2.418% | 2.500% | 2.500% | 2.700% | 3.000% | 2.400% |
| 67 or older | 2.418% | 2.418% | 2.500% | 2.500% | 2.700% | 3.000% | 2.500% |
What 30 years of service is worth at each age
Percent of final compensation for 30 years of service. Each cell is the factor times 30, computed here, and each cell that CalPERS’s service-by-age chart prints for the same age and 30 years agrees with it.
| Formula | Retire at 50 | Retire at 52 | Retire at 55 | Retire at 57 | Retire at 60 | Retire at 62 | Retire at 63 | Retire at 65 |
|---|---|---|---|---|---|---|---|---|
| 2% at 60 | 32.76% (computed) | 36.72% (computed) | 43.80% (computed) | 49.50% (computed) | 60.00% (computed) | 68.16% (computed) | 72.54% (computed) | 72.54% (computed) |
| 2% at 55 (local miscellaneous) | 42.78% (computed) | 48.84% (computed) | 60.00% (computed) | 63.12% (computed) | 67.86% (computed) | 70.98% (computed) | 72.54% (computed) | 72.54% (computed) |
| 2% at 55 (state miscellaneous and industrial, school) | 33.00% (computed) | 43.80% (computed) | 60.00% (computed) | 63.78% (computed) | 69.42% (computed) | 73.14% (computed) | 75.00% (computed) | 75.00% (computed) |
| 2.5% at 55 (local miscellaneous) | 60.00% (computed) | 66.00% (computed) | 75.00% (computed) | 75.00% (computed) | 75.00% (computed) | 75.00% (computed) | 75.00% (computed) | 75.00% (computed) |
| 2.7% at 55 (local miscellaneous) | 60.00% (computed) | 68.40% (computed) | 81.00% (computed) | 81.00% (computed) | 81.00% (computed) | 81.00% (computed) | 81.00% (computed) | 81.00% (computed) |
| 3% at 60 (local miscellaneous) | 60.00% (computed) | 66.00% (computed) | 75.00% (computed) | 81.00% (computed) | 90.00% (computed) | 90.00% (computed) | 90.00% (computed) | 90.00% (computed) |
| 2% at 62 (PEPRA, new members) | not eligible | 30.00% (computed) | 39.00% (computed) | 45.00% (computed) | 54.00% (computed) | 60.00% (computed) | 63.00% (computed) | 69.00% (computed) |
Waiting changes the factor, not just the service. For the 2% at 55 worked example, with 30 years of service and $90,000 of final compensation held constant:
| Retirement age | Benefit factor | Percent of final compensation at 30 years | Unmodified annual allowance on $90,000 | Monthly |
|---|---|---|---|---|
| 55 | 2.000% | 60.00% (computed) | $54,000 (computed) | $4,500 (computed) |
| 57 | 2.104% | 63.12% (computed) | $56,808 (computed) | $4,734 (computed) |
| 60 | 2.262% | 67.86% (computed) | $61,074 (computed) | $5,090 (computed) |
| 62 | 2.366% | 70.98% (computed) | $63,882 (computed) | $5,324 (computed) |
| 63 | 2.418% | 72.54% (computed) | $65,286 (computed) | $5,441 (computed) |
Which formula applies to you
The formula depends on your employer, your classification and when you joined. The statute attaches each table to a category: section 21353 to local miscellaneous, school, state miscellaneous and industrial, and university members; section 21354 to local miscellaneous members; section 21354.1 to school, state miscellaneous and industrial, and university members. A local agency’s richer formula applies only if the agency has contracted for it: “This section shall not apply to a contracting agency nor its employees until the contracting agency elects to make all local miscellaneous members subject to it by amendment to its contract”. The 2% at 62 formula is the one the 2013 reform prescribes for nonsafety members under section 7522.20: “A member may retire for service under this section after five years of service and upon reaching 52 years of age.”
To find yours, CalPERS says: “You can refer to your CalPERS Annual Member Statement to verify your retirement formula.” This page covers the miscellaneous and school formulas above. It does not cover the safety formulas, the 1.25% and 1.5% formulas CalPERS also charts, or the State Second Tier rules.
Final compensation: 12 months or 36
The pay figure is not always your last salary. For many members it is an average: “means the highest annual average compensation earnable by a member during any consecutive 36-month period of employment preceding the effective date of his or her retirement”. A contracting agency can elect the shorter period: “shall be computed under Section 20037 but with the substitution of the period of one year for three consecutive years”. New members use the three-year form, “the highest average annual pensionable compensation earned by the member during a period of at least 36 consecutive months”, and their pensionable compensation is capped: “shall not exceed the following applicable percentage of the contribution and benefit base” (the statute then sets the percentages and an annual inflation adjustment). CalPERS describes it for its estimator this way: “Final compensation is your highest average monthly salary during any consecutive 12- or 36-month period of employment.” This calculator takes the annual figure you enter and does not apply the cap.
Three choices the allowance number does not make
1. The payment option. The figure above is the unmodified allowance. CalPERS describes it this way: “The unmodified allowance provides the highest monthly allowance paid for life.” “Except for the unmodified allowance, all other payment options require a reduction in your retirement income to provide a benefit to someone else.” The choice is made once, on the application: “You must select a payment option when you submit your retirement application.” The statute describes the survivor options plainly. “Optional settlement 2 consists of the right to have a retirement allowance paid to a member until his or her death and thereafter to his or her beneficiary for life.” “Optional settlement 3 consists of the right to have a retirement allowance paid to a member until his or her death, and thereafter to have one-half of his or her retirement allowance paid to his or her beneficiary for life.” The size of each reduction is an actuarial factor that depends on your age and your beneficiary’s, and the sources read for this page publish no table of those factors, so this calculator does not estimate it. Ask CalPERS for the option amounts before you apply. The decision is worked through on the CalPERS decisions page.
2. Buying service credit. Every year you add changes the percent above. CalPERS says purchased credit is counted: “Your retirement benefit estimate will be calculated using any service credit you’ve purchased.” The cost is set by the plan’s actuary: “shall contribute, in accordance with Section 21050, an amount equal to the increase in employer liability”. One purchase option is gone: “As a result of the Public Employees’ Pension Reform Act of 2013 (PEPRA), the Additional Retirement Service Credit (ARSC) is no longer a service credit purchase option.” Whether a particular purchase pays back is on the service credit page.
3. Refund or rollover if you leave. A member who separates can ask for the member contributions back; the statute says the member “shall, upon his or her request, be paid his or her accumulated contributions”. CalPERS lists what that costs: “Taking a refund terminates your CalPERS membership and you forfeit your right to future benefits”, and “A refund is irrevocable; once processed, you’ll be unable to change or cancel the distribution.” The tax route matters too: “Your refund will be taxed as income unless you request a rollover into a qualified tax-deferred retirement account.” Employer contributions are not part of it: “Employer contributions aren’t refundable.” The withholding rule for a lump sum is on the 20 percent withholding page.
Where this calculator stops
The one-third reduction. Several of these sections reduce the factor for members whose service is covered by Social Security. Section 21354 says the fraction “shall be reduced by one-third as applied to that part of final compensation that does not exceed four hundred dollars ($400) per month”, with exceptions for some contracting agencies. This page does not apply it. If it applies to you, on the worked example it takes $1,086 a year (computed: 2.262% x one third x $4,800 of final compensation x 30 years), and your statement is the place to confirm whether you are covered.
Everything else. It does not apply the payment option reduction, sick-leave or educational-leave service credit, reciprocity with another California system, the pay cap, the cost-of-living adjustment or any income tax. Taxes on California pensions are on the California pension tax page. For federal employees the equivalent estimate is on the FERS calculator.
Common mistakes
- Using the formula’s headline age as your age. The factor depends on your exact quarter year, so 59 and three quarters on 2% at 60 is 1.970%, not 2%.
- Entering your last salary when your contract averages 36 months, or the reverse. Final compensation is the highest average, not the final paycheck.
- Reading the unmodified allowance as what you will receive. Any survivor option is a reduction from it.
- Counting service credit you have not paid for. An election to buy credit is effective only if it is accompanied by a lump-sum payment or an authorization for payments (Government Code 21050).
- Taking a refund because the monthly figure looks small. It ends your right to the pension, and it cannot be undone.
Related: CalPERS decisions, public pension decisions by system, buying service credit, California pension tax, and an advisor for a pension decision.
Sources
- California Government Code section 21353 (2% at 60 formula table, California Legislative Information): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 21354 (2% at 55 formula table for local miscellaneous members): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 21354.1 (2% at 55 formula table for school, state miscellaneous and industrial, and university members): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 21354.3 (3% at 60 formula table for local miscellaneous members): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 21354.4 (2.5% at 55 formula table for local miscellaneous members): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 21354.5 (2.7% at 55 formula table for local miscellaneous members): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 7522.20 (PEPRA 2% at 62 formula for nonsafety members): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 7522.10 (PEPRA pensionable compensation limit): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 7522.32 (PEPRA final compensation): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 20037 (final compensation, 36 months): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 20042 (final compensation, one year, by contracting agency election): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 21456 (optional settlement 2): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 21457 (optional settlement 3): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 21052 (cost of additional service credit): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- California Government Code section 20735 (refund of accumulated contributions): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
- CalPERS, Your Retirement Estimate and Payment Options (learning guide, rev. March 2023): https://www.calpers.ca.gov/content/cec/member/webcast_learning_guides/Your_Retirement_Estimate_and_Payment_Options.pdf
- CalPERS, Refund Member Contributions: https://www.calpers.ca.gov/members/retirement-benefits/refund-member-contributions
- CalPERS, Service Credit (Time Worked): https://www.calpers.ca.gov/members/retirement-benefits/service-credit
- CalPERS, Benefit Factor Charts: https://www.calpers.ca.gov/members/retirement-benefits/benefit-factor-charts
- CalPERS, Retirement Estimate Calculator (inside myCalPERS): https://www3.calpers.ca.gov/a/active-members/retirement-benefits/service-disability-retirement/retirement-estimate-calculator
- CalPERS, Retirement Formulas and Benefit Factors, Local Miscellaneous Members, 2% at 60 (chart PDF): https://www.calpers.ca.gov/documents/local-miscellaneous-member-2-at-60-benefit-factors-pdf/download (section page)
- California Government Code section 21050 (payment for additional service credit): https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml (section page)
Read from the California Government Code sections and the CalPERS pages and charts linked above on October 2, 2026. General information, not legal or tax advice. Your own facts decide the outcome, and CalPERS, your employer’s retirement office or a benefits advisor is the right place to confirm anything consequential.