Calpers retires

[PERSonalTime]

Are there any retirees out that retired from the CalPers system? If there are, what was your experience the application process, getting your first check, etc. It seems like it can be a pretty interesting experience.

 

[Sanbenito1]

I just retired from Calpers. The process was fairly easy once I had the retirement booklet with all the info/forms. I picked one up at a pre-retirement class that I signed up for, but you can also go online and request that they send one, or you may be able to print one out. I turned in my paperwork at a Calpers office the week before Xmas and a man went through it all with me to ensure it was correct. I foolishly did not make an appointment but luckily there was no line so the whole review/submittal process took about 20 minutes. My first day of retirement was Dec 31, 2013 - so not a lot of notice, but since that time Calpers has been good about mailing me updates/info. According to one letter my first check should arrive late Feb or early March (I forget which) so considering the holiday closures it will have taken them about 2 months to get a check to me. Had I given more notice and turned my paperwork in earlier a check could have been waiting for me. I strongly suggest attending a pre-retirement class and getting all your questions answered by the pros.

 

[PERSonalTime]

Thanks for the response. Is there a reason for submitting the application so close to the retirement date?

 

[Sanbenito1]

Thanks for the response. Is there a reason for submitting the application so close to the retirement date?

Yes, I have been a caretaker for my father for many years, on top of being a high level manager with all the headaches that entails. Another manager had unexpected medical issues that required me to step in. I knew that the additional workload, plus dad-care would push me over the edge. I had been starting to experience some stress-related health issues from the workload and decided I didn't want to destroy my health for an organization that hasn't given a cola since 2007. I had pre-planned going to Calpers retirement seminars and 'running the numbers' in advance. The 2-weeks notice was because I was waiting to hear if we'd get a cola for that year or not. When I heard 'not', I gave notice. I already have part-time job offers from other employers so it made fiscal sense, too. Still deciding if I want to work though- retirement is pretty nice, I don't need the money or the stress and summer is on the way...

 

[PERSonalTime]

Yep, I've had some similar parental issues that I've been able to attend to. Retirement is a good thing!