Get Circular Letter #600-034-10: Calpers & Health Care Reform - Ca.gov

Annually in, CalPERS will issue a Circular Letter to all CalPERS employers informing them of the annual limits for that year. The Social Security Participant status also defines the annual limit. The compensation limit for classic members for the 2023 calendar year is $330,000.

Spouses, registered domestic partners, natural born children, adopted children, stepchildren, and children of registered domestic partners. Note: Parent-child relationships and overage disabled dependents have their own recertification process.

Age 62 is referred to as your “normal retirement age .” Local miscellaneous members receive one of six retirement formulas, with varying retirement ages and final compensation percentages . Most miscellaneous members hired after January 1, 2013, receive the 2% at 62 formula .

Eligible children are defined as natural, adopted, step, or domestic partner's children up to the age of 26. Who is not eligible? Under the Act, the spouse or children of your adult children are not eligible for dependent coverage. When can I enroll my dependent?

Your qualifying person is your birth child, stepchild, adopted child, or eligible foster child. You paid more than one-half the cost of keeping up your home for the year. Your home was the main home for you and your birth child, stepchild, adopted child, or eligible foster child for more than half the year.

CalPERS is a defined benefit plan funded by employee contributions, employer contributions, and earnings made on CalPERS investments . Most employees contribute a percentage of their salary, which accrues interest under their individual CalPERS account .

Dependent child eligibility change Dependent eligibility requirements are being modified to include coverage for eligible dependent children up to age 26 regardless of marital, residency or student status or financial dependency.

If your employer's plan offers coverage for dependent children, your child can stay on your plan until age 26.