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CalPERS Retirement at Age 67

Which formulas qualify and what your benefit factor looks like

✓Official benefit factor tables · Free instant estimates

67

Age

4

Formulas qualifying

1

At reference age

2.500%

Highest factor

Planning to retire at 67? Your monthly CalPERS pension depends almost entirely on three things: your formula, your years of service, and the benefit factor your formula assigns at age 67. We've pulled the official benefit factor tables for every CalPERS formula and listed the 4 that support retirement at this age. Use the comparison table to see which formulas are at full benefit at 67 and which are still ramping up.

Benefit Factor at Age 67 — All CalPERS Formulas That Qualify

Each row shows the official benefit factor that the formula assigns at age 67. "At reference" means the formula has already reached its full benefit factor at this age; the negative percentages show the early-retirement shortfall vs the formula's own reference age. Click any formula name to open its full calculator pre-set to age 67.

FormulaFactor at 67vs Reference
2% at 62PEPRA2.500%—
2% at 62PEPRA2.500%—
2% at 62PEPRA2.500%—
1.25% at 67Classic1.250%At reference

Calculator — pre-set to age 67

Calculator below loads the 2% at 62 (State Miscellaneous & Industrial) formula at age 67. Change the formula by visiting any of the formula calculators linked in the comparison table above.

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Retiring at 67 — Frequently Asked Questions

When can I retire from CalPERS?▾
You can retire when you reach the minimum retirement age for your formula and have at least 5 years of service credit. However, retiring at the minimum age typically gives you a much lower benefit factor. The benefit factor increases as you approach and reach your formula's reference age.
Is my information stored or shared?▾
No. All calculations happen entirely in your browser. No personal information — including your salary, age, or pension estimate — is sent to any server, stored, or shared. This calculator is completely private and requires no login.
What is final compensation?▾
Final compensation is the average of your highest salary over a specific period, typically your highest 12 or 36 consecutive months depending on your formula. PEPRA members use a 36-month average; classic members typically use a 12-month average.
How accurate is this calculator?▾
This calculator uses the official benefit factor tables published by CalPERS and CalSTRS. The benefit factor lookup is verified against official PDF documents. However, your actual pension may differ due to factors not included in this estimate, such as exact survivor actuarial reductions, reciprocity, disability retirement, or employer-specific rules. For an official estimate, log in to myCalPERS or contact your retirement system.
What is service credit?▾
Service credit is the years (and partial years) you have worked under a CalPERS or CalSTRS covered position. One year of full-time employment equals one year of service credit. Part-time employees earn proportional service credit.
What is a replacement rate?▾
The replacement rate is the percentage of your final compensation that your pension replaces. For example, a 2% benefit factor with 30 years of service gives you a 60% replacement rate, meaning your pension would be 60% of your final compensation.

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Disclaimer: Estimates only. Benefit factors are sourced from official CalPERS publications. Actual benefits depend on your formula, exact retirement date, survivor option, and employer-specific rules. Verify with CalPERS before retirement decisions.