If You’re Laid Off

• CalPERS pension (Updated 6-10-03)

If you're laid off, you can leave your CalPERS funds on deposit, which means you'll still be eligible for retirement benefits as long as you meet the age and service requirements when you retire. (Another option available to you if you meet the age and service requirements is retirement.) Review the CalPERS Web site for more information on retirement benefits, or contact your local CalPERS office.

If you're laid off, you also have the option to withdraw your CalPERS contributions and thereby forego your retirement benefits. When making your decision, be sure to consider the tax consequences for the year in which you take the payment, potential future costs to buy back your service credit, and potential loss of retirement income. Check with CalPERS or your personnel office for details.