The majority of SJSU employees retire from the California Public Employees’ Retirement System (CalPERS). CalPERS is a defined-benefit retirement and plan and is coordinated with Social Security. Retirement benefits are calculated using a defined formula (years of service credit, age at retirement, and final compensation are used) rather than contributions and earnings to a savings plan.
The majority of employees are eligible (if they retire with ten years of service) for retiree:
- Health benefits
- Dental benefits
- Vision benefits*
*Some employees may not be eligible.
In addition to CalPERS, we also partner with Savings Plus and Fidelity for savings plans such as:
See Retirement Programs for more information.
Faculty are eligible for two additional retirement programs:
- Pre-Retirement Time Base Reduction - Allows eligible faculty to work less than full time while still earning full service credit toward retirement for up to five years prior to retiring.
- Faculty Early Retirement Program - Allows tenured faculty who are eligible for service retirement to retire and continue teaching for a maximum time-base and duration (currently 50% and 5 years).
See Faculty Retirement Programs for details.