Lecturers qualify for CalPERS retirement at the beginning of their third consecutive semester at half-time or greater.
Membership is mandatory once an employee qualifies.
CalPERS, a defined benefit plan, is the largest pension fund in this country and third largest in the world. The amount of an employee's contributions, and the interest earned, is shown on their CalPERS Annual Member Statement. The California State University, as an employer, contributes a substantial amount each month on the employee's behalf. The employer contribution amount is not shown on the employee's statement as it is placed in a separate account. CalPERS uses the employee's contributions and those of the employer, as well as income from investments, to pay for the employee's life-time retirement benefits.