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0 <br />CALPERS RETIREMENT PLANS <br />■ Most Cities provide retirement benefits through California Public Employees <br />Retirement System (CaIPERS) <br />CaIPERS administers DEFINED BENEFIT retirement plans for State <br />employees as well as contracting local agencies (city, county, districts) <br />Alternative Retirement Plan options available to employers <br />Miscellaneous PublicSafety <br />2.0% at 60 <br />2.0% at 55 2.0% at 55 <br />2.5% at 55 2.5% at 50 <br />2.7% at 55 3.0% at 55 <br />3.0% at 60 3.0% at 50 <br />■ Defined Benefits determined by: <br />Age at Retirement <br />Years of Service <br />Highest Three -Year Avg. <br />OR <br />Highest 12 -month salary <br />■ Eligibility: <br />Age 50 <br />5 years vesting in CaIPERS <br />3 <br />