The annual average CalPERS pension for retirees and beneficiaries residing in California is $36,685.
CalPERS (California Public Employees' Retirement System) provides retirement and health benefits to California public employees, retirees, and their families. These pension payments have a significant economic impact across the state.
CalPERS Economic Impact Highlights (FY 2022-23)
CalPERS pensions represent a substantial flow of funds into local economies. The majority of CalPERS retirees and beneficiaries continue to reside within California, contributing to the state's economic activity.
| Metric | Value | Notes |
|---|---|---|
| Annual Average CalPERS Pension (in CA) | $36,685 | Average pension for retirees and beneficiaries in California |
| Pension Payments to CA Retirees & Beneficiaries | $23.5 billion | Funds paid to those living in California |
| Total Pension Payments (All Retirees & Beneficiaries) | $31.1 billion | Total payments made to all recipients, worldwide |
| Retirees & Beneficiaries Living in California | 81.3% (641,804) | Percentage and number of recipients residing in the state |
This data underscores how CalPERS pensions not only provide financial security for retired public servants but also serve as a vital component of California's economy. The payments support local businesses, create jobs, and generate tax revenue. For more detailed information, you can refer to the official CalPERS Economic Impacts report on their website.
