Understanding State Membership Categories: First Tier and Second Tier

Link to presentation notes and resources: https://www.calpers.ca.gov/sources/me... All eligible state employees participate in CalPERS through designated retirement benefit formulas: State First Tier and State Second Tier. In this video, we'll break down how the tiers differ in benefits, contribution rates, and retirement age requirements and what these differences mean for your retirement. You'll also learn how the conversion process works if you're thinking about moving Second Tier service to First Tier, and how this choice can impact your future benefits. 0:00 Presentation 1:26 State Membership Tiers  2:02 Tier Comparisons 5:34 Retirement Formulas 10:42 Election Rights 12:05 Converting Second Tier to First Tier Formula 14:27 Resources