How much of my pre-retirement income will my CalPERS pension replace?

A CalPERS pension is designed to replace only a portion of your pre-retirement earnings. The exact amount depends on your pension formula, years of service credit, and final compensation. Eclectic Associates models your projected benefit under different retirement dates so you can see what your pension will cover and build a plan to fill the gap with savings, a 457(b), and Social Security.

How does the Social Security Fairness Act affect CalPERS retirees?

The Social Security Fairness Act eliminated the Windfall Elimination Provision and Government Pension Offset, which means many CalPERS members now qualify for Social Security benefits they were previously denied. This includes potential retroactive lump sum payments. A financial planner can help you understand the tax implications of these new benefits and how they fit into your overall retirement income plan.

How do I choose the right CalPERS benefit option for my spouse and family?

CalPERS benefit option elections determine your monthly retirement income and what your spouse or partner receives after your death. This is a permanent, irrevocable decision. Eclectic Associates helps you evaluate the trade-offs between higher monthly income for yourself and financial security for your surviving spouse by modeling each option against your complete financial picture.

How does reciprocity work if I've worked for multiple California public agencies?

If you have worked in more than one CalPERS-covered role, or across CalPERS, CalSTRS, or other California public retirement systems, reciprocity rules determine how your service credit and final compensation are calculated. The rules are complex, and the way your benefits are coordinated can significantly affect your total retirement income. A financial planner familiar with CalPERS can help you understand how reciprocity applies to your specific situation.

How much should I contribute to my 457(b) and how do distribution rules work?

A 457(b) plan is one of the most powerful supplemental savings tools available to CalPERS members, but contribution decisions should be coordinated with your pension projections, tax situation, and retirement timeline. The 457(b) also has unique distribution rules that differ from a 401(k) or IRA. Eclectic Associates helps CalPERS members determine optimal contribution levels and build a distribution strategy aligned with their retirement income needs.

Financial Planning for CalPERS Members

Your Pension Is the Foundation. Let’s Build the Rest of the Plan.

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We are here to help you:

Understand What Your Pension Will Cover

Fill the Gap with a Coordinated Savings Strategy

Make Retirement Decisions with Confidence

A CalPERS pension offers reliable lifetime income, but it is typically designed to replace only a portion of your pre-retirement earnings. Knowing what your pension will, and will not, cover is where retirement planning begins. You may recognize yourself here:

You know your pension formula, but you haven’t modeled what it will actually look like in retirement income.
You have a 457(b) available but are unsure how much to contribute or how its distribution rules work.
You’re approaching a benefit option election that affects your monthly income and your spouse’s future security.
The Social Security Fairness Act brought new benefits to many CalPERS members, along with potential tax consequences you’re unclear about.
You’ve worked in more than one public sector role and aren’t sure how reciprocity affects your retirement picture.

These are planning questions CalPERS can describe in general terms, but cannot answer for your individual situation. Our team works with public employees in Southern California and across the state to help build a retirement strategy around the pension you’ve earned.

What Will Your Pension Actually Replace?

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Working with CalPERS Members Across California

State Employees

City, County, and Public Agency Employees

School District and Community College Employees

Public Safety Personnel

A Financial Plan Built Around Your Pension

We partner with you to help create:

Clarity on Your Retirement Income Picture

We model your projected benefit across different retirement dates so you can see what your pension will cover and plan around the rest.

Decisions Made with Confidence

When a benefit option election or 457(b) distribution question arrives, you’ll have someone to think it through with before it’s final.

A Plan That Moves with Your Career

Whether you change agencies, gain reciprocal service credit, or shift roles, we help your plan keep pace as your career evolves.

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Serving California’s Public Employees Since 1984

Public employees in Orange County, Los Angeles, and across California have built careers in service to their communities. Eclectic Associates has been serving those professionals from our Fullerton office since 1984.

We are a fee-only, fiduciary financial planning firm, which means we are paid only by our clients and are required to act in your best interest. For CalPERS members, that can mean:

Modeling your pension benefit under different retirement ages and service credit scenarios.
Evaluating benefit option trade-offs, including provisions for a spouse or partner.
Coordinating your CalPERS pension with a 457(b), personal savings, and Social Security benefits.
Understanding the tax implications of new Social Security payments under the Social Security Fairness Act, including retroactive lump sum payments. (See our blog: Government Pension? You Could Get More from Social Security)
Navigating reciprocity across CalPERS, CalSTRS, or other California public retirement systems.
Mapping how today’s decisions can support what matters most to you and your family.

You have spent your career in public service. We believe you deserve financial advice that takes your specific benefits seriously.

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Our Services Include:

How We Work Together

1

Schedule the Conversation

Tell us about your work, your goals, and what’s on your mind.

2

Understand Your Picture

We pull together your full financial picture and build a strategy.

3

Keep the Plan on Track

We meet regularly and also stay a phone call away.

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Are We a Match?

We may be a good fit if you are a CalPERS member and:

Want help coordinating your pension with savings, Social Security, and a long-term income plan.
Value fee-only, fiduciary advice with no commissions and no products to sell.
Want a long-term relationship with advisors who understand your public employee benefits.

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Take the Next Step

You've spent your career serving others. Now let's create a retirement that works for you.

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Or reach us directly at 714-738-0220