Whether you are a new employee just getting familiar with your pension benefits or a long-term employee considering retirement, the key to a successful and financially secure retirement is to start planning years in advance. By fully understanding your retirement plan options and retirement process you can make the best decisions for your financial future.
CalPERS
The County of Riverside offers a defined benefit plan through CalPERS. CalPERS is the largest pension fund in the nation offering benefits to over 2 million public employees, retirees, and their families. This benefit has a vesting period of 5 years of CalPERS qualifying service credit; CalPERS offers reciprocity for service time in some other public agencies. This plan is designed to provide you with the security of a lifetime pension benefit. Your benefit will vary, based on your age, years of service, and final compensation at time of retirement. Only employees in Regular employment status are eligible to participate in this plan.
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457 Deferred Compensation Plan
The County of Riverside offers a voluntary Deferred Compensation Plan to assist employees in meeting their financial goals in retirement. Employees may choose to contribute to Deferred Compensation Plans through Nationwide Retirement Solutions and/or Corebridge Financial. Traditional deferred compensation contributions are deposited into employees account on a pre-tax basis. ROTH deferred compensation contributions are deducted on an after-tax basis. While employee funds are held within these accounts, they do not pay taxes on gains. When the employee separates from the County, they are eligible to withdraw funds or roll them over into another qualified plan. The decision to participate in the 457 Deferred Compensation plan is separate from participation in the CalPERS or 401(a) Part-Time and Temporary Employees retirement plans which are mandatory.
401(a) Part-Time and Temporary Employees' Retirement Plan
The County of Riverside Part-Time and Temporary Employees’ Retirement Plan is a self-administered defined benefit pension plan implemented on April 1, 1999. This plan was designed to provide eligible employees with a benefit equivalent to Social Security for employees not paying into Social Security. You are required to participate in the plan if you are designated as a Temporary/Part-Time employee who is not covered under any other retirement system, and for whom the County is not paying Social Security taxes. The plan is funded by employee and employer contributions.
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401a Money Purchase Plan
The Money Purchase Program was developed by the County to supplement employees’ retirement plans. This program is funded by the County at no cost to the employee, but employees must enroll and select investment elections to participate. Eligible employees belong to the RSA, RSC, LEMU, RCDDAA, Management, Confidential, and Unrepresented bargaining units.
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Retirement Preparation Workshops
Thinking about retirement?
If you are planning to retire, CalPERS invites you to attend a live Webinar where you will receive step-by-step instructions on filling out the service retirement application and an explanation of the different retirement options available. To Enroll Log in to myCalPERS and select the Education tab to view class offerings and register for your employer sponsored class. You can also access your myCalPERS account by logging onto www.calpers.ca.gov and then selecting myCalPERS Log In.
Please review our virtual retirement workshops
Additional Workshops Available
Deferred Compensation Workshop Calendar
Retirement Estimate Calculator
Estimate My Retirement - my|CalPERS|
How to register for My|CalPERS?
Using my|CalPERS
CalPERS Member Education Center
Post Employment Program
The Post Employment Program (PEP) provides employees who are ending employment with the County with the opportunity to save money on taxes.
To qualify for this program, the employee must have at least 5 years of service in a regular position and be a member of one of the following bargaining units: Management, Unrepresented, Confidential, LIUNA*, SEIU*, RCDDAA, RSA and LEMU. When the employee separates from the County, their leave balances are contributed to the Post Employment Program. Instead of having the amounts paid directly to the employee and taxed at the higher supplemental rate, these funds are deposited into a tax-deferred account for the employee. For specific guidelines related to your bargaining unit, please click on the brochures below.
*LIUNA and SEIU employees must have at least 5 years of service and retire to participate in this plan.
Who is Eligible?
Your leave payout will be contributed to the Post Employment Program (PEP) mandatorily if you meet the following eligibility criteria:
- LIUNA and SEIU - At least five years of service with the County of Riverside in a regular position and retiring.
- RSA, RSC, Management, Confidential, Unrepresented, DDAA, and LEMU - At least five years of service with the County of Riverside in a regular position.
Thinking about retirement?
Please review our virtual retirement workshops
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Contact Us
To learn more about your retirement or to obtain additional information, please contact the Human Resources Retirement Division:
Phone:(951) 955-4981, Option 2
Email: [email protected]
Fax: (951) 955-8538
Schedule an Appointment: http://rchr.checkappointments.com/
Hours of Operation are Monday - Friday 8:00 a.m. to 4:30 p.m.
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Hours of Operation
Monday - Friday 8:00 a.m. to 4:30 p.m.
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