@retiresmarttony: As a financial advisor helping California state employees prepare for retirement, I consistently see three valuable CalPERS benefits that many members overlook. 🎯 First, unused sick leave can increase your pension. Every 2,000 hours of accumulated sick leave converts to one year of additional service credit at retirement. For example, 1,500 sick hours equals 0.75 years of service credit, which can increase your monthly pension benefit for life. The key detail: you must retire within 120 days of your separation date. Miss that deadline, and you may lose this benefit. 🎯 Second, your survivor benefit election is generally permanent. At retirement, you'll choose from options such as the Unmodified Allowance, the 100% Beneficiary Option, or the 50% Beneficiary Option. Each choice affects both your monthly benefit and what a beneficiary may receive after your death. Because this election has long-term consequences and is generally irrevocable, it's important to carefully evaluate your options before retiring. 🎯 Third, health insurance benefits can significantly impact your retirement income. CalPERS health insurance subsidies vary based on factors such as years of service and retirement eligibility. Many employees focus solely on their pension while overlooking the effect healthcare costs can have on their retirement budget. Understanding how these benefits work together can make a meaningful difference in your retirement plan. For more California retirement planning insights, follow @RetireSmartTony. Slalom Wealth Management is a registered investment adviser. This content is for informational purposes only and should not be construed as investment, tax, or legal advice. Investing involves risk, including the possible loss of principal. Past performance does not guarantee future results. Comments, endorsements, or recognitions are not representative of all client experiences and are not a guarantee of future performance. #CalPERS #RetirementPlanning #CaliforniaRetirement #PublicEmployees #PensionPlanning

Tony Matheson, CFA, CFP®

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Wednesday 01 July 2026 17:05:58 GMT