Can I transfer my service with CalSTRS to CalPERS?
I was a teacher for 10 years under CalSTRS and have been under CalPERS for the past 20 years.
No, you cannot transfer your service credit to CalPERS, but one option that you have when accruing benefits from more than one California public retirement system is concurrent retirement. You can retire concurrently if:
- You are at least age 55 and a member of certain other California public retirement systems, including CalPERS, and
- You retire from both systems either on the same day or on different dates as long as you do not perform service creditable to either system between those dates.
If you do retire concurrently, CalSTRS generally will calculate your retirement benefit with the highest compensation you earned under either of the two systems. However, if you perform creditable service with both retirement systems during the same pay periods of your final compensation period, CalSTRS is required to by law to use your CalSTRS compensation earnable to calculate your final compensation.
You should also check the retirement eligibility requirements for other retirement systems. Besides CalPERS, those other retirement systems in California are the:
- San Francisco Employees’ Retirement System.
- University of California Retirement System.
- Legislators’ Retirement System.
- Systems established under the County Employees’ Retirement Law of 1937.