Retirement benefits available from CalPERS include the California Employers’ Benefit Trust, benefits to the deceased’s beneficiaries and deferred compensation, according to CalPERS. Other benefits include health benefits and disability, and industrial disability benefits. CalPERS stands for California Public Employees’ Retirement System.
The California Employers’ Benefit Trust, or CERBT, is a type of trust fund available to members of CalPERs. It offers benefits such as life, dental, health and vision insurance. The death benefits are for retirees’ beneficiaries, with conditions dependent on the survivor’s previous occupation and the contract between the employer and CalPERS, explains the CalPERS website.
Deferred compensation is a benefit offered to retirees, which includes programs such as ScholarShare, Savings Plus, Supplemental Income 457 and 401(k) programs, says CalPERS. Members of CalPERS need to sign up for these programs through the CalPERS 457 Employer Resource Center.
Disability retirement is provided by CalPERS where the cause of the disability does not need to result from the person’s employment, states CalPERS. Other benefits include health benefits for retirees and their family members and long-term care benefits. Additional retirement benefits include compensation following retirement based on the member’s number of years employed and whether the member has any type of service credits.