Be sure to review our Employment After Retirement publication (PDF) for specific guidelines and restrictions. CalPERS Golden Handshake Benefit Procedures "02-32" 06/03/2002 (PDF) Employer Rates 2020-2021 Employer Rates - STRS, PERS, Social Security, and Medicare 01/11/2021 (PDF) The 180-day waiting period applies without exception if you receive a Golden Handshake or any other employer incentive to retire. In 2013 CalPERS cut the time for paying off golden handshake debt from 20 years to five years. This is known as a golden handshake. You must retire within a specific “window period” to be eligible. 9 • • Golden Handshake. The Retirement Incentive Program is a program provided by employers that would increase the service credit used in calculating the CalSTRS service retirement benefit. In order to offer a Golden Handshake, there must be an impending layoff and your employer can demonstrate that enough savings can be realized to pay for the Golden Handshake benefits. The State Worker from the Sacramento Bee provides the latest news that affects workers in California's government and state agencies, including the DMV, Caltrans, Cal Fire, CalPERS and Corrections. A "Golden Handshake" is an early retirement incentive that can be offered by your employer. The official video channel of the California Public Employees' Retirement System. Phone: 888-225-7377 | TTY: (877) 249-7442 | Intl: +1 916-795-3000 www.calpers.ca.gov. Which helps explain why, even though the Great Recession ended more than a decade earlier, CalPERS … Your employer may offer additional service credit as an incentive to retire. Active Members & Retirees; Employers & Business Partners; Contact; Privacy Policy; Conditions of Use; Accessibility; 0 of retirement incentive. This is known as a golden handshake. Summary of Tentative Agreement with Bargaining Unit 6, July 3, 2020 through July 2, 2022 Summary of Agreement with Bargaining Unit 6 with Bargaining Unit 6, 7/3/2020 to 7/2/2022 (PDF) 2020 … Source: Calpers. A spokeswoman said the “decision supported the strategic goal to improve long-term health of the pension plan.” CalPERS does not issue a report of the number of golden handshakes and the amounts, unlike a state law requirement for CalSTRS. To be eligible, you must retire within … You must retire within a specific “window period” to be eligible. Ask your employer if they offer this type . Current law allows for a Golden Handshake to provide an additional two years of service credit. www.calpers.ca.gov 9 Golden Handshake Your employer may offer additional service credit as an incentive to retire. The CalPERS Golden Handshake is a contractual benefit offering an early retirement incentive to eligible employees. 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