Your Unused Vacation Has an Affect on Your Retirement Allowance (Tiers 1, 2, and 3)
When you go to retire, ACERA will use the Retirement Formula to calculate how much your monthly retirement allowance will be, and you’ll get this monthly retirement allowance from us every month for the rest of your life.
This seminar covers a wealth of information about ACERA
membership, retirement allowance benefit formulas, purchasing
service, retirement allowance options, retiree health, dental and
vision coverage and much more. We recommend you attend
this seminar within five years prior to retirement. Visit our
Retirement Planning Seminars page to sign
ACERA cannot pay your full retirement allowance if community
property was earned and you are now divorced or you’ve dissolved
your state-registered domestic partnership without a court order
instructing how to pay an ex-spouse or ex-domestic partner,
or an agreed upon waiver of interest. Please review our
page on Divorce or Domestic
Partnership Dissolution Before Retirement for more
information on how your account will be impacted by a divorce and
how to resolve any outstanding items.
ACERA must have a COPY of these documents on
file before you can retire, so please submit them on or before
your retirement date. Failure to submit the needed documents may
delay the processing of your retirement benefits. You can provide
ACERA with many of these documents at any point during your
Once you’re eligible to
retire, you can select any date as your retirement date.
Retirement begins the day after your last day on paid status with
your participating employer, provided ACERA receives your
application before that date.
We encourage you to schedule a Ready-to-Retire Counseling
Session 3-6 months before your retirement date. During
your counseling session, ACERA will advise you on the retirement
benefits, payment options, and benefit deductions available once
you retire. You will also complete a retirement application and
In order to retire, you must submit a retirement
application to ACERA. You may submit your application up to
60 day prior to the retirement date you’ve chosen and written
on your retirement application. You can mail in your application,
send it via QIC code, or hand it to us in person. Once your
submit your application, we scan it into our database and record
your date of retirement in our database.
When you’re ready to retiree, during your Ready-to-Retire Counseling Session you will complete an Election of Retirement Allowance on which you will choose one of the five retirement options. Your selection is permanent, and cannot be changed after ACERA has received your signed, completed retirement election—so it’s important to understand your benefits and your beneficiary(ies)’ benefits under each option.
The temporary added annuity is a temporary increase in retirement
benefit for members who retire younger than age 62. Members
who see the most benefit retire significantly under age 62.
Members retiring near 62 (like at 61) will probably not
find much advantage in this benefit.
The amount of the temporary increase in retirement benefit
is based on the Social Security Administration estimates
your social security benefit to be if you take the early
retirement at age 62.