CalPERS

2021 PEPRA Compensation Limits are $128,059 and $153,671

01-06-2021 |

These amounts have now been matched and published in CalPERS Circular Letter #200-001-21 dated January 6, 2021.

The California Actuarial Advisory Panel (CAAP) issued a letter detailing its calculation of the 2021 Compensation limits under PEPRA for New Members.  The limits are:

  • $128,059 for New Members participating in Social Security
  • $153,671 for New Members not covered by Social Security.

PEPRA, the California Public Employees' Pension Reform Act of 2013 specified the method for calculating the compensation limits based on the initial value and subsequent CPI increases.

CAAP has calculated the limits for 2014 and later years since they believe a uniform limit across California public plans, without rounding differences, will ease administration.  However, the CAAP is an advisory organization only and its calculation of the limit is non-binding.

These limits apply to New Members: those who are first hired by a public employer in 2013 or later.  Individuals who move between agencies with, generally, more than a 6-month break are also New Members.
 
CAAP Letter with 2021 Compensation Limits 01-06-2021
 
CAAP website

Brief Summary of PEPRA for CalPERS Agencies

 

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