CalPERS retirements up

February 19, 2010

State and local government employees in California are retiring in record numbers. Experts suggest an aging workforce, cutbacks in positions and pay, and the economic downturn are all factors. [Calpensions]

Since last July, retirement applications at CalPERS are up 21 percent. There were 16,558 applications, compared to 13,774 during the same period in 2009. A spokesperson for CalPERS says that the current numbers are on track to “far exceed” 2009 by next July 1.

At the same time, more public employees are considering retirement. CalPERS has already received nearly 60,000 requests for retirement estimates since July 1.

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