All employees whose employers have adopted the CalPERS 457 Plan are immediately eligible to join the Plan. There are no minimum service requirements to fulfill and enrolling is easy.

Complete the CalPERS 457 Participant Enrollment Kit from your employer or your dedicated Account Manager. Complete the Employee New Enrollment Form and the Beneficiary Designation Form, following the instructions carefully, and return both to your Personnel/Payroll Department. It’s that easy.

Before you join, decide what dollar amount from your pay you want to contribute to the CalPERS 457 Plan. The amount should not exceed the yearly maximum set by the IRS.

Next, decide how you want your contribution allocated among your choice of investment options. The Target Retirement Date Funds have been designated as the default investment under the Plan. IF YOU DO NOT MAKE AN AFFIRMATIVE INVESTMENT ELECTION PRIOR TO THE DATE THE FIRST CONTRIBUTION IS DEPOSITED INTO YOU ACCOUNT, YOUR CONTRIBUTIONS WILL BE INVESTED IN THE APPROPRIATE TARGET RETREMENT DATE FUND, BASED ON YOUR DATE OF BIRTH AND ASSUMING YOU WILL RETIRE AT AGE 59. Prior to investing you should carefully review all fund information and objectives and consider consulting with an outside investment adviser.

To review the current IRS contribution limits please see Contributing to the Plan.