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Public pensions · Independent guidance

California pension guides

For the teachers, county workers, city staff, nurses and public safety members across Los Angeles and Orange County whose pension is the largest asset they own.

Aduna Capital is not affiliated with, endorsed by, or sponsored by CalPERS, CalSTRS, LACERA, OCERS, LAFPP, LACERS, the University of California, or any other retirement system. These pages are educational. Benefit formulas, tiers and options are set by each system and can change — always confirm your own figures with your system directly before acting.
The short answer

Your pension is administered by your system, not by us, and we cannot change your benefit. What we do is model how it interacts with everything else you own — so the decisions that cannot be undone, like survivor elections and service credit purchases, get made with the full picture in view.

Find your system

The decisions that matter most

Several pension choices are permanent once filed. These are the ones worth modelling before you sign.

Survivor benefit elections

Permanent, and made once.

Buying service credit

Sometimes excellent value. Sometimes not. It is arithmetic.

Pension vs lump sum

What California systems actually offer — and what they do not.

DROP programs

For public safety members: model it before you enter.

CalSTRS 2% at 60 vs 2% at 62

Which structure applies to you, and what changes.

CalSTRS and Social Security

WEP and GPO were repealed in January 2025. Most older guidance is wrong.

LACERA plan comparison

Plans A through G, and why yours depends on when you joined.

OCERS tiers

Which tier you are in, and what it means.

One thing most guidance still gets wrong. The Social Security Fairness Act, signed in January 2025, repealed WEP and GPO. Public pension recipients now receive unreduced Social Security benefits earned from other work. A great deal of advice still online predates that change — check the date on anything you read, including ours.

Where we're actually useful

  • Survivor elections. Reducing your benefit permanently in exchange for continuing payments to a beneficiary — whether that trade is right depends on your spouse's own benefits, your other assets, and insurance you may already hold.
  • Service credit purchases. Cost against age factor against how long you'll collect.
  • The 403(b) or 457(b) alongside. Many California public employees hold high-cost annuity products sold at work. Reviewing what you actually own is often the highest-value hour we spend.
  • Everything else you own. The pension is one asset. Coordinating it with IRAs, a spouse's plan, Social Security timing and taxes is the actual planning work.

Model it before you file

Survivor and service-credit decisions are permanent. Fifteen minutes, no cost, either language.