Retirement
The City of Stockton participates in the California Public Employees Retirement System (CalPERS). Contributions to this plan are made by the City on behalf of each participating employee and by the employee. The City receives annual reports from CalPERS.
For additional information about CalPERS, a link to their web site is provided under External Links below.
Deferred Compensation 457 Plan
This supplemental retirement savings program, allows employees to make contributions on a pre-tax basis. Federal and state income taxes are deferred until assets are withdrawn.
Benefits of participating in this plan are listed below:
- Earnings accumulate tax-deferred
- Manage contributions as desired
- Portability - move account if needed
- Reduce income tax liability while saving for retirement
- Supplement retirement income in lieu of Social Security
- Wide range of investment options offered through MassMutual.
Retiree Healthcare
The following information is provided to assist City of Stockton retirees with making choices about retiree healthcare. Information about recent changes to retiree medical benefits and health plans, and possible options, is provided in the documents below, including information about the Affordable Care Act.
Links to other useful web sites that provide health benefit resources for retirees and young adults are found under External Links below.
- Health Actuarial
- Retiree Healthcare Option Letter April 1, 2013
- FAQs for Affordable Care Act - March 5, 2013 meeting with City Rep
- Covered CA-Health Plan Benefits Comparison Chart - Preliminary as of February 2013
- Health Benefits Resource grid
If you have additional questions, please directly contact the Human Resources Department.
External Links
California Public Employees Retirement System (CalPERS)
Affordable Care Act: California Exchange
This City of Stockton web page last reviewed on --- 8/28/2014