CalPERS Power of Attorney Essential for Retirement and Survivor Benefits Management

The California Public Employees Retirement System (CalPERS) held a meeting on July 18, 2025, focusing on essential information for early-career members regarding retirement planning and benefits. A significant topic discussed was the importance of having a special power of attorney in place for CalPERS-related matters.

The meeting emphasized that a CalPERS special power of attorney allows designated individuals to manage retirement affairs if a member becomes incapacitated. This includes making address changes, adjusting tax withholdings, and handling lost or stolen checks. The special power of attorney is specifically tailored for CalPERS issues and does not extend to medical decisions or personal property management.

Without a valid power of attorney, family members may face the costly and time-consuming process of seeking a court-appointed conservator to manage the member's benefits. CalPERS encourages members to familiarize themselves with the power of attorney process and offers resources such as videos and publications available on their website.

Another critical point discussed was the distinction between beneficiaries and survivors in the context of preretirement survivor benefits. Beneficiaries can include a spouse or any designated individual, while survivors are defined by law and may include spouses, unmarried children under 18, or economically dependent parents. Members were advised to designate beneficiaries through their myCalPERS accounts or by submitting a specific form available online.

The meeting underscored the importance of proactive planning for retirement and ensuring that necessary legal documents are in place to facilitate smooth transitions for family members in the event of unforeseen circumstances.