What options are available for managing my CalPERS account after retirement?

After retirement, there are several options available for managing a CalPERS account. Retirees can choose from the different payment options provided by CalPERS for their monthly pension benefits. The most common payment options include the Lifetime Allowance, which ensures a fixed monthly payment for the retiree's lifetime, and options that provide benefits to a named beneficiary, such as the Option 2, which pays a reduced monthly benefit to the retiree while providing a monthly benefit to the beneficiary upon the retiree's passing. In addition to payment options, retirees can also make changes to their contact information, such as updating their address or bank details, through the CalPERS online services. This ensures that pension payments are delivered accurately and in a timely manner. While changes to payment options may not be easily made post-retirement, it is important for retirees to understand the options they initially selected, as these choices can have long-lasting effects on their financial security. Retirees may also wish to explore their options for health benefits, as CalPERS offers a variety of health insurance plans for retirees. Managing health benefits is crucial for maintaining well-being during retirement. For additional assistance, retirees should consider checking the current CalPERS web page for resources and contact information, which may be beneficial if they have questions or require further assistance regarding their retirement account. It is important for retirees to stay informed about their options and available resources to ensure they make the best decisions for their retirement planning.