(CalPERS) California Public Employees Retirement System:
CalPERS is about people. It's about the dedicated individuals who serve, or have served, California at the state, regional, and local level through a career in public service. For more than nine decades, CalPERS has built retirement and health security for these public servants. As the nation’s largest public pension fund, our mission & vision ensure that our members' benefits and earned retirements are as enduring as the state they maintain. (CalPERS Story - CalPERS)
Valic/AIG is a 457b Voluntary deferred compensation Retirement Plan that is very generous. If an employee elects to participate in a voluntary deferred compensation retirement program, the City shall match each dollar contributed by the employee up to 3% percent of the employee's reoccurring pay.