Confused by all the retirement jargon in your California state employee benefits packet? Wondering whether you should even bother with a 401(k) or a 457(b) when you’re already vesting for CalPERS? You’re not alone. Here’s a simple breakdown of the differences, perks, and why having both or just one could work in your favor.

The Social Security Fairness Act recently restored benefits that many CalSTRS and CalPERS retirees thought they'd lost forever. If you worked in both public and private sectors, or previously declined to claim a spousal benefit, this landmark change could mean thousands more in Social Security benefits—plus back payments dating to 2024.