Retirement Plans & Planning
The following retirement plans are offered by the District. Optum Health is not a retirement plan, but it does offer help with retirement planning.
CalPERS
The CalPERS website at www.calpers.ca.gov is the best source of information for all CalPERS programs and services, including available workshops, financial planning seminars, and all member publications and forms.
The California Public Employees' Retirement System (CalPERS) provides retirement benefits to approximately 1.5 million public employees, retirees and their families and more than 2,500 employers, including the District.
CalPERS offers a "defined benefit" plan which provides benefits that are calculated using a formula, rather than adding up contributions and earnings in a savings plan. Retirement benefits are calculated using a member's years of service credit, age at retirement and final compensation (average salary for a defined period of employment).
Bus Operators and Ferry Employees contributing to MEBA or IBU pension plans do not participate in CalPERS.
GOLDEN GATE TRANSIT AMALGAMATED RETIREMENT PLAN
The Golden Gate Transit Amalgamated Retirement Plan is a pension plan for full-time bus operators of Golden Gate Transit. The Retirement Plan is administered by Zenith American Solutions. For information regarding this plan, contact the Golden Gate Transit - Amalgamated Retirement Plan, 1600 Harbor Bay Pkwy, Suite 200, Alameda, CA 94502; Tel 866-584-7087; Fax 510-629-4442; Email ZA-ALA-GGTARPPension@zenith-american.com.
INLANDBOATMEN'S UNION (IBU) OF THE PACIFIC PENSION PLAN
The IBU Pension Plan is a pension plan for some Ferry Employees of the Golden Gate Bridge, Highway & Transportation District (refer to your Union MOU). For information regarding this plan, contact the IBU Pension Trust Office; Tell 800-547-4457, Monday - Friday, 8:30am - 5pm.
IBU Benefits Website: www.ibubenefits.org
MARINE ENGINEERS' BENEFICIAL ASSOCIATION (MEBA) PENSION PLAN
The MEBA Pension Plan is a pension plan for Ferry Vessel Masters of the Golden Gate Bridge, Highway & Transportation District. For information regarding this plan, contact Ann Gilchrist, Administrator, 1007 Eastern Ave, Baltimore, MD 21202; Tell 410-547-9111; Fax 410-385-1813.
ICMA-RC is now MissionSquare Retirement
MissionSquare Retirement, formerly ICMA-Retirement Corporation (ICMA-RC), is the deferred compensation plan offered by the District. Deferred compensation allows you to invest today for your retirement. Federal and (in most cases) state income taxes are deferred until your assets are withdrawn, usually during retirement when you may be in a lower tax bracket.
The ICMA-RC and the VantageTrust Company provide plan administration services and sponsor investment options for deferred comp plans established by public employers for their employees. These plans are established under Section 457 of the Internal Revenue Code of 1986. VantageTrust is the entity through which these services and investment options are provided.
Kim Hammond
MissionSquare Retirement Plans Specialist
(202) 759-7067
KHammond@missionsq.org
MissionSquare's Golden Gate webpage: https://www.msqplanservices.org/myplan/303915
ICMA-RC Participant Services: 1-800-669-7400
Here are some useful ICMA links:
Stay informed about the evolving economic and financial markets, and impacts of the COVID-19 pandemic at ICMA's Coronavirus (COVID-19) Resource Center at https://www.icmarc.org/participantresourcecenter.html.
OPTUM EAP - RETIREMENT PLANNING
The District's Employee Assistance Program (EAP) is a good source to help with your retirement planning. Please take advantage of this free service.
OPTUM Health: (800) 788-5614
Website: www.liveandworkwell.com
Access Code: 00155
Additional Information
For more information, please contact the HR Hotline at 415-257-4526 or email benefits@goldengate.org.