Retirement and Benefits

Retirement and Benefits

 Employees Hired on or before September 29, 2012


IRWD provides employees hired on or before September 29, 2012 with retirement benefits under the California Public Employees Retirement System at a 2.5 percent at age 55 formula. Final compensation is based on the highest year of recurring pay. The District pays the employer share of these costs and the employee share of the pension cost of 8% is paid in full by the employees covered under this formula.

Employees hired on or after September 30, 2012


On September 24, 2012, the IRWD Board of Directors approved the addition of a second tier to the CalPERS retirement benefits.  New employees hired on or after September 30th through December 31, 2012, and employees hired on or after January 1, 2013 who have been in PERS membership or in membership with a reciprocal retirement system, will receive benefits under the California Public Employees Retirement System at 2 percent at age 60 formula.  This formula gradually increases to a maximum benefit of 2.418% at age 63. Final retirement compensation calculations are based on the highest three-year average of regular, recurring pay. The District pays the employer share of these costs and the employee share of the pension cost of 7% is paid in full by the employees hired under this formula..

 Employees hired on or after January 1, 2013


The District, in compliance with the California Public Employees’ Pension Reform Act of 2012 (PEPRA), implemented a third tier for new employees hired on or after January 1, 2013.  New employees hired on or after January 1, 2013 who have not been in PERS membership or in membership with a reciprocal retirement system will receive benefits under the California Public Employees Retirement System at a 2 percent at age 62 formula. This formula gradually increases to a maximum benefit of 2.5 percent at age 67. Final compensation calculations will be based on the highest three-year average of regular recurring pay. The District pays the employer share of these costs and the employee share of the pension cost of 6.25% or 50% of normal cost is paid in full by the employees hired under this formula.

 Medical, Dental, Vision and other Benefits:


IRWD provides medical, dental and vision coverage with employees sharing in the monthly cost of the program. A deferred compensation program is available in the form of a 457 plan, with matching funds after one year of employment. IRWD supports higher education goals by sharing tuition costs for classes, certification programs or job-related courses. Life insurance and car allowances are offered in varied amounts depending upon the position. Rideshare and vanpool options as well as uniform allowances are also available.

Latest News

energy-storage-award
IRWD Wins Innovation Award For Energy Storage ProgramThe IRWD Energy Storage Project was recently selected as a winner at the 6th Annual Golden Hub of Innovation Awards by the Association of California Cities - Orange County (ACC-OC). The Golden Hub of Innovation Awards recognizes local agencies, cities and...
irwd-professionals-assure-water-quality-2
IRWD Professionals Assure Water QualityWhen it comes to delivering safe water to our customers, the bottom line is that Irvine Ranch Water District meets or exceeds all state and federal guidelines for drinking water. Ensuring that quality on a day-to-day basis is the primary responsibility...
posters-chosen-for-annual-contest
Posters Chosen for Annual ContestFive posters created by students who attend school in the Irvine Ranch Water District service area were selected for judging in the Metropolitan Water District of Southern California’s “Water is Life” poster contest. IRWD judges selected the posters from among many...