Making Cents | February 2026

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Announcements | Looking Ahead | Spotlight | Learning More | Planning for Retirement

FEBRUARY 2026 | IN THIS ISSUE

The updated Voya mobile app puts your money
and future all in one place

Catch up with retirement by saving more to the
CalPERS 457 Plan

April 6 - 10 is America Saves Week

Manage your investments for long-term success

Put your future into focus in 2026 with the CalPERS 457 Plan

The value of continued contributions

Smart withdrawal strategies as part of your secure
financial future

QUICK LINKS

Log into Your CalPERS 457 Plan Account

Dedicated Account Managers for the CalPERS 457 Plan

Schedule an Appointment with a Dedicated Account Manager

Participant Change Authorization Form

2026 contribution limits

Announcements

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The updated Voya mobile app puts your money and future all in one place

Did you know that you can access your CalPERS 457 Plan account on the go? The new Voya mobile app is secure, streamlined, and always accessible to bring everything you need into one simple, intuitive experience. Go to your favorite app store and search keyword Voya to get:

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All-in-one access. View and manage all your accounts in one place alongside external accounts like checking, savings, and credit cards for a complete picture of your financial life.

Personalized financial guidance. Get tailored insights, goal tracking, and nudges to help you save more, pay off debt, plan for college, or prepare for retirement.

Interactive tools and resources. Simulate retirement income with myOrangeMoney®, access educational videos, live chat support, and investment advice designed to help you take confident action.

A streamlined experience. Experience accessible, clean design and intuitive navigation that makes it easy to check balances, update your account, and transfer funds while on the go.

Wherever life takes you, Voya goes with you. Download and log in today to experience your upgraded financial journey. If you’ve previously downloaded the Voya Retire app, look for an automatic update or prompt to update your app.

Catch up with retirement by saving more to the CalPERS 457 Plan

Individuals aged 50 and older by the end of 2026 can save even more for retirement this year. The age-based catch-up contribution limits allow you to contribute more to the CalPERS 457 Plan in 2026. Here are the key details of each catch-up limit as announced in IRS Notice 2025-67:

Catch-Up Contribution Limit (Ages 50-59 or 64+):	Participants aged 50-59 or 64+ by the end of 2026 can contribute up to $32,500 ($24,500 + $8,000).
Catch-Up Contribution Limit (Ages 60-63):	Participants aged 60-63 by the end of 2026 can contribute up to $35,750 ($24,500 + $11,250).¹
*NEW THIS YEAR*	If you are age 50 or older by the end of the year, pay into Social Security, and your wages in 2025 exceeded $150,000 (which can be confirmed in Box 3 of your Form W-2), your age-based catch-up contributions in 2026 can only be made on a Roth after-tax basis. Please contact your dedicated Account Manager for more information.

The age-based catch-up contribution limits are a great opportunity for you to maximize your CalPERS 457 Plan savings during your remaining working years. Your future self thanks you. When you’re ready to update your contributions, please complete a Participant Change Authorization Form and return it as directed. Please contact your dedicated Account Manager to help you determine what your contribution limit is for 2026. Call 888-713-8244 or visit calpers457.timetap.com to schedule an appointment.

¹ Under a change made in SECURE 2.0, a higher catch-up contribution limit applies for employees, aged 60, 61, 62 and 63 on December 31 who participate in governmental 457 plans

Looking Ahead

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Own your financial story during America Saves Week

Do you have a clear view of your finances?

America Saves Week, which takes place from April 6 – 10, is an annual celebration and call to action for everyday Americans to commit to saving successfully. This year, focus on owning your financial story and consider the small steps that you can take now to have a big impact on your future.

Start with a financial check-in. When it comes to retirement, how do you know if you’re on track? No matter how where you expect to receive income in retirement, it may not be enough without personal savings to a voluntary account like the CalPERS 457 Plan. Here are some benchmarks to help guide and track your progress toward retirement readiness.

By age 30, set a goal to have at least an amount equal to your annual salary saved.

By age 40, a goal may be to have at least three times your annual salary saved.

By age 50, six times your annual salary in savings could be an appropriate goal.

By age 60, retirement may begin to feel achievable if your savings is eight times your annual salary.

By age 67, you may be ready for retirement if your savings equals at least 10 times your annual salary.

These basic milestones for saving may be changed due to factors such as when you plan to retire, where you plan to live in retirement, how active you plan to be in retirement, and any other unique ways you picture yourself in retirement.

With those financial goals in mind, are you on track? If not, consider completing a Participant Change Authorization Form to increase the amount you save for retirement each pay period. Challenge yourself to meet or exceed your next 10-year savings goal, which may mean needing to increase your CalPERS 457 Plan savings rate.

You can also get help with your financial story on the journey to and through retirement. An annual meeting with your dedicated Account Manager is a great way to review and discuss where you’re at and what else you can do to achieve your goals. Schedule an appointment today by visiting calpers457.timetap.com or calling 888-713-8244.

Manage your investments for long-term success

As a CalPERS 457 Plan participant, you can choose how to invest the money in your account among the different investment options that are available to you. After reviewing your investment options carefully, you can change your investment elections and transfer balances within your account online.

Visit calpers457.com to log into your account. Click Register Now to create your account username and password if it’s your first time logging in. Once you've logged into your account, go to Investments & Research to get started. On the Manage My Investments page, you can make these types of investment changes.

Future Investment Elections — You may want your future savings to go into different investment options than you have elected. By changing your future contributions, you can allocate any ‘new money’ to different funds.

One-Time Account Rebalance — Your goals or comfort level with risk may change over time, especially as you get closer to retirement. A one-time rebalance will allocate your account to new investment fund choices for all of your current savings.

Automatic Account Rebalancing — Over time, shifts in the market might mean your investment selections have become ‘out-of-balance’ from your original election. Automatic account rebalancing will help you stick to your plan even when markets swing. When your goals change, be sure to revisit and review how you are invested.

Fund to Fund Transfer — A fund to fund transfer is the movement of a specific amount of savings from one fund to another. It allows you to transfer some of your money within the same class or to a different asset class within the CalPERS 457 Plan. For example, you may decide to move your savings into a different Target Retirement Date Fund if your anticipated year of retirement changes.

When you want help with your account, we are here to help. Call 800-260-0659 and press 2 for a Participant Service Representative weekdays between 6:00 a.m. – 5:00 p.m. PT (excluding stock market holidays). Representatives can answer your account questions and help you process investment-related transactions. To review and discuss your investing strategy, schedule an appointment with your dedicated Account Manager by calling 888-713-8244 or visiting calpers457.timetap.com.

Spotlighting the CalPERS 457 Plan

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Put your future into focus in 2026 with the CalPERS 457 Plan

Is getting “serious” about your retirement planning on your resolution list for 2026? While most resolutions may fade over time, having clear financial goals and regularly checking in on your progress could help to make your future dreams a reality. No matter where you are in your career and when retirement may be, the CalPERS 457 Plan can help.

Know where you stand.	Visit calpers457.com to log into your account and click Financial Wellness at the top of the page to take a financial wellness assessment that can help you think about your finances and priorities in a comprehensive way. Once you’ve completed the assessment and reviewed your results, take a moment to reflect on how far you’ve come and where you want to go.
Review and consider increasing your CalPERS 457 Plan contributions.	Visit calpers457.com to log into your account and review your retirement progress using myOrangeMoney®. Challenge yourself to save more if you’re not on track, especially if you have not increased your savings in a while. Learn more about the 2026 contribution limits and how much you can save for retirement this year based on your age.
Consolidate your accounts.	Voya® can help you roll retirement accounts from former employers into your CalPERS 457 Plan account to help simplify your retirement planning process. Consolidating accounts can help you stay on top of your finances by investing consistently, paying the same fees and tracking your retirement progress in one place. Call 866-865-2660 or email ACT@voya.com to learn about your options to help simplify your financial life.¹
Review and manage your beneficiary designations for all your financial accounts to help ensure your assets are distributed as you intended.	The beneficiary(ies) you designate to your CalPERS 457 Plan account is separate from any designation you may have made elsewhere employee. Visit calpers457.com to log into your account, go to your profile in the upper right corner, and click Personal Information to review and update the Beneficiary Information section to instruct how the benefit is paid upon your death.

Finally, don’t do it alone. An important retirement benefit and planning resource as a CalPERS 457 Plan participant is your access to a team of dedicated Account Managers. No matter where you are on the journey to achieving your future financial goals, your dedicated Account Manager can help. Call 888-713-8244 or visit calpers457.timetap.com to schedule an appointment to review and discuss your retirement saving goals.²

IMPORTANT: The illustrations or other information generated by the calculators are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions related to your individual tax situation.

¹ Retirement Consultants are registered representatives of and offer securities through Voya Financial Advisors, Inc. (member SIPC). Please note that while Voya retirement consultants do not make money on individual conversations, the products and programs they offer have fees and costs associated with them. Please refer to the disclosures/prospectuses of the individual products for additional pricing information. Please carefully consider the benefits of existing and potentially new retirement accounts and any differences in features. Please note that assets rolled over from other non-457 plans (such as 401(a)/401(k), 403(b), a traditional IRA) may remain subject to the IRS 10% premature distribution penalty tax.

²Information from registered Plan Service Representatives is for educational purposes only and is not legal, tax or investment advice. Local Plan Service Representatives are registered representatives of Voya Financial Advisors, Inc., member SIPC.

Learning more about the CalPERS 457 Plan

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The value of continued contributions

The CalPERS 457 Plan offers you a way to create more confidence for your financial future. You just have to save for it. By making continuous contributions, you can make progress toward achieving your goals. Why?

You’re making it automatic. Through plan participation, your contributions are automatically deducted from your paycheck and invested in your account. This can help take the worry out of transferring money, remembering to contribute, or being tempted to spend the money you intended to invest.

You’re focusing on the future. If you’re ever faced with the decision to contribute for the future or have increased cash flow today, consider the implications. What could stopping contributions now mean once you reach retirement age? Would you have to work longer or do less in retirement? Retirement is meant to be celebrated as a reward for your years of hard work, so consider that when balancing current financial needs with future goals.

You’re taking advantage of dollar cost averaging. Dollar cost averaging can help take the guesswork out of when to invest because you invest the same amount of money in the same investment(s) on a regular basis.

When you make regular contributions to the CalPERS 457 Plan, the number of shares you are able to buy will vary based on the investment’s share price. When the price is high, you purchase fewer shares. When the price is low, you purchase more. When the market is fluctuating, the average cost of each share you buy over a specific time period will generally be lower than the investment’s average share price for the same period. For example:

	Contribution	Share Price	Shares Acquired
Pay Period 1	$100	$10	10
Pay Period 2	$100	$5	20
Pay Period 3	$100	$8	12.5
Pay Period 4	$100	$5	20
Pay Period 5	$100	$10	10
Total	$500		72.5

In five pay periods, you purchased 72.5 shares for $500. That’s $6.90 per share. The average price during that time, though, was $7.60 ($38 / 5). The longer you contribute, the more shares you’re able to accumulate at a lower average cost per share. Dollar cost averaging and systematic investing do not ensure a profit or guarantee against loss in declining markets. Investors should consider their financial ability to continue their purchases through periods of low price levels.

To see if your current savings rate to the CalPERS 457 Plan has you on track to reach your retirement goals, log into your account at calpers457.com. To review and discuss your retirement saving strategy, call 888-713-8244 or visit calpers457.timetap.com to schedule an appointment with your dedicated Account Manager.

Planning for retirement with the CalPERS 457 Plan

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Smart withdrawal strategies as part of your secure financial future

When you enrolled in the CalPERS 457 Plan, you took an important step toward saving for your future.

If you’re nearing retirement or have retired from public service, it’s also important to understand the CalPERS 457 Plan’s distribution options. Making an informed decision will help you avoid receiving your payments in a method you don’t want or paying income taxes earlier than you might have to. So which option is right for you?

When you retire or leave employment, you have options with your CalPERS 457 Plan account balance. You may:

Keep your balance where it is.	Your savings continue to be invested and potentially grow tax-deferred even though you are no longer able to contribute. When you’re eligible to start taking Required Minimum Distributions (RMD), Voya will notify you and process them automatically.
Rollover to a new plan or IRA.	Rollover rules can be confusing and you don’t want to lose the tax-deferred status of your balance. Carefully consider the benefits of existing and potentially new retirement accounts, and any differences in features, before taking action.
Take a partial or full distribution.	Once your employment has terminated, you can take what you need and leave the rest in your account to potentially grow tax-deferred, subject to the IRS minimum distribution requirements. You may also elect to withdraw your entire balance at one time.

We want you to understand your options to help achieve a secure financial future. When you’re ready to discuss your distribution options, call 888-713-8244 or visit calpers457.timetap.com to schedule an appointment with your dedicated Account Manager

This material has been provided for educational purposes only. This material was created to provide accurate and reliable information on the subjects covered. It is not intended to provide specific legal, tax or other professional advice.

Information from registered Plan Service Representatives is for educational purposes only and is not legal, tax or investment advice. Local Plan Service Representatives are registered representatives of Voya Financial Advisors, Inc., member SIPC. Plan administration services provided by Voya Institutional Plan Services, LLC.