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CalPERS for Retirement

Persephone

Hello everyone. I am new here and relatively new to Quicken Classic. It feels like a very steep learning curve so I plan to do one thing at a time.

In setting up my accounts, I tried to find the best investment one that would fit my CalPERS (California Public Employees Retirement System) but none of them really fit. Round peg, square hole sort of thing. CalPERS does not permit me to allow electronic access as my credit union does so it has to be manual. But I don't know how to set it up in Quicken so I can update it monthly. I need it to show my balance but even though it earns good interest in its investments, it doesn't have that feature that a mutual fund does, for example. How can I handle this?

Thank you for your help. I feel overwhelmed and uncertain how to proceed. Detailed steps would be very helpful but I would appreciate any direction.

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Quicken Kristina

Hello @Persephone,

Thank you for reaching out. To better assist, please provide more information. Is your CalPERS account similar to a 401(k), a different kind of investment, or is it more like a pension plan? What kind of transactions do you need to track? Are there any holdings that you'd need to track? If so, what kind (bonds, stocks, etc.)?

I look forward to your response!

volvogirl

My husband retired from CalPERS in 2009. I made an Account called PERS that I put his paycheck deductions in every month (he only got paid once a month). And every June when I got the Annual Member Statement I entered the June 30 interest. Do they still mail out the statements? There was nothing to track except the balance which I matched to the June 30 statement. Since he started with the state back in the 1970s and the statements end on June 30 not Dec 31, I had to do some manual calculations to get a good starting balance for when I started tracking on Dec 31, 1995.

Then when he retired and started getting his pension payments, I entered a one sided Adjustment to remove the total balance on the account by putting the account name in for the category like [PERS] in square brackets (at least in Windows, don't know what you do on Mac). Then it just disappeared from my net worth and accounts. I didn't bother doing anything in Quicken to convert or turn it into the pension like annuitize it Into the monthly income. Did that to my accounts too when I retired.

The pension deposits I enter to an income category I called CalPers Pension.