The Federated City Employees' Retirement System (System) is a defined benefit retirement plan serving the employees and retirees of the City of San José. The Voluntary 457 Deferred Compensation plan provides a convenient way for City employees to save money for retirement with pre-tax earnings.To retire you must meet two requirements: age and service credit . Your minimum retirement age depends on your retirement formula: 50, 52, or 55 . Splitting retirement accounts and pensions in a divorce can be complicated. What should be included in a pension plan's statement of investment policies? This typically involves filling out an application and providing necessary documentation. Let us advocate for you. Our diverse and inclusive workforce of more than 7,000 employees play a key role in the success of San José, the heart of the Silicon Valley. The law requires all members who retired after January 1, 2013, to wait six months (180 days) before returning to work in a CalPERS covered agency.