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Calstrs express benefit report 2012 form

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For additional information about excess sick leave see the Express Benefit Report instructions. One-year final compensation I certify pursuant to the district bargaining agreement that the present-value payment for one-year final compensation will be made to CalSTRS within 30 days of receiving billing for the member who has fewer than 25 years of service credit. Credit for unused sick leave is included in the calculation for your retirement benefit. The earlier CalSTRS receives this information ...

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What kind of retirement plan is CalSTRS?

CalSTRS Defined Benefit Program is a traditional defined benefit plan that provides retirement, survivor and disability benefits. Your Defined Benefit retirement benefit is based on a formula set by law using your age, service credit and final compensation.

How much does CalSTRS increase each year?

For members who retired on or after January 1, 2014, the State Legislature cannot reduce the 2% annual benefit adjustment. In addition to the annual 2% increase, CalSTRS provides purchasing power protection through the SBMA, which is one of the strongest anti-inflation programs of any public pension in the nation.

What is the earliest a teacher can retire?

Age 65 with five years of service credit, or. Age 55 with at least five years of service credit and meets the Rule of 80 (combined age and years of service credit total at least 80).

What is the average CalSTRS pension?

How much is the average pension? As of June 30, 2018, the average monthly CalSTRS member-only benefit was $4,512 while CalPERS retirees received an average of $2,979 monthly.

What is the highest age factor for CalSTRS?

The maximum age factor with the career factor is 2.4%. CalSTRS 2% at 62 members are not eligible for the career factor enhancement. Are you on track? On average, the CalSTRS retirement benefit replaces 50% to 60% of a career educator's salary.

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