CALSTRS Explained | A Complete Guide & Overview of The California State Teachers Retirement System

If you’re a teacher in California looking for some clarification on your pension and how it works, in an easy to digest format that is in simple terms, then this video is for you! (Video timestamps below).

CALSTRS Links:

CALSTRS stands for California State Teachers' Retirement System. It is the public pension system that provides retirement, disability, and survivor benefits for California's public-school educators. CALSTRS is one of the largest pension funds in the United States, with over 964,000 members and assets totaling over $306 billion as of September 2021.

In this video, we will cover the pension tiers, vesting, service crediting, service credit purchases, final average salary, group insurance, the different types of retirement, disability, withdrawal, social security, increasing your benefits, 2023 changes, and more.

We’ll also explain all the terms and rules along the way, so don’t worry if you don’t fully understand your CALSTRS pension right now, you will in a little bit!

At the end of the video, we’ll also talk about how you can get a comprehensive report that will detail your projected pension income, social security income, and income shortfall at different ages throughout retirement adjusted for inflation. There’s a lot to cover on CALSTRS so let’s get started!

Here are the video timestamps:

1:45 Eligibility
2:42 Benefit Structures
4:50 Benefits/Plans
6:23 Types of Retirement
8:38 Final Average Salary
9:58 Purchasing Service Credit
11:21 Member Contribution Rates
12:45 Vesting
14:10 Beneficiary Options
16:39 Pension Loans
12:31 Group Life Insurance
19:10 Stability of CALSTRS
20:45 Supplementing CALSTRS
21:20 Withdrawals
21:59 CALSTRS & Social Security
23:65 Sick Time
24:30 Increasing Your Benefits
25:34 Cost of Living Adjustments
27:12 Disability Retirement
28:30 2023 Changes
31:01 Pension, Social Security & Income Reports

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Want to be coached by us & be a part of our community?

**You MUST be an active or retired teacher or public employee to apply**

Want to learn more and see more lessons like this? Check out the P.E.R.T. Retirement Roadmap for Teachers & Public Employees. This is a comprehensive, simple, and easy-to-follow guide taking you from A to Z on how to get started and understand exactly what you need to know and do in order to prepare for retirement and be financially well! You'll get lifetime access to an entire community of teachers & public employees just like YOU, 7 modules of on-demand, e-learning content that will lead down the path to becoming financially well and prepared for retirement, and a host of other member benefits!

*The information contained on this channel, including any products or concepts mentioned, is for general educational and informational purposes only and should NOT be considered a recommendation, financial, tax, legal or investment advice. Always consult with your financial and/or tax professional.*

#CALSTRS #teacher #teacherretirement

[publicemployeeretirement]

If you’re a teacher in California looking for some clarification on your pension and how it works, in an easy to digest format that is in simple terms, then this video is for you! Want to be coached by us & be a part of our community? Video timestamps are below.

*You MUST be an active or retired teacher or public employee to apply*

Here are the video timestamps:

1:45 Eligibility
2:42 Benefit Structures
4:50 Benefits/Plans
6:23 Types of Retirement
8:38 Final Average Salary
9:58 Purchasing Service Credit
11:21 Member Contribution Rates
12:45 Vesting
14:10 Beneficiary Options
16:39 Pension Loans
12:31 Group Life Insurance
19:10 Stability of CALSTRS
20:45 Supplementing CALSTRS
21:20 Withdrawals
21:59 CALSTRS & Social Security
23:65 Sick Time
24:30 Increasing Your Benefits
25:34 Cost of Living Adjustments
27:12 Disability Retirement
28:30 2023 Changes
31:01 Pension, Social Security & Income Reports

[xoxxx]

Do widows get anything if the teacher husband dies?

[edwardmartinez]

Now I know why the State of California is going broke!!