CalPERS School Members - School members are employees in classified, non-certificated positions within the jurisdiction of a K-12 school or community college employer. School members include administrative staff, technical and support staff, bus drivers, and custodial staff.
School members receive one of the following retirement formulas:
- 2% at 55 Classic
- 2% at 62 PEPRA
CalPERS Employee Retirement Counseling
888 CalPERS (or 888-225-7377) or my.calpers.ca.gov
CalPERS Glendale Regional Office
655 North Central Avenue, Suite 1400
Glendale, CA 91203
CalSTRS members are employees in certificated positions within the jurisdiction of a K-12 school or community college employer. They include credentialed administrators, teachers, counselors, curriculum developers and trainers, nurses, therapists, and librarians.
CalSTRS administers a hybrid retirement system consisting of traditional defined benefit, cash balance and voluntary defined contribution plans:
- Traditional defined benefit plan: CalSTRS retirement benefit is a defined benefit pension. It’s based on the following formula, not on how much you contribute or how well CalSTRS investments perform: service credit x age factor x final compensation = retirement benefit.
- Cash balance plan: The CalSTRS Defined Benefit Supplement Program is a cash balance plan. A portion of the employee and your employer’s contributions on earnings for service in excess of one year are credited to the employee Defined Benefit Supplement account. The account earns guaranteed interest. At retirement, the employee receives a benefit that is equal to your total account balance.
- Defined contribution plan: With CalSTRS Pension2 – 403b, an employee can set aside additional savings for retirement. They select from a variety of investment plans, then contribute to the tax-advantaged account through paycheck deductions. The amount at retirement depends on contributions, investment gains or losses, and account expenses.
CalSTRS has two benefit structures:
- CalSTRS 2% at 62: Members first hired on or after January 1, 2013, to perform service that could be credited to the Defined Benefit Program and who never before performed service that could be credited to the Defined Benefit Program.
- CalSTRS 2% at 60: Members first hired on or before December 31, 2012, to perform service that could be credited to the Defined Benefit Program.
CalSTRS Employee Retirement Counseling
800-228-5453 select option 3
https://my.calstrs.com or https://www.calstrs.com/
100 Waterfront Place
West Sacramento, CA 95605