California Teachers Retirement System
Filed Under California Teachers Retirement | 2 Comments
retire as early as age 50 if you have at least 30 years of service credit. You can retire at age 55 with five years of service credit.
Retirement Benefit
CalSTRS has a great calculator you can use on their website to calculate your benefits. For example, I came up with this.
Your plan to retire in 2009
Your age at retirement will be 59 years.
Your Years of Credited Service will be 5.000
Your average monthly salary will be $ 3667
Go to http://www.calstrs.com/Calculators/index.aspx
Survivor Benefits
Depending on your amount of service credit and if you die before or after retirement, your survivor could receive a refund of the balance in your retirement account, a onetime amount and/or a monthly benefit. As soon as you are hired, complete the One-Time Death Benefit Recipient form provided by your employer. You can also print this form from www.CalSTRS.com or call us at 800-228-5453 to order it.
Carl Rodriguez
http://www.ACEtheCSET.com
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This is simply not accurate. The calculator does not produce 2500-3000 a month as you say given your parameters. You left out the income, so I guessed $100,000 for the last three years. It works out to be less than $800. mo.
What numbers did you input to get $2500 to $3000? I input a current salary of $60,000 a year and got a pension closer to $500 a month.