In case you missed it: The top 5 Pension Sense blogs of 2022
Pension Sense blog | December 29, 2022 | Mindy Selby
This has been a year like none other! Your hard work in the classroom has continued to bring support, joy and enthusiasm to students. And we now have more than 1 million CalSTRS members and beneficiaries. Another highlight: Our member service centers reopened for in-person service.
For additional highlights of 2022, read our five most popular blogs:
No. 5: Manage your tax options with myCalSTRS
Active and retired members benefit from reviewing their tax preferences on an annual basis, and the new year is a great time to get a head start on assessing your financial outlook. While you’re online, check out our digital worksheets to see how different tax decisions will impact your monthly benefit.
No. 4: Member death benefit payments increased by 6.5%
Did you know you’re eligible to leave a one-time payment to a beneficiary upon your passing? The Teachers’ Retirement Board, our governing body, approved a 6.5% increase to this benefit effective July 1, 2022. This blog breaks down how much money your beneficiary would receive, explains how to elect your beneficiary, and shares other educational resources on protecting your survivors.
In January 2022, Governor Newsom temporarily suspended CalSTRS members’ annual postretirement earnings limit and separation-from-service requirements for certain retirees. The governor enacted this suspension to assist California school districts with staff shortages related to the COVID-19 pandemic. In July 2022, the suspension ended, and we wrote about it in detail to keep you informed.
No. 2: Supplemental benefit program helps guard against inflation and Update: Recent inflation leads to 50,000 more retirees receiving supplemental benefits beginning this October
Our runner-up is a two-part series on CalSTRS’ supplemental benefit payment program, which helps protect certain retirees from the impacts of inflation. The dramatic inflation over the last year led to a significant uptick in the number of members who receive these benefits. These two blogs describe the program, including how much it pays to members and whether it could apply to you.
No. 1: Redesigned CalSTRS.com website crafted with members in mind
We redesigned our website this year with the following priorities in mind: make it user-friendly, efficient and practical for you. CalSTRS.com features simplified navigation, a modern aesthetic, and extensive information and resources for you. If you haven’t had a chance to explore the new website, we invite you to visit CalSTRS.com now.
We know you’re busy, especially during the holidays, but we want to stay in touch and make sure you have the help you need to plan for your financial future.
For information on how to reach CalSTRS, visit the contact us webpage.
Happy holidays and happy new year!