CalSTRS has conducted an assessment of AB 340, the California
Public Employees’ Pension Reform Act of 2013, and its impact on
CalSTRS members and operations and outlined key changes.
The purpose of this circular is to alert employers that the
Internal Revenue Service has announced the pension plan limits
for tax year 2013 and to inform employers of the compensation
limit for CalSTRS members and participants who are first hired to
perform creditable service on or after January 1, 2013.
Your retirement benefit is based on a formula (Service Credit x
Age Factor x Final Compensation = Member-Only Benefit). How
confident are you in your understanding of how this formula
determines your Member-Only Benefit amount?
