You’re already off to a great start to your secure future with your CalSTRS retirement benefit. Next you’ll likely need personal savings and investments.
Pension2, the CalSTRS voluntary supplemental savings plan, offers 403(b), 457(b), Roth 403(b) and Roth 457(b) plans with low costs and flexible investment options. It’s designed to fill the gap between your CalSTRS retirement benefit and the income you’d like to have in retirement.
Bring it all together
With CalSTRS Pension2, now’s the perfect time to combine your retirement accounts. By rolling over money you hold in other qualified retirement plans into Pension2, you’ll be able to manage your retirement savings in one place and benefit from some great features.
Asset consolidation is a powerful financial management strategy
Combining all your retirement accounts into one account makes it easier to manage your overall investment strategy — when you have fewer accounts and less paperwork to keep track of, you can focus on one investment strategy to meet your savings goals.
You may be able to save on fees
Why pay fees on multiple accounts, many of which may have investments with higher fees than the investment choices offered in Pension2? Less in fees can translate into more money in your account. To get a no-cost, no-obligation comparison of the fees you may be paying elsewhere and Pension2, simply call 888-394-2060, option 2.
What kind of retirement accounts can I roll over into Pension2?
You may roll over all or part of a distribution you receive from a qualified savings plan under another 403(b) plan, 401(a) or 401(k) plan, governmental 457(b) plan or traditional IRA. If your plan has a Roth 403(b) feature, rollovers are accepted from Roth 403(b), Roth 401(k) or governmental 457(b) plans. Once the rollover is complete, the balance is eligible for the Pension2 plan features.
Ready to open your Pension2 account?
Step 1: Create your Pension2 account. Enroll online or call 888-394-2060.
Step 2: Determine how much you want to invest. See the “What If” and “Why Wait” online savings calculators at Pension2.com. Consider investing the 6.2 percent of your monthly salary that would have gone to Social Security.
Step 3: Complete your district’s Salary Reduction Agreement, available from your payroll office or at 403bCompare.com (select Find Employer, then look for the link on your district’s page).