Pension Sense blog | October 21, 2020
Help us celebrate National Retirement Security Week by checking in on your retirement savings goals. It falls on October 18–October 24 this year, and we want to share with you a few helpful tips on how to prepare for your future retirement today.
- Log onto myCalSTRS and check your Retirement Progress Report.
Your Retirement Progress Report provides an individualized overview of your CalSTRS account and benefits. This is a great opportunity to make sure your information, like your compensation and years of service credit, is correct. These figures ultimately will be used to calculate your retirement benefits.
- Use CalSTRS’ Retirement Benefits Calculator to estimate your future benefit.
Using the information in your Retirement Progress Report, you can easily estimate your future benefit with our online calculator. On average, you can expect the CalSTRS retirement benefit to replace 50–60% of a career educator’s final salary.
- Register for one of our benefit webinars.
Webinars are available for early-career and midcareer members, plus those who are nearing retirement. We are committed to providing educational workshops in webinar format so you can continue to plan your retirement from the safety of your home.
- Consider starting a supplemental savings account through CalSTRS Pension2®.
Pension2 is a voluntary, defined contribution plan that offers the opportunity to invest in low-cost 403(b), Roth 403(b), 457(b) and Roth 457(b) plans. With Pension2, you control how much to invest, and you can make changes to your account at any time. Extra savings, regardless of how small, will enhance your retirement savings goals for the future.
No matter where you are in your career, the steps you take today can provide a more secure future.