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Program Description

The Cash Balance Benefit Program is a hybrid retirement program that can be an alternative to the CalSTRS Defined Benefit Program, Social Security and other retirement plans. It accumulates funds based on dollars contributed by the employee and the employer plus interest, similar to a defined contribution program.

Like a defined benefit program, it offers a guaranteed benefit—as a lump sum, or in monthly annuity payments if the balance is at least $3,500.

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