Termination Benefit (Refunds)
If you end all CalSTRS creditable service subject to coverage by the Cash Balance Benefit Program and the Defined Benefit Program for any reason other than death, disability or retirement, you may apply for a lump-sum termination benefit.
The benefit amount is equal to the sum of the balance of your contributions and your employers’ contributions plus any compounded interest and additional credits as of the date the benefit is paid.
You may not apply for a termination benefit if less than five years have elapsed following the date that the most recent termination benefit was distributed to you.
The termination benefit is payable after six consecutive months following the date of termination of employment. The application for the termination benefit will be automatically canceled if you perform creditable service within six months following the date of termination of employment.