Pension Sense blog | September 2, 2020
If 2020 has taught us anything, it’s to expect the unexpected. While you can’t predict when a future crisis will happen, you can take steps today to make sure you’re prepared when it does.
We recognize National Preparedness Month each September to promote disaster and emergency planning. In the event of an emergency, the last thing you want to worry about is whether you can access your CalSTRS benefit. That’s why we encourage our members to receive their benefits through direct deposit.
Direct deposit allows benefit payments to be deposited straight into your bank account through electronic funds transfer, which eliminates the need for you to receive a paper check through the mail.
It’s easy to enroll in direct deposit or update your banking information through your myCalSTRS account. This quick, two-minute video provides step-by-step instructions.
Once you enroll, you’ll start receiving your benefits directly into your bank account on the pay dates listed on our website. It may take 60 to 90 days for the direct deposit to be established with your banking institution.
If you’re already enrolled in direct deposit but need to change your bank account information, you can update this information on myCalSTRS. This short video shows you how to update your account.
Your CalSTRS benefit is for life, and we want to make sure you receive it in the most convenient and reliable way possible.