Provides additional Supplemental Benefit Maintenance Account (SBMA) benefits to members and beneficiaries of between 5% and 15% of their total benefit to be paid quarterly beginning July 1, 2023. The percentage increase depends on the date that the member retired, became disabled or died.
- Version: Introduced 1/24/2022
- Sponsor: Association of California School Administrators, California Federation of Teachers, California Retired Teachers Association, California Teachers Association
- Location: Senate Appropriations Committee
- Board Position: Support
CalSTRS analysis:As introduced 1/24/2022