SB 868 (Cortese) – Supplemental Benefit Maintenance Account increase
Provides additional Supplemental Benefit Maintenance Account benefits to members and beneficiaries of between 5% and 15% of their total benefit, effective July 1, 2023, to be paid quarterly. The percentage increase depends on the date that the member retired, became disabled or died.
- Version: Chaptered (Chapter 818, Statutes of 2022)
- Sponsor: Association of California School Administrators, California Federation of Teachers, California Retired Teachers Association, California Teachers Association
- Location: Signed by Governor
- Board Position: Support
CalSTRS analysis:As amended 4/18/2022