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Payment calendarCheck mailed May 27Direct deposit June 1

SB 868 (Cortese) – Supplemental Benefit Maintenance Account increase

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