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Payment calendarCheck mailed June 27Direct deposit July 1

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