SB 525 (Torlakson) – Termination Benefits

Senate Bill

Reduces the period that a member of the Defined Benefit Supplement Program and a participant of the Cash Balance Benefit Program must wait before receiving a a termination benefit from one year to six months. Also prohibits the payment of more than one termination benefit under either program during a single five-year period.

  • Version: Chaptered (Chapter 661, Statutes of 2005)
  • Sponsor: Teachers’ Retirement Board
  • Location: Signed by Governor
  • Board Position: Sponsor

CalSTRS Analysis:

As Amended 5/27/2005

As Introduced 2/18/2005

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