Pension Sense blog | May 18, 2020
A lot has changed over the past few months, and we understand this has been a difficult time for our members. Seemingly overnight, schools transitioned from planning the final classroom days of the 2019-20 school year to remote learning and social distancing. Educators scrambled to adapt lesson plans. Classes and exams moved online. Graduations and end-of-year celebrations were cancelled. These challenges do not begin to account for all the disruption in our members’ personal lives.
The Governor’s May Revision described the difficulties to be faced by school districts that were not anticipated at the start of 2020.
It’s during these difficult times that we want you to have one less thing to worry about – your retirement.
For retired educators, benefits will continue to go out in full and on time every month. CalSTRS has never missed a benefit payment, and we will not start now.
For active teachers at any stage in their career, you can count on CalSTRS to provide your retirement benefit in the future, whenever that may be. Most importantly, we want to remind you that your benefit is set by a formula in law and is shielded from volatility in the investment markets.
We also want you to know that the money set aside by you, your employer and the state for your retirement cannot be used for anything besides providing your benefits.
To our educators across the state, we want to thank you for your service in these extraordinary circumstances. Regardless of all the change in our world, we promise that CalSTRS will be there for you in retirement.