Get Strs Form Sr 0307

Your final compensation is your highest average annual compensation earnable over a period of 36 consecutive months. Working part time or in multiple positions, or retiring midyear, could negatively affect your final compensation. See the CalSTRS Member Handbook or contact us for more information.

If you end all CalSTRS creditable service subject to coverage by the Cash Balance Benefit Program and the Defined Benefit Program for any reason other than death, disability or retirement, you may apply for a lump-sum termination benefit.

You can retire early with an actuarially reduced benefit at age 60 with five years of service or age 55 with 29 years of service. Members can also retire early with a reduced benefit at any age with at least 30 years of service.

You can typically expect to receive your refund within 30 to 45 days from the date we receive all your necessary forms. However, timeframes can vary if there are holds or other restrictions on your account that require review and action.

When you terminate your CalSTRS-covered position, you can request a refund of your Defined Benefit account contributions and your Defined Benefit Supplement account balance, including interest earned.

You can typically expect to receive your refund payment within 30 to 45 days from the date CalSTRS receives your complete Refund Application. However, payment timeframes can vary ing to volume. Contact CalSTRS for the most current timeframes.

Deciding when to retire You can retire at age 55 with at least five years of service credit. Members under CalSTRS 2% at 60 also have the option to retire at age 50 with at least 30 years of service credit.

If you no longer work in a CalSTRS-covered position, you can leave your money in CalSTRS until you reach 70½ or request a refund.