CalSTRS Cash Balance Benefit Program
E671755
The CalSTRS Cash Balance Benefit Program is a retirement savings plan for California education employees that provides tax-deferred contributions and guaranteed, interest-earning benefits as an alternative to traditional defined benefit pensions.
Statements (45)
| Predicate | Object |
|---|---|
| instanceOf |
cash balance plan
ⓘ
retirement savings plan ⓘ tax-deferred retirement plan ⓘ |
| administeredBy | California State Teachers’ Retirement System NERFINISHED ⓘ |
| benefitFormulaBasis | accumulated contributions plus interest ⓘ |
| benefitGuarantee | minimum interest credit rate ⓘ |
| benefitStructure |
account-style benefit
ⓘ
guaranteed interest crediting ⓘ |
| benefitTiming | payable upon termination, retirement, disability, or death ⓘ |
| contributionBasis | percentage of salary ⓘ |
| contributionMethod | payroll deduction for employee contributions ⓘ |
| contributionType |
employee contributions
ⓘ
employer contributions ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| currency | U.S. dollars ⓘ |
| documentation | CalSTRS Cash Balance Benefit Program plan booklet ⓘ |
| eligibleParticipants |
California public school employees
ⓘ
community college educators ⓘ part-time educators ⓘ substitute educators ⓘ temporary educators ⓘ |
| employerRole | may elect to offer the program to eligible employees ⓘ |
| governedBy | California Education Code NERFINISHED ⓘ |
| investmentRisk | borne by plan sponsor ⓘ |
| operatesIn | California NERFINISHED ⓘ |
| pays |
annuity benefits
ⓘ
lump-sum retirement benefits ⓘ |
| planSponsorCategory |
community college districts
ⓘ
county offices of education ⓘ school districts ⓘ |
| planType |
alternative to traditional defined benefit pension
ⓘ
cash balance defined benefit plan ⓘ |
| portability |
allows rollover to IRAs
ⓘ
allows rollover to other qualified plans ⓘ |
| primaryObjective | provide retirement income for part-time and adjunct education employees ⓘ |
| regulator | State of California NERFINISHED ⓘ |
| relatedTo | CalSTRS Defined Benefit Program NERFINISHED ⓘ |
| sector | public education ⓘ |
| sponsor | California public school employers NERFINISHED ⓘ |
| sponsorType | public pension system ⓘ |
| targetGroup | employees not covered by the CalSTRS Defined Benefit Program ⓘ |
| taxQualification | qualified plan under the Internal Revenue Code ⓘ |
| taxTreatment | tax-deferred contributions ⓘ |
| withdrawalOptions | lifetime monthly benefit option ⓘ |
| withdrawalOptions | refund of contributions and interest ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
California State Teachers’ Retirement System Teachers’ Retirement Board
→
governingBodyOf
→
CalSTRS Cash Balance Benefit Program
ⓘ