Retirement- There is something here --- young and old

posted Feb 4, 2015, 7:04 PM by Yuba City Teachers Association
Hello YCTA

Retirement?
  There is something for 
  • everybody, plus those
  • considering retirement this year and those who have
  • worked in the private sector and accumulated Social Security quarters.
Everybody should -- create a STRS log-in to access your annual report from STRS.  You should review your information for accuracy.  You will not receive a copy in the mail as in years past.  Plus you can access lots of good information about retirement.  You will be able to calculate your anticipated income using the STRS calculator, change your beneficiary, make an appointment with a STRS counselor and much more.  Do it today and protect your future.  Our defined benefit pension is precious.  Go here.

Considering retirement this year....

In order to qualify for early retirement options, you must notify the District by March 1.  March 1 is Sunday so you may still notify the District of your intent on Monday no later than 5PM.  Please refer to Article 27 regarding early retirement options.  Both the printed and on-line versions of the Contract refer to a March 1 deadline to be eligible for medical benefits until age 65. The one-time 25% buy-out option still refers to a date in May. However there was an earlier agreement several years ago moving that date to March 1.  This change was unintentionally omitted in the previous version of the contract.  If you were considering the one-time 25% option and are not yet prepared to make a decision, please notify me so that we can work to protect your right to that option with an extension that is consistent with the only version of the contract available to you.

Are you counting on Social Security to supplement retirement income - CAUTION.  You need to get more information about the Government Pension Offset (GPO).  Your social security income will be reduced because of your government pension.  NEA, our national CTA equivalent, has been lobbying and fighting to eliminate this unfair and for some disastrous Federal law.  If you know or think you will be impacted by this law, please tell your story.  CTA and NEA continue to gather those stories to bring the very real harmful impact to life for our elected legislators and their staff.  Tell your story and change this law. Click here to go to NEA for more info.

Reminder: CTA Retirement Workshop Feb. 11 from 4:30 - 7:00 PM at Boyd Hall.  RSVP by calling CTA at 755-2082 or emailing kcheney@cta.org

For those of you considering retirement, your years of service to our students are one of your greatest gifts to the future.  We thank you for that service.  

And for those of you not, I hope that you may continue loving the work we have chosen as professional educators as you continue onward. 

Let me know if there is anything else we can do to support you.  

Stay in touch,
Dina
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