News Briefs | FYI | Oct. 31, 2022

Association of California School Administrators

News Briefs | FYI

October 31, 2022

CalSTRS sends supplemental benefits to qualifying retirees

Due to exceptionally high inflation, the California State Teacher’s Retirement System (CalSTRS) began sending supplemental payments to a new group of retired members starting Oct. 1. Members who retired before 2005 are now eligible to receive a Supplemental Benefit Maintenance Account payment, which is issued quarterly.

The following FAQs are to help understand what is different and who will be seeing a change in their benefits. CalSTRS encourages direct deposit to help avoid missing a payment in the mail. Members can sign up at www.calstrs.com/sign-up-for-direct-deposit.

What is the Supplemental Benefit Maintenance Account payment for retired members? The SBMA helps ensure member benefits keep pace with inflation and provides a second payment in addition to established benefits to ensure retired members retain 85 percent of their purchasing power with their benefits. These second checks are issued in the same manner as the members’ chosen way to receive their monthly benefit (either mail or direct deposit). SBMA payments are issued quarterly.

How has the latest inflation spike impacted the SBMA payments? Due to the high level of inflation, members who retired in 2005 or earlier will now be receiving SBMA payments. Roughly 50,000 retired members and beneficiaries will receive SBMA payments for the first time in October bringing the total recipients to almost 112,000.

I retired after 2005. Will I see a benefit? No. This only applies to members who retired before 2005 that have lost some of their purchasing power due to inflation. Eligibility is reviewed automatically and there is no need to contact CalSTRS if you retired after 2005.

How will I know if I am eligible to receive an SBMA check? CalSTRS will issue a letter confirming your eligibility and you will receive either a second check in the mail or direct deposit. Due to the established 2 percent increase, plus adjustment for the inflation spike, the SBMA payment increased by 8.3 percent of the member benefits.

Is this the result of recently passed legislation Senate Bill 868? No. These FAQs address the already established SBMA allocation. The new law, SB 868, only applies to members who retired before 1999 so their purchasing power may keep pace with inflation. Additional information about the new law taking effect July 1, 2023 will be issued soon.

FYI

ACSA seeking nominations for Negotiator of the Year

ACSA is accepting nominations for the 2023 Negotiator of the Year, which will be presented during the Negotiators’ Symposium, Jan. 18-20 in San Diego. This recognition is awarded by the ACSA Human Resources Council to the person serving as chief negotiator for a school district or county office as a full-time employee of that district. For more information on selection criteria and to fill out the nomination form, visit www.acsa.org/negotiatoraward. Nominations are due by Dec. 31, 2022.

Join ACSA’s new K-12 site admin networking series

ACSA has launched the K-12 Site Administrators Leadership Network, a new series sponsored by the ACSA Elementary, Middle Grades and Secondary Education Councils in collaboration with NAESP & NASSP. Each session will feature an essential leadership priority based upon statewide input from school site leaders. Breakout rooms will be available for grade span specific focus. Join this free opportunity to learn from and network with colleagues around the state. The next session is 4-5 p.m. Wednesday, Nov. 9. To register, visit onlinelearning.acsa.org.

Students can sign up for CalOES program

LEAs are encouraged to share the CalOES Preparedness Ambassadors program with students, who can sign up today to join. This free program offers a curriculum designed to engage fourth-grade students to develop and promote disaster preparedness guidelines for their homes, school and local community. Find more information on the CalOES website.