Your 26+ Years
As retirement nears, the questions shift from "what might my pension be" to "what will it actually be, and what do I do with these final, permanent decisions."
Get Your Official Benefit Illustration
CalSTRS can provide an official benefit estimate as you approach retirement. Reviewing this alongside an independent projection helps confirm everything lines up and gives you a chance to ask questions before filing.
Benefit Election Options
This is the stage where your benefit election decision becomes immediate and real. Comparing the unmodified option against 50%, 75%, and 100% continuance options - in actual dollar figures - is one of the most important conversations to have before filing.
Remember: This Decision Is Permanent
Once filed, your benefit election generally cannot be undone. Taking the time to review it carefully, with your spouse or beneficiary if applicable, is worth the effort given how long the consequences last.
Spouse and Beneficiary Protection
If you have a spouse or dependent who relies on your income, weighing their long-term protection against your own monthly income is central to this decision. Some teachers are able to maximize their own benefit while still protecting a spouse through other planning strategies - this is worth exploring before you assume it is an either-or choice.
A Pre-Retirement Review Checklist
- Confirm your official CalSTRS benefit estimate
- Compare benefit election options in real dollar figures
- Review any remaining retirement income gap
- Confirm your sick leave service credit
- Discuss healthcare coverage timing