What is the Defined Benefit Supplement Program?
Assembly Bill 1509 (Chapter 74, Statutes of 2000) established the Defined Benefit Supplement Program. This is an additional benefit for active CalSTRS Defined Benefit Program members. It is designed to provide you with a lump-sum cash or monthly annuity benefit in addition to your benefits from the DB program at no extra cost to you. AB 1509 requires that 1/4 of your 8 percent CalSTRS contribution be allocated to your new account. At retirement, disability, death or one year following termination of CalSTRS-covered employment, the funds in your account will be available to you or your beneficiary, whichever is applicable.
Assembly Bill 1509 (Chapter 74, Statutes of 2000) established the Defined Benefit Supplement Program. This is an additional benefit for active CalSTRS Defined Benefit Program members. It is designed to provide you with a lump-sum cash or monthly annuity benefit in addition to your benefits from the DB program at no extra cost to you. AB 1509 required that 1/4 of your 8 percent CalSTRS contribution be allocated to your new account from January 1, 2001 to December 31, 2010. At retirement, disability, death or six months following termination of CalSTRS-covered employment, the funds in your account will be available to you or your beneficiary, whichever is applicable.
