The California State Teachers’ Retirement System (CalSTRS) does pretty well for those who make a long career of teaching. The average teacher who retired in 2016 will receive $52,428 – about 60% of his or her final working salary.
But as Max Marchitello points out at TeacherPensions.org, that benefit comes at the expense of teachers who will receive nothing from CalSTRS, or less than they contributed to the fund while teaching.
The system is only 69% funded and required bailout legislation last year, but don’t think CalSTRS is suffering in the interim. It is planning a $181 million, 10-story office tower to sit alongside the $266 million, 13-story tower it completed in 2009.