BENEFITS OF YOUR MEMBERSHIP
|
Seek SISC assistance for:
|
|
MORE BENEFITS OF CTA MEMBERSHIP - HIGHLIGHTS
COUPONS AND SAVINGS VIA CTA AND "MYDEALS" APP
AUTO AND HOME/RENTERS INSURANCE
DISABILITY INSURANCE
DEATH AND DISMEMBERMENT BENEFIT
RETIREMENT SAVINGS
AEA Leadership suggests enrolling in CTA's 403(b) plan. What we've learned recently is that not all 403 plans are created equal. For example HERE is a comparison chart of CTA's plan and a bunch of others. You'll notice that monthly and annual fees vary, including commissions and surrender fees.
Here is more information:
https://ctainvest.org/
Look at the online form to sign up. The District Payroll office will also get involved so that they set up an Envoy account that actually takes your tax-free money from your paycheck and puts it in your 403(b) account.
If you want to talk to a financial advisor we recommend talking to someone who is a fiduciary. Cool word, right? This is someone who is trustworthy, honest and has a legal obligation to work for your benefit.
We recommend that you DO NOT meet or talk to random financial advisors that contact you through your district email. These folks are not approved to reach out to staff and may not have your best interest in mind! You can schedule a 20 minute talk with a CTA financial person HERE if you would like or call (916) 235-9800 to get in touch with the folks at Prudent who run this CTA Retirement Plan.
AEA Leadership suggests enrolling in CTA's 403(b) plan. What we've learned recently is that not all 403 plans are created equal. For example HERE is a comparison chart of CTA's plan and a bunch of others. You'll notice that monthly and annual fees vary, including commissions and surrender fees.
Here is more information:
https://ctainvest.org/
Look at the online form to sign up. The District Payroll office will also get involved so that they set up an Envoy account that actually takes your tax-free money from your paycheck and puts it in your 403(b) account.
If you want to talk to a financial advisor we recommend talking to someone who is a fiduciary. Cool word, right? This is someone who is trustworthy, honest and has a legal obligation to work for your benefit.
We recommend that you DO NOT meet or talk to random financial advisors that contact you through your district email. These folks are not approved to reach out to staff and may not have your best interest in mind! You can schedule a 20 minute talk with a CTA financial person HERE if you would like or call (916) 235-9800 to get in touch with the folks at Prudent who run this CTA Retirement Plan.
| 2020_insurance_rate_sheet_-_employee_deductions_per_fte.pdf |
THE WILLIE BROWN ACT
The Pre-Retirement Reduced Service Option (A.K.A. the Willie Brown Act) allows you to reduce your workload from full-time to part-time duties, defined as at least 60% of full time, for up to 3 years with full-time health benefits during that time period. After the 3 years you must retire.
This is repeated article from last year. Many members wonder about this option and very few teachers are taking the opportunity. AUHSD allows 12 teachers per year to participate in this program; 3 teachers at each site..
Because contributions are based on your full-time earnable compensation, you will receive full-time service credit while working less than full time (60%) and getting part-time pay. At retirement, your benefit will be calculated as if you continued to work full time, including determining your final compensation and service credit.
To be eligible for the program, you must:
• Be age 55 or older.
• Have at least 10 years of service credit.
• Have been employed to perform creditable service on a full-time basis for 5 years immediately before entering the program.
After applying for this option with the HR department (by April 30th) and reviewing your qualifications, you must enter into a contractual agreement with AUHSD to participate in the program for the entire school year (up to 3 years). You must have applied by April 30th of the previous school year and, if approved, will begin this option the following school year. For more information see page 37-38 of the AEA contract, visit www.CalSTRS.com, view California Education Code §22713 or email Gail Stern or Amy McNamara at the District Office.
The Pre-Retirement Reduced Service Option (A.K.A. the Willie Brown Act) allows you to reduce your workload from full-time to part-time duties, defined as at least 60% of full time, for up to 3 years with full-time health benefits during that time period. After the 3 years you must retire.
This is repeated article from last year. Many members wonder about this option and very few teachers are taking the opportunity. AUHSD allows 12 teachers per year to participate in this program; 3 teachers at each site..
Because contributions are based on your full-time earnable compensation, you will receive full-time service credit while working less than full time (60%) and getting part-time pay. At retirement, your benefit will be calculated as if you continued to work full time, including determining your final compensation and service credit.
To be eligible for the program, you must:
• Be age 55 or older.
• Have at least 10 years of service credit.
• Have been employed to perform creditable service on a full-time basis for 5 years immediately before entering the program.
After applying for this option with the HR department (by April 30th) and reviewing your qualifications, you must enter into a contractual agreement with AUHSD to participate in the program for the entire school year (up to 3 years). You must have applied by April 30th of the previous school year and, if approved, will begin this option the following school year. For more information see page 37-38 of the AEA contract, visit www.CalSTRS.com, view California Education Code §22713 or email Gail Stern or Amy McNamara at the District Office.