CalSTRS multiplies an age factor by your years of service and final compensation. Under 2% at 62 the factor starts at 1.16% at 55, reaches 2% at 62 and tops out at 2.4% at 65. Under 2% at 60 it reaches 2% at 60 and 2.4% at 63, and members with 30 or more years get a 0.2% career factor bonus up to that ceiling. That is why the percentages climb faster after 60 than service alone would explain.
2% at 60 (first hired before Jan 1, 2013)
| Age | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs | 35 yrs |
|---|---|---|---|---|---|---|
| 55 | 14.0% | 21.0% | 28.0% | 35.0% | 48.0% | 56.0% |
| 56 | 15.2% | 22.8% | 30.4% | 38.0% | 51.6% | 60.2% |
| 57 | 16.4% | 24.6% | 32.8% | 41.0% | 55.2% | 64.4% |
| 58 | 17.6% | 26.4% | 35.2% | 44.0% | 58.8% | 68.6% |
| 59 | 18.8% | 28.2% | 37.6% | 47.0% | 62.4% | 72.8% |
| 60 | 20.0% | 30.0% | 40.0% | 50.0% | 66.0% | 77.0% |
| 61 | 21.3% | 32.0% | 42.6% | 53.3% | 69.9% | 81.6% |
| 62 | 22.7% | 34.1% | 45.4% | 56.8% | 72.0% | 84.0% |
| 63 | 24.0% | 36.0% | 48.0% | 60.0% | 72.0% | 84.0% |
| 64 | 24.0% | 36.0% | 48.0% | 60.0% | 72.0% | 84.0% |
| 65 | 24.0% | 36.0% | 48.0% | 60.0% | 72.0% | 84.0% |
| 66 | 24.0% | 36.0% | 48.0% | 60.0% | 72.0% | 84.0% |
| 67 | 24.0% | 36.0% | 48.0% | 60.0% | 72.0% | 84.0% |
2% at 62 (first hired on or after Jan 1, 2013)
| Age | 10 yrs | 15 yrs | 20 yrs | 25 yrs | 30 yrs | 35 yrs |
|---|---|---|---|---|---|---|
| 55 | 11.6% | 17.4% | 23.2% | 29.0% | 34.8% | 40.6% |
| 56 | 12.8% | 19.2% | 25.6% | 32.0% | 38.4% | 44.8% |
| 57 | 14.0% | 21.0% | 28.0% | 35.0% | 42.0% | 49.0% |
| 58 | 15.2% | 22.8% | 30.4% | 38.0% | 45.6% | 53.2% |
| 59 | 16.4% | 24.6% | 32.8% | 41.0% | 49.2% | 57.4% |
| 60 | 17.6% | 26.4% | 35.2% | 44.0% | 52.8% | 61.6% |
| 61 | 18.8% | 28.2% | 37.6% | 47.0% | 56.4% | 65.8% |
| 62 | 20.0% | 30.0% | 40.0% | 50.0% | 60.0% | 70.0% |
| 63 | 21.3% | 32.0% | 42.6% | 53.3% | 63.9% | 74.6% |
| 64 | 22.7% | 34.1% | 45.4% | 56.8% | 68.1% | 79.5% |
| 65 | 24.0% | 36.0% | 48.0% | 60.0% | 72.0% | 84.0% |
| 66 | 24.0% | 36.0% | 48.0% | 60.0% | 72.0% | 84.0% |
| 67 | 24.0% | 36.0% | 48.0% | 60.0% | 72.0% | 84.0% |
Percent of final average salary, before tax and before any survivor-option reduction. Green cells are unreduced. A dash means you cannot retire yet at that age and service.
Turning a percentage into dollars
Multiply the percentage by your final average salary and divide by twelve. At 60% of an $80,000 average, the pension is $48,000 a year, or $4,000 a month. Highest 36 consecutive months of pay. 2% at 60 members with 25+ years use their highest 12 months. The CalSTRS calculator does the arithmetic for any age, service and salary, and the pension by years table shows monthly amounts at common salaries.
How to use the chart
Find your expected service in the columns and read down to see how the benefit changes as you wait. The jump from one row to the next shows what an extra year at work is worth. When a whole row turns green, that age is unreduced for that service. To find the exact day you reach it, use the retirement date finder.