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Maverick
Maverick, Civil Trial and Appellate Lawyer
Category: California Employment Law
Satisfied Customers: 6094
Experience:  20 years of professional experience
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I went back to work because my retirement benefits were not

Customer Question

I went back to work because my retirement benefits were not enough to support me. I collected income from the job and income from CAL STRS as well. Cal Strs wrote me a letter stating that in August they will take their money back at 100% each month which totals about $18,000 beginning in August. I recently got terminated from the job in question. I am a teacher not getting the benefit of working during this summer. This means that I will have absolutely no income during the summer and, until I find another job, not for the entire school year. I do, however teach one class at Pierce College. I make $1100.00 per month at Pierce and will not get my first paycheck until October.
My question to you. Is there any way I can continue to collect my retirement checks in august and throughout the next school year? If I can't find another job, I am going to be in serious trouble.
Submitted: 1 year ago.
Category: California Employment Law
Expert:  Maverick replied 1 year ago.
According to their retirement plan, if you return to CalSTRS-covered employment, including substitute teaching, in the California public school system as an employee, an independent contractor or an employee of a third party during the first 180 calendar days after your retirement date, your retirement benefit will be reduced dollar for dollar by the amount you earn up to your benefit amount PAYABLE under your plan during THAT SAME period.
CalSTRS collects the excess earnings by withholding ALL of your gross
monthly retirement benefit until the entire amount owed is collected in full.
So, I am not sure what your monthly benefit amount is but you will have to divide 18,888.00 by that amount and then you will know how many months it will be before you receive payments again in the event that you cannot find another job.
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Please assign a feedback rating so JA will compensate me for my time. You are free to ask follow-up questions thereafter at no charge. Please allow up to 24 hours for a follow-up response if I am signed off.
If, for some reason, you are not satisfied with the answer, I would appreciate knowing why so that I can try to clear up any misunderstanding that may have taken place. Also, if you need a refund, just let me know and I will inform JA on your behalf. Finally, you may request me in the future by beginning the question with "THIS IS FOR MAVERICK".
Thank you for using Just Answer. Best wishes for 2015!