UPDATE – Thinking of retirement? Want to know what will happen to your status with California Casualty and/or The Standard? Here are contacts for each:
California Casualty – 1-877-711-9653
The Standard 1-800-522-0406
After winter break the district will be sending out individual estimates of amounts and a choice of payment options to everyone who is eligible.
This incentive is completely separate from your STRS. It isn’t reported to STRS as income and it isn’t listed as part of your final year’s income.
You have to be at least 55 years old and have at least 10 years in the district to qualify for it.
The deadline for retiring/resigning is Feb. 14th (You will still work to the end of the year.) So if you are considering taking advantage of this, start talking about it with STRS and with your financial advisers.