CalSTRS SocialSecurityInfo2

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Your Money Matters PLAN TODAY. ENJOY TOMORROW.
SUMMER 2008
Inside: You’re Forty Something
2 A Lifecycle Fund Could be
You Matter and Your Money Matters
Your Cure For Investment
Paralysis Your Money Matters is a new CalSTRS financial publica- • You’ll work an average of 26 years as a
tion aimed at you, the mid-career and second-career public educator.
3 Climb the Stairs Today— educator in your 40s. We know your responsibilities go • You’ll need up to 90 percent of your final
Mount Kilimanjaro Tomorrow beyond the classroom and include your family, possibly compensation to live on in retirement.
aging parents, your home, and your community.
Your Money Matters will come your way every year
4 Mortgages in Crisis If you’ve already reached your 40th birthday:
with information and tips to help you plan today, so you
• You’ll live to 82.96 years if you’re a man can enjoy tomorrow.
5 Dear CalSTRS: and 83.5 years if you’re a woman.
A Teacher Asks About
Social Security Can You Count on Your Retirement?
Don’t Call Us Boomers If you’re concerned about retirement, you’re not alone.
6 CalSTRS Explains It All For You A recent CalSTRS member poll revealed that health
You straddle the Generation X population and Baby
care, outliving your nest egg and Social Security are big
Boomers, and you view the world, your finances and
7 Teacher Feature
retirement differently from other generations.
retirement concerns. Research indicates you may need
as much as 90 percent of your final pay—depending on
your health care coverage—to retire comfortably.
Generational Characteristics
Have enough money for retirement?
Generation X Baby Boomer
61% of workers
Practical Idealistic
Very confident in 2008
Distrustful Feel privileged
70% of workers
Technically savvy Seek experiences
Very confident in 2007
Skills oriented Value self-education Source: Employee Benefit Research Institute’s annual survey, 2008
Source: The Art of Experiential Communication, 2006
How Will You Spend Your Future?
You’re Pretty Cool You can turn to CalSTRS to help you plan for your
These generational characteristics fall away when retirement years—from learning ways to boost your
Free Gift For You we talk about you as a caring, successful educator. CalSTRS benefit to adding to a supplemental savings
According to a University of Memphis study and program to learning how to make the most of your time
Receive a free Why Wait
a national teacher training author, you are dedi- during retirement.
savings calculator by
cated, creative and positive, relate well to children, Delve into CalSTRS Your Money Matters and see
sending an e-mail request and have patience, possess tact and have a sense of for yourself.
to Pension2@CalSTRS.com. humor. Your students see you as fair, consistent and
This paper calculator will help you having high expectations. Do you have a story idea for Your Money Matters? If so,
figure out how much money you can But, wait, there’s more. You offer the personal touch, please e-mail Communications@CalSTRS.com.
accumulate if you start saving today. are forgiving and are willing to admit your mistakes.

2. A Lifecycle Fund Could Be
Your Cure for Investment Paralysis
Set it and Forget it
The ABCs of
Investment Choices Information to Consider When Choosing a Lifecycle Fund
Investing for retirement can be a Lifecycle funds generally consist of individual mutual funds within the same
perplexing mix of choices: IRAs, fund family that invest in different assets, such as bonds, U.S. stocks and
403(b)s, 457s, annuities, mutual international stocks.
funds and money markets. • Different mutual fund families invest their funds differently, even for the
When you add in concerns about same retirement date. One asset allocation isn’t better than another;
Social Security and health care, there’s however, more stocks usually means more volatility.
no wonder many suffer from invest-
• Costs vary. Funds can charge from $21 for every $10,000 to $78 per
ment paralysis.
$10,000 invested.
A lifecycle fund, which is a special
type of mutual fund, can help you • Some funds charge other fees, such as a front-end commission, which
shake off inertia and take action. immediately reduces the amount of money available for investing.
• The lifecycle fund manager allocates the most appropriate mix for your
Lifecycle Funds Are target date. Be aware that investing in a lifecycle and in outside funds
Easy and Effective may increase your level of risk more than your fund manager intended.
Lifecycle funds, also known as target • Although lifecycle funds may be more diversified than any single mutual
date funds, are designed to follow fund, the diversity may vary among fund families, affecting volatility.
you throughout your working life and
change as you approach retirement.
They frequently start out with aggres-
sive investments and automatically
grow increasingly conservative. You
can set it and forget it.
CalSTRS offers a lifecycle portfolio 40s: mid-career
through the Pension2® Easy Choice Rebalance allocations
Portfolio at www.CalSTRS.com/
Pension2.
CalSTRS Mission: 20s: starting out 60s: retirement age
Securing the financial future
How They Work Heavy with stocks Switch to more bonds
and sustaining the trust of
California’s educators
Once you select your target retirement
Teachers’ Retirement Board date and risk tolerance, a professional
Dana Dillon, Chair
Jerilyn Harris, Vice-Chair money manager takes over, calculating
Kathy Brugger the initial allocation and periodically
John Chiang
Michael Genest rebalancing that allocation as your
Harry Keiley retirement date nears. Watch Out for Fees plan keeps your costs low with
Roger Kozberg
Bill Lockyer While in your 20s, lifecycle funds The flip side to the ease and conve- reduced fees and expenses and by
Jack O’Connell
Peter Reinke
are heavy with stocks—generally a nience of a lifecycle fund is the fee selecting funds that are no-load and
Beth Rogers more risky but higher yielding invest- structure. Keep your eye on the costs, no-commission. You never have to
Carolyn Widener
ment. As you approach your 50s and which frequently are hard to find. guess about our fee structure because
Jack Ehnes
Chief Executive Officer eventually retirement, the lifecycle Costs are key because in long-term we tell you up-front what the fees are.
Christopher J. Ailman fund’s level of risk is gradually and investments such as these, higher
Chief Investment Officer automatically reduced because it costs can have a substantial impact on The Next Generation
Lynette Blumhardt switches to more conservative your retirement nest egg. From CalSTRS
Editor
Statements in this publication
bond investments. CalSTRS Pension2 personal wealth The CalSTRS Pension2 Easy Choice
are general and the Teachers’ lifecycle portfolio merges time
Retirement Law is complex and
specific. If a conflict arises between Benefits of horizon with risk tolerance and
information contained in this
publication and the law, any decisions Compounding Value at age 65 if investing starts . . . includes various mutual fund fami-
will be based on the law. lies. These features offer greater
Monthly diversification than most lifecycle
Your Money Matters is published once Current age Today In 3 years In 10 years
a year for active CalSTRS members contribution
and Cash Balance participants. Send funds. The funds are chosen and
your comments or suggestions to: 40 $100 $78,747 $61,014 $31,286 monitored by CalSTRS investment
Editor, Communications, M.S. 34 45 $100 $51,014 $38,397 $17,202 pros—the same people who invest
P Box 15275
.O.
Sacramento, CA 95851 50 $100 $31,286 $22,272 $7,160 your Defined Benefit portfolio.
Source: Why Wait savings calculator, 2007, available free from CalSTRS. See offer on the front page of this newsletter.
printed on recycled paper Note: This hypothetical illustration uses an assumed yield of 7 percent.
2 www.CalSTRS.com

3. It’s An Adventure
Within travel, adventure travel is a growing
trend. If you want to climb Mount
Kilimanjaro or bike through the wine
country, regular exercise now will help you
get there.
By The Numbers
Climb the Stairs Today— • One-half of U.S. adults, or 98 million
people, have taken an adventure trip
Mount Kilimanjaro Tomorrow in the past five years.
• This includes 31 million adults who
engaged in hard adventure activities
like whitewater rafting, scuba diving
30 Quick Minutes It’ll Make You Feel Good and mountain biking.
How much exercise do you need now to get healthy The physical benefits range from lookin’ good to • A full 52 percent of adventure
and stay healthy into your later years? lowering the risk of some illnesses, such as: travelers are women.
• 30 minutes of moderate exercise each day. • Heart disease, • 41- to 60-year olds make up the
highest participating age group.
• Three 10-minute intervals provide the same • Cancer and
• Highest year-to-year, increased
benefits. • Diabetes.
consumer regional interest is
Moderate exercise includes activities that make you The mental health benefits include reduction of: South America.
out of breath but not sweaty like gardening, brisk
— • Stress and Source: the Adventure Travel Report, 2008
walking or cycling.
• Depression.
Source: American College of Sports Medicine
and the Centers for Disease Control and Prevention
And Prevent Mental Decline The Web site, adventurelogue.com
Another study found that regular exercise in midlife defines adventure travel as:
A Northern Arizona University study reduces the possibility of dementia by 50 percent and intentionally going beyond your
Alzheimer’s by 60 percent. Specifically, the researchers normal known area, seeking out
concludes that 10 minutes of exercise suggest that exercising as little as twice a week will
experiences which are unfamiliar.
can lift your mood. provide positive results.
One analyst believes that the study makes the case
for beginning good health habits early.
Keep Your Security Information Safe
• Get a summary of medical benefits • Sign up for the national Do Not Call unsolicited e-mail or other type of
paid in your name each year. Registry at www.donotcall.gov. electronic communication.
• Keep copies of medical records. • Sign up for the Direct Marketing • When you use the CalSTRS
• For more information, go to Association’s Mail Preference Service Web site, you agree to our terms
www.worldprivacyforum.org. at www.dmaconsumers.org to reduce and conditions available at
junk mail and junk spam. www.CalSTRS.com/help/privacy.
Medical Identity Theft Stop Unwanted Solicitations • Delete spam. – Use of our Web site is anonymous,
An estimated 250,000 Americans You can slow the onslaught of unwanted • Visit www.junkbusters.com/fax.html unless otherwise specified.
have their medical ID stolen each year, phone, e-mail, fax and mail solicitations, to find out how to reduce junk faxes. • CalSTRS securely transmits your
according to the World Privacy Forum. advises the California Department of warrant for direct deposit.
Thieves may use your medical information Consumer Affairs, by exercising these Protect Your CalSTRS Information
to receive health care or sell prescription consumer tips: CalSTRS uses your personal information
drugs. Protect yourself: • Stay off marketing lists. only to conduct CalSTRS-related business.
• Give health insurance info – Don’t fill out consumer surveys, • CalSTRS will never ask for your
to trusted providers. sweepstakes or warranty personal information in an
registration cards.
SUMMER 2008 www.CalSTRS.com Your Money Matters 3

4. Mortgages in Crisis
If you own a home, you may be worried about its value, or you
may find yourself struggling with a high or adjustable interest
rate. If you want to purchase a home, you may wonder if the
market will ever settle down.
Here’s what two financial experts have to say:
“I’m not minimizing the risks in the housing market because
they’re very real in many locations. Nor am I predicting any sort
of miraculous turnaround in the next six months, since I doubt
that we’ll see that happen.
But I’m still a believer in the long-term viability of housing as
a solid investment if you buy at the right price.”
l Suze Orman, March 2008
od kin
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ck photo.c
om/Ale “Residential real estate cannot be counted out as a smart invest-
©iSto
ment or maybe even as the smartest one you’ll make.
Patience remains the watch word when buying real estate.
If You’re Concerned About Foreclosure Even if you buy at the peak, if you wait long enough, you will
generally make out well … If you expect to turn it over quickly
and consistently for a profit, you are taking a risk. On the other
Resources hand, the present real estate situation presents a rare and envi-
able long-term opportunity.”
Many borrowers who obtained subprime mortgages are now at great risk of foreclosure l Ben Stein, June 2008
and the loss of their home. We can’t give you advice, but we can provide resources:
Hang in there.
Homeownership Preservation Foundation: www.995hope.org
Tips for Avoiding Foreclosure: www.hud.gov/foreclosure/index.cfm
CalSTRS Offers Home Loans to Members
California Government Web site: www.yourhome.ca.gov/
The CalSTRS Home Loan Program offers a number of home
loan options to members, including loans to purchase a home,
Avoid Foreclosure as well as refinances of existing mortgages. We have agreements
with several lenders who provide 15- and 30-year fixed rate
1. Don’t ignore the problem.
loans, as well as a down payment assistance mortgage program,
2. Contact your lender as soon as you realize you have a problem.
for the purchase of single and various multi-family dwellings.
3. Open and respond to all mail from your lender.
Rates are set daily by CalSTRS.
4. Know your mortgage rights.
Qualified CalSTRS members can borrow up to $417,000 or
5. Understand foreclosure prevention options.
$650,000, depending on the program.
6. Prioritize your spending.
To qualify to apply for a home loan, you must be a CalSTRS
7. Use your assets.
member or an employee of a public school and the loan must
8. Avoid fee-based foreclosure prevention companies
be for your primary residence within California.
9. Don’t lose your house to foreclosure recovery scams.
Go to www.CalSTRS.com/homeloanprogram for details.
Source: the U.S. Department of Housing and Urban Development, 2008
The Subprime Mortgage Collapse Has
Foreclosure Q & A Had Little Affect on Your Retirement Fund
What is Foreclosure? Your CalSTRS retirement fund’s exposure to losses arising
Foreclosure is a legal action used by a mortgage company to recover any money from the subprime market has been minimal. You can’t get an
from a customer when the customer does not pay his or her debt in accordance with adjustable-rate or subprime mortgage loan from the CalSTRS
the mortgage agreement. In other words, it’s the legal remedy used by a mortgage Home Loan Program because we simply don’t offer them and
company to assume ownership of a property when the required loan payments are never have.
not made. Foreclosure obliterates otherwise good credit.
What’s Mortgage Insurance?
How Does Foreclosure Happen?
Mortgage insurance is a policy that protects lenders against
Although the actual process varies from state to state, a foreclosure is initiated due to
some or most of the losses that can occur when a borrower
a borrower’s inability to keep up with monthly mortgage payments over a period of
defaults on a mortgage loan. Mortgage insurance is required
four to six months. The farther behind the homeowner gets with monthly mortgage
primarily for borrowers with a down payment of less than
payments, the closer to foreclosure the homeowner becomes.
20 percent of the home’s purchase price.
Source: U.S. Department of Housing and Urban Development, 2008
Is Anyone Exempt From Foreclosure?
No. Everyone with a mortgage is subject to foreclosure if they fail to make their
monthly payment on an ongoing basis.
Source: Homeownership Preservation Foundation, 2008
4 www.CalSTRS.com

5. dear CalSTRS your Social Security—but not your CalSTRS check—
Teacher Asks About Social Security could be reduced or eliminated altogether.
From what you’ve told me, it sounds like your
Short Answer: If You Don’t Pay in, friend didn’t earn Social Security from non-CalSTRS
You’re Not Eligible work and may not be eligible through her husband.
For information on your specific case, please go to
www.socialsecurity.gov.
What you can do now
Dear CalSTRS: can take the 6.2 percent they don’t have deducted
One suggestion is to take advantage of the 10 work
from their paycheck for Social Security and put it in
I’m a classroom teacher in southern California. A years you have ahead of you to open a supplemental
their own savings program, like a 403(b) or IRA.
friend of mine who taught at my school just retired in savings plan, such as a 403(b) or IRA. Sock some
June. She spent her entire career in the classroom and money away for your future.
loved it. But she was surprised to find out she didn’t Other work or your spouse’s work
More info is available at www.CalSTRS.com/
get any Social Security for herself when she retired. You could be eligible for Social Security from other Pension2.
This scares me because I’ve got about 10 good nonteaching jobs you’ve held or from a spouse. If
years before I retire. I always counted on Social Secu- you qualify because of work you’ve done, your Social Do you have a question to be answered in the Dear
rity for my teaching, along with my teacher pension. Security check—but not your CalSTRS check—could CalSTRS feature? If so, please e-mail your question to
The friend who just retired is married and her be reduced, or offset, but it will not be eliminated. If Communications@CalSTRS.com. If you have a general
husband is a retired grocery store manager. Does his you qualify through a spouse’s Social Security benefit, question or one about your personal account, please go to
Social Security check have some affect on her? www.CalSTRS.com/contact.
Signed— CalSTRS Differs from Social Security
Not Secure in SoCal
CalSTRS pension Social Security
Dear SoCal: Beneficiaries are California public educators who earn Beneficiaries include all private and some public
There’s a lot of misunderstanding among public creditable service workers who pay into Social Security
educators about Social Security. Retired California
public school teachers receive no Social Security A pre-funded system enhanced by investment earnings A pay-as-you-go system with no investment earnings
benefits for their income from CalSTRS-covered
teaching. Here’s how it works: Lifetime benefit based on a specific formula Benefit based on a complex three-tiered formula
Public educator work A California defined benefit earned by virtue of A federal insurance program that represents a promise
employment with the specific entity that agrees to provide from the federal government to provide a basic benefit
As a full-time public school teacher in California, you benefits in exchange for the services of the employee in retirement
don’t pay in to Social Security, so you don’t get Social
Security benefits from teaching when you retire. Worker contributes 8 percent of salary Worker contributes 6.2 percent of salary
California’s public educators made the decision in
1955 to stay out of the program, primarily because Minimum retirement age is 50 with 30 years of service Minimum retirement age is 62 for a reduced benefit
CalSTRS benefits were better. Theoretically, teachers or 55 with 5 years of service Full retirement age is 65-67 for a maximum benefit
Source: CalSTRS is Teachers’ Sole Retirement, 2007
Forty-Somethings’ Advise: Invest and Save Sooner
Which retirement issue would you advise a younger colleague to follow?
CalSTRS conducted an online poll
Choices Responses Percentage
between December 17, 2007, and
Investing, sooner than later 347 39% March 10, 2008, and posed this
Rising health care costs 126 14% question: “As an active educator
Paying down debt 113 13% between the ages of 40 and 49,
Working after retirement 61 7% which one of the following retire-
ment issues and concerns would you
Financial education 56 6%
advise a younger colleague to give
Effects of inflation 54 6% primary attention to when planning
Long-term care 43 5% for retirement?”
Downsizing lifestyle 26 3%
Other 59 7%
(Percentages are rounded.)
SUMMER 2008 www.CalSTRS.com Your Money Matters 5
photos this page © 2008 Jupiterimages Corporation

6. CalSTRS Explains It All For You
CalSTRS Pension2® Personal Wealth Plan: What’s a 403(b) What’s Tax Deferred?
Your First Step to a Brighter Financial Future and 457(b)? Tax-Deferral Delays Your Tax Liability
GeT STARTeD HeRe Under a tax-deferred retirement plan, you don’t
A 403(b) Offers Special Tax Benefits
Planning for the future isn’t complicated. pay taxes on your contributions or investment
Start saving today. A 403(b) is a tax-deferred investment plan that earnings, but delay any possible tax liability until
public schools offer to their employees. It’s named you retire or withdraw from your account. Paying
Your first step is to get the information you need about the
after the 403(b) section of the Internal Revenue the tax later when your income is smaller could
new CalSTRS Pension2 personal wealth plan. Read more at
Code. The CalSTRS Pension2 is a 403(b). Your result in a reduced tax bill.
www.CalSTRS.com/members/pension2.
contribution is deducted from your pay check
Yes, it is just that easy before it is taxed so you see a savings right away.
E-mail: Pension2@CalSTRS.com
Fax:
Phone:
916-229-4202
888-394-2060
457(b) is Similar to a 403(b) What’s a Defined Benefit?
A 457(b), often called a deferred compensation
Mail to: CalSTRS, P Box 15275, M.S. 44
.O.
plan, is similar to a 403(b), but with different CalSTRS Defined Benefit Is Guaranteed
Sacramento, CA 95851-0275
rules. It is named after the 457(b) section of Your CalSTRS pension is a guaranteed monthly
the Internal Revenue Code. benefit based on a formula, not the amount of
money you have in your account.
CalSTRS Pension2
Your first pension is your CalSTRS Defined
Benefit. Pension2 is a CalSTRS-administered
supplemental savings plan.
ment
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6 www.CalSTRS.com

7. Money Can’t Next year I plan to use our great new science
and social studies adoptions to meet state
Buy You language arts standards. It’s a great way to
make these curricular areas a bigger priority
Love, But throughout our school day.
©iStockphoto.com/Murat Koc
It Can Buy — Wendy Weller, elementary teacher, Elk Grove
Service Credit
Service Credit Is Important
Service credit is the number of years you earn while you work
as a teacher or school administrator in public schools and
contribute to CalSTRS before retirement. The more service
credit you have, the greater your retirement benefit.
Three teachers were asked:
Your retirement benefit is figured on this formula:
I will focus on being a better What will you do differently
communicator to the students
Your service credit x Your age at retirement x and my colleagues. The individual next year as an educator?
Your final compensation = Your Retirement Benefit who has the ability to
communicate clearly and
An increase in any of these factors, including service credit, may effectively will create a
increase your benefit. cohesive environment
Incentives to retire with as much service credit as possible and enhance the
include: learning opportunities
• 25 or more years of service credit gives you the one-year and experiences of
final compensation calculation. Otherwise, the three-year everyone.
calculation applies. — Eric Anson, elementary
• 30 or more years of service credit gives you a career factor teacher, Rancho Cordova
boost of up to 0.2 percent.
• 30 years or more of service credit may give you a longevity
bonus of up to $400 per month if you earn 30 years of
service credit by January 1, 2011. I had an absolutely outstanding school year;
therefore, there is little I plan to change. I will
How to Get More Service Credit continue to introduce new poems, literature and
writing prompts and will learn along with my
• Work more years. students. I’ll attend workshops because the way
• Within certain restrictions, make these kinds of service to stay excited about teaching is to be excited
credit purchases: about learning.
– Permissive credit for nonCalSTRS activities, such as — Margaret Karl, secondary teacher, Elk Grove
substitute teaching or active military service
– Nonqualified service credit, or “air time”
~ Nonqualified service credit doesn’t qualify you for
the career factor, longevity bonus or the 25-year
Funny About Money
threshold final compensation
– Redeposit previously withdrawn CalSTRS contributions.
The Cost of Service Credit
Costs to purchase service credit differ depending on the kind of
service credit you want to buy. It will cost less if you purchase
service credit early in your career. In general, the sooner you
buy service credit, the better.
Calculate the Cost
Calculate the cost of purchasing service credit at
www.CalSTRS.com/calculators. Schedule to attend a CalSTRS
workshop or a benefits counseling session at 800-228-5453.
Sample calculations are available in Purchase Additional Service
Credit at www.CalSTRS.com/publications.
Steve Kelley Editorial Cartoon © 2008 Steve Kelley. Used with the permission of Steve Kelley and Creators Syndicate. All rights reserved.
SUMMER 2008 www.CalSTRS.com Your Money Matters 7

8. PRSRT STD
U.S. POSTAGE
M 79
Y84 PAID
PERMIT NO. 25
SACRAMENTO, CA
CalSTRS Resources
Web sites www.CalSTRS.com
Click Contact Us to e-mail
black
www.403bCompare.com
Call 800-228-5453
7 a.m. to 6 p.m.
Monday through Friday
TTY 916-229-3541
866-384-4457
Home Loan Program white
888-394-2060
Pension2®
Write CalSTRS
P Box 15275
.O.
Sacramento, CA 95851-0275
Fax 916-229-3879
myCalSTRS:
Your Personal Information Quick, Current and Paper-free
“Logging onto myCalSTRS was easy. I found myself with
tremendous access to all sorts of valuable information
about retirement and planning for my future.”
—Alan Sitomer, high school teacher and
2007 California Teacher of Year
How easy is it to register for myCalSTRS? Free Gift
MyCalSTRS gives you access to secure information about your CalSTRS For You
account anytime, day or night. Receive a free
Why Wait savings
• Review your benefit choices
calculator by sending an e-mail
• Update your mailing address and telephone number request to Pension2@CalSTRS.com.
(Level II access) This paper calculator will help you
• Ask questions about your account and receive figure out how much money you can
prompt, confidential answers. accumulate if you start saving today.
You check your bank statement online. Why not do the same with your
CalSTRS account?
To register, go to www.CalSTRS.com and follow the step-by-step directions.
If you’re already registered, you can log on right away.