Despite a stock market downturn that has reduced the earnings of the State Teachers' Retirement System (STRS), CTA is continuing its efforts to boost teachers' pensions.
One of the most cost-effective of the CTA-backed measures, Senate Bill 1983 by Sen. Nell Soto (D-Pomona), has passed the Legislature and is waiting for the governor's signature.
The proposal would increase the amount of money retired teachers may earn from teaching without reducing their pensions. Currently, retired teachers may earn only $23,500 annually without suffering a dollar-for-dollar reduction in their STRS pension. SB 1983 would increase that cap to $25,000 in 2002 and base further increases in that figure on a better index of inflation than is currently used.
In addition, the bill would provide new funding to improve STRS services to its members. The funds would be earmarked for more staff to answer telephone inquiries.
CTA is suggesting that members write the governor and urge him to sign the measure.