Another bill waiting for the governor's signature is CTA-sponsored AB 1852 (Mullin). As amended, it would allow all STRS members, not just those over age 60, to take a partial lump sum out of their pension.
The bill would also apply the same five-year "sit out" period for Golden Handshake recipients in community colleges and county offices that applies to K-12 educators. However, school districts could hire Golden Handshake recipients from other districts immediately.
Current law requires educators to wait a year before teaching in other districts or forfeit their Golden Handshake deal. Under AB 1852, educators who decide not to sit out for a year would be subject to an earnings limitation of $25,000 for the year. If they do sit out, they can earn their full pension and salary, but cannot return to their home district for five years.