November 5, 2018
Leaders in Action
By Gayle Olson, ACSA Retirement
Committee
What does the word “retired” mean?
You’re tired and then you’re retired, or tired
again, or you’re tired some more? I prefer
the Spanish word “jubilada” from the Latin
root meaning joy and jubilation. We want
to let you know that the ACSA Retirement
Committee is composed of people who are
very active, ready to serve and ready to pro-
tect your retirement benefits.
Retirement can be very challenging for
some of our retired educators. For example,
Roger is a retired educator who retired after
33 years of service at the age of 61. He was
born in 1928 and retired in 1989. Roger has
been retired for 28 years. At the wonderful
age of 88 today, he finds himself living on
$46,128. His service credit of 33 years times
his age factor of 2.2 times his earnings of
$3,750 at the time of his retirement plus
his Supplemental Maintenance Benefits
Account amount (rule of 85 percent pur-
chasing power) and his 2 percent non-com-
pounded annual increase of about $12,528,
gives him only $46,128 income a year.
Let’s make another point. Betty Anne
worked in education for 25 years and retired
at an age factor of 2.0. But Betty Anne was
born in 1915. She is one of the 350 retired
CalSTRS members who is over 100 years
old. She has been retired for more than
40 years. When she retired her salary was
roughly $10,000 and her retirement ben-
efit is about $500 per month. Even with
her Supplemental Benefit Maintenance
account amount of about $2,000, she earns
about $29,000 per year.
Although Betty Anne is an outlier by
age, that situation should not exist for any
of our retires, who have devoted many years
to serving the needs of students. Think
about the poverty level of $11,770 and the
Medicaid eligible level of $16,243 as well
as the low income level for one person
being $17,820 in relationship to our pen-
sions. We do not want our former dedicat-
ed teachers and administrators living near
the poverty level or at low income levels.
One of the Retirement Committee’s bold
goals includes increasing the Supplemental
Benefit Maintenance Account amount from
85 percent to 91 percent.
We need more stories. If you have a par-
ent, aunt, uncle, distant relative or friend
who fits this situation, we want their contact
information. Assure them that we can use
their names or use an alias. Please contact
us at [email protected] with your
story and/or their stories.
n n n
EDCAL 5
Leaders in Action is an occasional feature
of EdCal, featuring reports and articles from
ACSA state committees and councils.
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ACSA 2019 PERSONNEL INSTITUTE
OCTOBER 2-4, 2019 | LONG BEACH, CA
REGISTER TODAY: https://goo.gl/FqUdXF
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Building a Successful Attendance Plan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Riverside
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