Benefits & Risk Management » Retirement Information

Retirement Information

 
The CARES Act
 
U.S. Congress passed The Coronavirus Aid, Relief, and Economic Security Act (The CARES Act) on March 27, 2020. The CARES Act allows participants of eligible retirement plans to access their funds penalty-free, defer loan payments or skip unwanted required distributions if they are facing financial challenges due to COVID-19.
 
For more information on The CARES Act, including who is eligible and which retirement plans are eligible, please see the flier below from the District's third party administrator, SchoolsFirst Plan Administration, LLC.
 
If you have any questions, please contact SchoolsFirst Plan Administration at 800-462-8328, ext. 4727.

 

Retirement/Pension: One of the many benefits of joining the San Jacinto Unified School District is that you get to participate in one of our retirement systems. Participation in a retirement system is determined by the type of assignment you hold, as defined by statute or by previous membership. The chart below illustrates the retirement system options available, depending on the types of assignment the employee holds. The District also offers supplemental retirement options such as 403b and 457b Tax Sheltered Annuities.  Please click on SchoolsFirst Retirement Page  for more information.

 

 

 

 

 

 

If Your Assignment is:

Your Retirement Option is:

Election Method

Website

Certificated or Certificated Management

 

  • California State Teacher’s Retirement System (CalSTRS)
  • Defined Benefit Plan
  • Certificated employees currently enrolled with California Public Employee’s Retirement System (CalPERS), may elect to remain in CalPERS.
  • Automatically assigned to CalSTRS; No Election form required
 
  • Requires submission of a CalSTRS Retirement System Election form to Personnel Services within 60 days of the effective date of employment with SJUSD.

www.CalSTRS.com

 

 

www.CalPERS.ca.gov

Substitute Certificated or Certificated Management Employee:

  • The Accumulation Program for Part-time and Limited-service Employees(APPLE)
  • California State Teacher’s Retirement System (CalSTRS) Defined Benefit Plan
  • Automatically assigned to APPLE; No Election form required
 
  • Employee Election at any time; Must complete Permissive Membership form with Personnel Services

https://www.keenan.com/public-agencies/keenan-financial-services/apple/

   

www.CalSTRS.com

Permanent Classified or Classified Management Employee:

 

 

Under 1000 work

hours in fiscal year:

  • The Accumulation Program for Part-time and Limited-service Employees 
(APPLE)

 

1000 work hours or more

in a fiscal year:

  • California Public Employee’s Retirement System (CalPERS)
  • Automatically assigned to APPLE; No Election form required
 
  • Automatically assigned to CalPERS; No Election form required

https://www.keenan.com/public-agencies/keenan-financial-services/apple/

    

www.CalPERS.ca.gov

Substitute Classified or Classified Management Employee:

Under 1000 work hours in fiscal year:

  • The Accumulation Program for Part-time and Limited-service Employees (APPLE)
  • 1000 work hours or more in a fiscal year: California Public Employee’s Retirement System (CalPERS)
  • Automatically assigned to APPLE; No Election form required
   
  • Automatically assigned to CalPERS; No Election form required

https://www.keenan.com/public-agencies/keenan-financial-services/apple/

  

www.CalPERS.ca.gov

...

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Understanding Your 403(b)