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Cash Balance Benefit Program

Employee Notification and Election–Instructions

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CB 533 rev 8/12

ELIGIBILITY OVERVIEW

• Complete the Employee Notification and Election form

to elect membership in the CalSTRS Cash Balance

The Cash Balance Benefit Program is an optional

Benefit Program.

program for school districts, community college

districts or county offices of education as an

• Print clearly in dark ink or type all information

alternative retirement plan for part-time employees.

requested.

Employers must first elect to provide the Cash Balance

• If you make a mistake, initial corrections or

Benefit Program.

complete a new form.

If an employer elects to provide the Cash Balance

• Sign and date the form.

Benefit Program, it must be available to all employees

• In order for your election to be processed, this form

who are hired to perform creditable service by a:

must be submitted to your district office on or before

1) school district or county office of education, on an

the date specified by your employer. Keep copies for

hourly or daily basis, or employed or contracted for

your records.

less than 50 percent for each full-time position; or

2) community college district, on a part-time or

• If your employer offers Social Security or an

temporary basis (semester to semester), or for not more

alternative retirement plan and you do not elect to

than 67 percent of the hours per week considered a

continue coverage in one of these plans, you will

regular full-time assignment; or 3) governing body of

automatically become a participant of the Cash

an employer, as a trustee member.

Balance Benefit Program.

The basis of employment determines an employee’ s

eligibility to participate in the Cash Balance Benefit

QUESTIONS

Program, not the actual number of hours or days

worked or the aggregation of contracted positions.

or call 800-228-5453.

Your employer will provide you with materials along

This form is available at

with this form describing both the CalSTRS Cash

Balance Benefit Program and the CalSTRS Defined

Return your completed form to:

Benefit Program.

CalSTRS

If you are a current member of the CalSTRS Defined

P.O. Box 15275, MS 17

Benefit Program, you will have a 60-day election

Sacramento, CA 95851-0275

period, determined by your employer, in which to

notify your district office of your election choice. Refer

to section 2 of this form for your election rights.

If you are an employee new to CalSTRS, or an

employee contributing to Social Security or another

retirement plan offered by your employer, except for

the CalSTRS Defined Benefit Program, refer to section 3

of this form for your election rights.

If you have any questions concerning your eligibility for

this election, contact your employer.

Employee Notification And Election-Instructions

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