Retirement Planning

 

Planning for retirement involves understanding your pension benefits and opportunities to save additional funds for retirement. This page provides an overview of the retirement plans available to eligible District employees, including CalSTRS, CalPERS, and voluntary 403(b) and 457(b) supplemental retirement savings plans.

Pension Plan

Your pension provides an important foundation for your retirement. Depending on your employment classification, you may participate in either CalSTRS or CalPERS.

CalSTRS
The California State Teachers' Retirement System (CalSTRS) provides retirement, disability and survivor benefits to California's public school educators and their beneficiaries. CalSTRS serves more than 1 million members and beneficiaries and was established in 1913.

For more information please visit: www.calstrs.com

CalPERS
The California Public Employees' Retirement System (CalPERS) administers retirement and other benefits for California public employees. CalPERS currently serves more than 2 million retirement system members.

 For more information please visit: www.calpers.ca.gov 

Supplemental Retirement Savings Plans

In addition to your pension, eligible employees may participate in supplemental retirement savings plans through 403(b) and/or 457(b) plans. These voluntary plans allow you to set aside additional money for retirement through payroll deductions.

Depending on the plan and contribution type, contributions may be made on a pre-tax or Roth basis. These plans can help supplement your pension income and provide additional savings for retirement.

What is a 403(b) or 457(b) plan?

A 403(b) plan is a tax-advantaged retirement savings plan generally available to employees of public schools and certain tax-exempt organizations.

A 457(b) plan is a deferred compensation retirement savings plan available to employees of eligible state and local governmental entities and certain tax-exempt organizations.

For 2026, the basic annual elective deferral limit is $24,500 for a 403(b) plan and $24,500 for a governmental 457(b) plan. Additional catch-up contributions may be available to eligible participants.

Participants age 50 or older may generally be eligible for an additional $8,000 catch-up contribution in 2026. A higher catch-up limit of $11,250 applies to eligible participants ages 60–63, subject to plan rules

Important: Contribution limits are subject to change annually. Please consult the plan administrator for information about your specific plan and eligibility.

Already participating?

You may be able to change your contribution amount during the year. Increasing your contributions—even by a small amount—can help you build additional retirement savings over time.

How do I enroll?

If you would like to begin contributing to a 403(b) and/or 457(b) plan, you must establish an account with an approved investment provider and complete the required enrollment process.

SchoolsFirst Plan Administration serves as the District’s third-party administrator for the supplemental retirement plans and can assist with the enrollment process, contribution changes, and questions regarding plan administration. You may also continue working with your own financial advisor or investment professional if you prefer.

For questions regarding plan administration or assistance with enrollment, please contact SchoolsFirst Plan Administration at (800) 462-8328, ext. 4727, or rpa@schoolsfirstfcu.org.

To schedule an appointment with a retirement planning representative, contact the Retirement Planning Department at (800) 462-8328, ext. 4116, Option 1.