If a Cash Balance participant is working for three districts who offer the CB Benefit Program will this service be aggregated?
No. Every employer will independently report each Cash Balance participant’s service to CalSTRS as long as the time base for which the employee was hired is less than 50 percent in each district. The employee can remain a CB Benefit Program participant in all districts. Return to top If an employee works in three districts who have taken formal action to provide the CB Benefit Program and one district discontinues CB participation, is the employee still eligible to contribute to the remaining CB Benefit Program employers? Yes. As long as the employee does not elect or is mandated into the DB Program. Return to top If an employee is employed in three districts and elects to participate in the Defined Benefit Program in one of those districts, is the employee still eligible to contribute to the CB Benefit Program? Yes, the employee can continue to contribute to the CB Benefit Program as long as the basis of employment remains 50% or less in each district. Return to top If an employee is
Related Questions
- If a Cash Balance participant is working for three districts who offer the CB Benefit Program will this service be aggregated?
- I am participating in the Cash Balance Benefit Program, can I take advantage of the retirement incentives?
- Can a CB participant rollover money from other retirement plans to their CB Benefit Program?
