Can i collect calstrs and social security

For each year beyond these minimums, your Age Factor multiplier increases. With more service credits, you will be able to retire with an Age Factor multiplier beyond the average for your age. Your final compensation depends on years of service credit for CalSTRS and is characterized by the highest average or month earnable compensation. Your final compensation depends on your employment contract or collective bargaining agreement for CalPERS and is based on the highest average or month full-time pay rate.

California educators do not participate in Social Security, but your pension may actually be worth more than the Social Security benefit. In contrast, CalPERS retirees receive a pension up to 5 times greater than Social Security payouts for individuals with an equivalent working history and age. To estimate how your pension may compare to a Social Security retirement benefit, use this Calculator.

You also need to enter the monthly amount of your pension that was based on work not covered by Social Security. If all of your pension income is covered by Social Security, you do not need to use this calculator and you can use the more straightforward Online Calculator instead.

If you will receive a pension based on work not covered by Social Security but you do not have enough earnings to be insured for Social Security benefits, our Government Pension Offset GPO Calculator can tell you how your benefits as a spouse, widow, or widower may be affected. To protect your records from unauthorized users, the Online Calculator is not linked to your record of earnings in our database.

Instead, we ask you to insert your earnings in the calculator. As we develop more secure authentication procedures in the future, we will insert your numbers directly from our earnings database. Note: If your birthday is on January 1st, we figure your benefit as if your birthday was in the previous year.

If you qualify for benefits as a Survivor, your full retirement age for survivors benefits may be different. Today's dollars or future dollars. Your estimated benefit is shown in today's dollars, unless you choose to have it shown in future inflated dollars. If you choose future inflated dollars, the calculator bases the results on our estimates of how inflation could affect your benefit amount.

Use caution when using inflated dollar estimates to determine other retirement income sources you may need. Notice that years in the chart are shown horizontally rather than vertically.

You can tab from year to year and the zeros will be overlaid. For the disability and survivors estimates that follow, we assumed you will become disabled or die in We did not use earnings after in calculating these estimates. Your surviving spouse caring for your child:. Your surviving spouse at full retirement age:. Choosing when to retire is an important and personal decision. The best way to start planning for your future is by creating a my Social Security account.

Learn about investing basics, long-term planning strategies and how to make the most of your retirement. Read more. Learn More. You might also like Retirement Planning Where are you on your path to retirement?