STRS members just days shy of qualifying for one of the key benchmarks may now use up to two-tenths of unused sick leave to count towards qualifying for one-year final compensation, longevity bonus and other benefit enhancements.

SB 102 allows up to two-tenths of one year of unused sick leave (approximately up to 36 days maximum) for qualifying for key longevity bonuses.  Before this bill was enacted, members who were just days short of qualifying for the 30, 31 or 32 year benchmarks, had to work the requisite number of days in order to receive the benefits of meeting those benchmarks.  Through an agreement with PFT and the District, we were able to accommodate those requirements, usually with some sort of summer-school work.  Now those members may use unused sick leave to meet those days.

For example:  Member A has 29.95 years of service as of June 30, 2005 and wishes to retire.  The benefits of meeting 30 years of service upon retiring are significant (.2% additional age factor and $2,400 per year longevity bonus).  The .05 difference in years of service translates to approximately 10 additional days of service.  This bill allows the member to use 10 days of unused sick leave to reach the 30-year benchmark without working the additional days, thus allowing the member to retire on June 30.  Access more information on SB 102.

You should research all retirement decisions thoroughly.  PFT recommends the calstrs webpage (www.calstrs.com) as an important retirement-planning tool.