The Professional by EGEA
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The Professional 

Volume 24                              February 2016

Retirement Investments


Savings Vs. Investing for Your Retirement

Are you saving for or investing in your future? Savings accounts are an important part of financial health, but investing in your retirement is just as important, at ANY age. Saving is typically for short term purposes (5 or less years). It involves minimal risk and easy access to cash and may also serve as an emergency fund. Investing, however, typically involves a longer term goal (more than 5 years) and helps to grow your money, but it may also involve higher levels of risk or less access to your cash.

As a public school employee, you pay into the California State Teacher Retirement System (CalSTRS), which will provide you a defined benefit upon your retirement. Members who retired in the 2014-2015 fiscal year averaged $4,142 as their monthly member-only benefit! Of course this all depends on your personal calculation of years of service, age, and final compensation. Considering this, as well as the lifestyle you will want in retirement, you might consider additional opportunities to make investments that would supplement your CalSTRS retirement income. There are many options for retirement investment that you should research. In particular, you might consider options such as employer based tax deferred investment opportunities, such as a 403b or 457, or an after tax investment, such as a Roth product.

If you are interested in more information about employer based tax deferral products, you can visit the District website HERE.  Scroll down to the section titled Tax Deferred Programs. The Notice of Eligibility to participate in Tax Deferred Programs will show some of the differences between the possible options, such as a 403b or 457.

ALWAYS do your homework before committing to a specific product. Visit the website to help you research which company and product might be the best investment for you. Both 403 and 457 products are listed on this site. There you can find objective information about various products and services including fees, penalties, and/or regulations. CalSTRS (who is the manager to the 403b database) is working to release a new upgrade to the website, which will be more user friendly and interactive. Hopefully, this upgrade will be rolled out by late August.

CalSTRS is offering a new Financial Awareness Series, Save for Your Future and Plan for Your Future. Currently workshops are available in the West Sacramento location, but EGEA is working to bring these workshops to the EGEA Office in Elk Grove. Click HERE to learn more about or register to attend these workshops. 
Additional resources:
  • CTA Invest-This site includes information about financial planning and retirement. Including step to take in your 20s, 30s, 40s, etc. You can also read the publication Closing The Gap which discusses 403b and 457 plans in more detail.

EGUSD Wellness Rebate

Don't forget to submit your Wellness Rebate paperwork to Payroll on or before May 16, 2016 in order to receive the rebate for your health care premium for the 2015-2016 school year.  If you complete the rebate by May, you will also receive the rebate for July-December 2016 without completing the rebate process again. If you miss the May deadline, you can still complete the Wellness Rebate by December 1, 2016 to receive the 6 month rebate. Find out more information on the EGUSD Wellness Rebate website HERE

California Reads

An expansion of Read Across America

Read Across America is a program initiated by the National Education Association. Traditionally, this has been a one day book focused event. As the research on the importance of reading skills is very clear, CTA is working to make the focus of their expanded program, California Reads, a year-round event. The CTA website has current and former book recommendations for students of all ages. You can also find more downloadable resources such as posters (like the one below), bookmarks, as well as certificates of participation.

EGBERT Workshops

Thinking about retiring soon or just want to learn about your EGBERT retiree health benefits? There are two upcoming workshops entitled EGBERT 101. They will be held March 16 & 30 at 3:45-5pm. If you would like to attend one of these workshops, please RSVP by emailing or calling 916-684-7120 to ensure enough seating and materials.

Dues Information for the 2015 Tax Year


Click HERE for a printable version of this information.

February is Heart Health Month

Click HERE to find some tips about heart health. Try something new this week to be nice to your heart!
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