Retirement Options
Dear part-time Gavilan faculty,
Have you thought about retirement lately? Part-time faculty at Gavilan DO have some retirement options, though we would like to see them improved at the state and local levels. As the information from STRS that we're distributing to part-time boxes this week indicates (you can see it online at CALSTRS) part-timers who work for a total of five years become vested and eligible for STRS retirement benefits. We are currently discussing with the Gavilan Community College district its method of counting service credit, which is part of the formula (age, service credit, and salary at retirement all figure in to monthly pension amounts in the end.) Those who probably will not work a total of five years may be better served by the private Apple plan offered by the district. In addition, the Social Security windfall asset might affect part-timers' STRS benefits and should be considered in making any decision. Information below.You can also see, from the Cabrillo College Federation of Teachers, a matrix to help you compare.
And all workers need to be on top of their retirement options! We suggest the following non-profit resources:
- The Social Security windfall offset, which might affect part-timers' ability to benefit from STRS
- The 403(b) Information Center
- SCCOE
- 403b explained
- IRS FAQs
- Know Your 403(b) Facts
- Annuities
- Socially responsible 403s and other investments:
Leah Halper , GCFA secretary
with thanks to Cabrillo College Teachers Federation and
Shairon Williams of Gavilan's HR department




