Teacher retirement benefits protection bill signed by Gov. Newsom
A bill seeking to protect the monthly benefits of retired public school teachers is set to become law after receiving approval from Gov. Gavin Newsom.
The governor on Friday signed Senate Bill 432, proposed by Sen. Dave Cortese, D-San Jose, ensuring retired teachers will have legal protection against penalties arising from errors made by the California State Teachers' Retirement System or CalSTRS.
"Caring for California's students means taking care of all the people who work at our public schools," Cortese said in a statement Friday. "Governor Newsom recognizes the importance of ensuring that retired teachers are not penalized through no fault of their own."
The senator added that the proposed law will bolster the teaching profession "during a time when it's needed most," amid rising living costs across much of the state.
According to Cortese's office, mistakes made by the CalSTRS can put retired teachers' financial stability at risk. For instance, if CalSTRS identifies an overpayment it is responsible for, a retired teacher might face a penalty, reducing their monthly benefits.
SB 432 ensures that retired teachers will be informed about these errors, and the bill shields their monthly retirement payments from penalties when the mistake is not their fault.
"This important legislation will further California's goal of protecting our retired teachers from mistakes they did not make," California Retired Teachers Association President Suzie Dixon said in a statement Friday.
