Dan's Blog
2023 California Teacher Retirement Pension Payout Data
March 26, 2024
Each year CalSTRS — the California state teachers pension agency — publishes retiree pension payout information. While no two state plans are exactly the same, it's instructive to see what retiring teachers in California can expect from their defined benefit plan. Keep in mind that California is one of about a dozen states where teachers don't pay into Social Security.
2023 Retirees
- Number: 10,369
- Average age: 62.9
- Average years of service: 24.6
- Average annual final compensation: $105,672
- Average annual Members-only* benefit: $61,692
2022 Retirees
- Number: 11,754
- Average age: 63
- Average years of service: 24.2
- Average annual final compensation: $100,836
- Average annual Members-only* benefit: $57,708
2021 Retirees
- Number: 12,785
- Average age: 63.2
- Average years of service: 24.7
- Average annual final compensation: $98,880
- Average annual Members-only* benefit: $57,756
2020 Retirees
- Number: 11,707
- Average age: 63.3
- Average years of service: 24.3
- Average annual final compensation: $95,376
- Average annual Members-only* benefit: $55,368
*Note: for a reduced payout, Member can protect pension payout over their life and that of a beneficiary.
2019 Retirees
- Number: 12,331
- Average age: 63.3
- Average years of service: 24.083
- Average annual final compensation: $94,560
- Average annual Members-only* benefit: $54,564
2018 Retirees
- Number: 12,778
- Average age: 63.3
- Average years of service: 24.264
- Average annual final compensation: $92,748
- Average annual Members-only* benefit: $54,144
2017 Retirees
- Number: 12,247
- Average age: 63.3
- Average years of service: 24.608
- Average annual final compensation: $90,324
- Average annual Members-only* benefit: $53,700
Source: CalSTRS Retired Educator
Estimate Your Pension Payout
No matter how far you are from retirement, it's important to have some idea of what you can expect from your pension in retirement. Most plans have online calculators that allow you estimate future benefit payout. Many also put on retirement planning workshops both in person and virtual.
Stay wise and well (and estimate your pension payout).
