Account Portability

Prior to age 50, a withdrawal must include both the defined benefit and defined contribution portions of the account. 

At age 50 or later, members may withdraw the defined contribution portion of the account upon termination and leave the defined benefit portion for monthly benefits at the latter of age 60 or termination of employment. They may withdraw the defined benefit portion only if they are also withdrawing the defined contribution portion.

Defined Contribution Withdrawal Amount
Members are eligible for their contributions and the gains or losses on those contributions.

Important Note for Members Who Have Selected the STRS Total Guaranteed Return Choice as an Investment Option
Members who leave teaching and elect to “withdraw” their STRS Total Guaranteed Return Choice account before the end of a five-year term will be assessed an early-term withdrawal penalty of 10% of their net asset value (NAV) on all funds that did not go to term.

Defined Benefit Withdrawal Amount
For the defined benefit portion of the account, members with 5.00 or more years of service credit are eligible for the present value of future benefits. For example, a member with 10.00 years of service credit would be eligible for an annual benefit equal to 10% of final average salary at age 60. The withdrawal amount is equal to the present value of that lifetime benefit.

The defined benefit portion of the account has no value if the member withdraws before accumulating 5.00 years of service credit.

Click here to download an account withdrawal packet.