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Article: For California Teachers On Move, Retirement Benefits Prove Troublesome.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- February 26, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Melanie Payne, The Sacramento Bee, Calif. Knight Ridder/Tribune Business News
Feb. 26--For Suzanne Ericson, coming to California was a $130,000 miscalculation.
Ericson worked for 17 years as a teacher in Massachusetts. She believed that the retirement payments she made in Massachusetts could be rolled over to the California State Teachers' Retirement System (CalSTRS).
"I assumed that I would be able to transfer (my retirement) in the way credentials are transferred," said Ericson, principal at Olive School in Novato. "I was very surprised and a little naive, I guess."
As Erickson quickly learned, teachers' pension plans aren't ...
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