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CalSTRS Pension2 - Personal Wealth Plan
Product ID: 61

Vendor:
CalSTRS Pension2
Type:
Mutual Fund 


$57
0.32%
None
No
Roth Eligible



Enrollment and Questions

Use the following contact information to enroll or ask questions.

Website:
Visit Website
Phone:
(888) 394-2060
 E-mail:
Send Email
Mailing Information  Address:
CalSTRS Pension2 Plan Administration
P.O. Box 990071
Hartford, CT 06199
  In-person:
Questions about enrollment?
View the Contact Information tab on the Vendor Details page for a list of office locations.


The CalSTRS Defined Benefit will replace, on average, about 50-60% of a member’s current salary. Need more for retirement? CalSTRS Pension2 is CalSTRS’ voluntary defined contribution plan created to complement the defined benefit pension. Pension2 allows for both certificated and classified employees to set aside extra savings in low-cost and flexible 403(b), Roth 403(b), and 457(b) plans. If participants don’t want to make complicated investment allocation and readjustment decisions on their own, they can utilize ongoing CalSTRS professional investment management by choosing one of our CalSTRS Pension2 Easy Choice Portfolios at no additional charge. Pension2 participants never pay commissions and our investment options are free of front-end and back-end load fees.

Select the topics below to expand and view additional product details


CalSTRS Pension2 participants are provided with commission-free advice and services. Advice and consultation can be provided online, by phone, or in-person.
CalSTRS Pension2 investment options do not contain front-end or back-end load fees. This means that every dollar contributed gets invested, and participants are not charged a fee to liquidate their investments.
For those participants looking for control over their retirement portfolios, the Self-Directed Brokerage Account brings you access to a greatly expanded range of mutual funds. Through the fee-based brokerage account offered through Schwab Personal Choice Retirement,* you will have access to more than 800 no-transaction-fee mutual funds in addition to thousands of transaction-fee funds and certificates of deposit. You have to apply for and set up a separate Self-Directed Brokerage Account before you may trade mutual funds. Please note, however, the mutual funds are not selected, reviewed or monitored by CalSTRS. $50 annual charge applies for participants selecting the SDBA option.
Asset allocation planning is provided via the CalSTRS Pension2 Easy Choice Portfolios. These portfolios are designed specifically for the participant and start with an asset allocation considered appropriate for the years from retirement and risk tolerance. Each portfolio gets more conservative over time as the participant gets closer to retirement.
With the CalSTRS Pension2 Easy Choice Portfolios, a participant's account is automatically re-balanced on a quarterly basis. This relieves that participant of the need to make complicated investment, portfolio reallocation and readjustments decisions.
By enrolling in CalSTRS Pension2 and establishing monthly contributions from your paycheck you are practicing dollar cost averaging. You are making regular contributions in consistent amounts. This allows you to take advantage of fluctuations in the market.
CalSTRS Pension2 participants are not charged to switch between funds or transfer money between funds.

CalSTRS Pension2 participants are permitted to take loans on their account balance. There is a $50 one-time fee charged at the time of loan origination. The loan interest rate is prime rate + 1%. Maximum loan size is the lesser of 50% of your account balance or $50,000. Minimum loan size is $1,000.

CalSTRS Pension2 participants can get a hardship withdrawal if their employer permits it. Reference your employer's written plan document for details on what constitutes a hardship withdrawal.

When a CalSTRS Pension2 participant turns the age of 73, they will receive two mailers throughout the year asking if they would like us to calculate their required minimum distribution automatically, or if they would like to opt out of the distribution altogether. If accepted, Voya and CalSTRS will generate a check for the appropriate required minimum distribution amount.

Yes


All 403(b) products contain fees. The amount of fees varies greatly depending on the product. A slight increase in fees can substantially reduce the growth in your account which will reduce your income in retirement. To learn more about the impact of fees, and the different types of fees please refer to the Explanation of Fees piece located in the Help & Resources.

Fees

0.25% Annually Percentage of Annual Assets Yes No No
Fee Waiver
The 0.25% Administrative Fee is charged on a quarterly basis (0.0625% quarterly).

8.50% Annually Percent of Outstanding Loan Balance Yes Yes No
Fee Waiver
Interest is paid back into the account by participant. Interest is built into monthly loan payments
Breakpoint
Interest rate may vary, is calculated at time of loan, rate is current Prime Rate + 1%.

$50.00 At the time of loan origination Flat Dollar Amount No No Yes

0.60% Annually Percentage of Annual Assets No No No

$50.00 Annually Flat Dollar Amount No No Yes

Funding Options


Fixed Investment Options

Variable Investment Options


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