Ep12: Are You Leaving Money on the Table?
Ep12: Are You Leaving Money on the Table?
I Didn’t Know I Had Access to That!
Maria, a 6th-grade teacher, discovered she had access to a 457(b) plan her entire career — but no one ever told her.
She also didn’t know:
- She could use catch-up contributions
- She earned unused sick leave that adds service credit
- Her district offered a matching 403(b) (rare, but some do!)
Many educators unknowingly miss benefits, credits, and programs worth thousands.
What CalSTRS, CalPERS, and District Rules Say About Hidden Benefits
CalSTRS:
Unused sick days increase service credit at retirement.
CalPERS:
Some employees qualify for district health benefits only after meeting specific service thresholds.
IRS Contribution Rules:
Teachers may qualify for:
- Catch-up contributions (50+ age increase)
- Special 457(b) catch-up (final 3 years of service)
- Pre-tax or Roth contributions
California 457(b) Rules:
Some districts offer CalSTRS Pension2 457(b), which is extremely low-cost.
Government Tools to Uncover Lost or Unused Benefits
CalSTRS My Account → Service Credit + Sick Leave
- CalSTRS My Account → Service Credit + Sick Leave
- District HR Benefit Sheet
- IRS Contribution Limits
- CalSTRS Pension2 403(b)/457 Fee Disclosure
- FINRA Fee Analyzer
These tools help identify unused benefits and money teachers didn’t know they had.
Ways Teachers Commonly Lose Money — And How to Fix It Fast
1. Forgetting to use 457(b) or 403(b)
Both plans can reduce taxable income and grow retirement savings.
2. Not capturing unused sick leave
Every sick day adds to service credit.
3. Paying avoidable 403(b) fees
Track your service credit every year.
4. Missing catch-up contributions
If you’re 50+, you can supercharge retirement savings.
Want to find out if you're leaving money on the table?
Request a free benefits audit — we’ll review sick leave, contributions, and potential missed savings.