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Cash Balance Benefit ProgramTermination Benefit ApplicationCalifornia State Teachers Retirement System P.O. Box 15275, MS 65 Sacramento, CA 958510275 8002285453 CalSTRS.comCB 585 (rev 02/16)Please
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How to fill out cash balance benefit program

01
Fill out the enrollment form provided by your employer with accurate personal information.
02
Choose your desired contribution percentage for the cash balance benefit program.
03
Review and sign the enrollment form before submitting it to your employer.
04
Keep track of your contributions and monitor your account regularly for updates.

Who needs cash balance benefit program?

01
Employees who want to save for retirement in addition to their existing retirement plans.
02
Employers looking to offer a retirement benefit that is easy to administer and provides employees with a stable income stream in retirement.
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Cash balance benefit program is a type of retirement plan where an employer credits a participant's account with a set percentage of their yearly compensation plus interest.
Employers who offer cash balance benefit programs are required to file annual reports with the IRS and provide participant statements.
Cash balance benefit programs are typically filled out by the employer's HR or benefits department using the required forms provided by the IRS.
The purpose of cash balance benefit programs is to provide employees with a retirement savings vehicle that combines elements of traditional pension plans and 401(k) plans.
The information reported on cash balance benefit programs includes participant account balances, contributions made by the employer, investment earnings, and any distributions made.
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