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Do part-time faculty have a retirement plan?

Yes. Pursuant to federal law, part-time faculty have three choices. Upon employment, they are automatically entered into a defined contribution plan administered by MetLife. Part-time faculty have the option of joining STRSDB (State Teachers Retirement System), a defined benefit plan, or STRS Cash Balance. Part-time faculty cannot simultaneously belong to all three plans. Please contact MetLife or STRS for plan details.

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Santa Monica College Faculty Association
1900 Pico Blvd.
Liberal Arts, Room 140
Santa Monica, CA  90405
Phone 310-434-4394
FAX 310-434-3601

President: Mitra Moassessi

Executive Secretary: Janet Watts

www.SMCFA.org

March, 2002 Volume 16, Issue 3 - Save the $57 Million Equity PDF Print E-mail
by Lantz Simpson

The $57 million state fund for part-time faculty equity that was first established in this year's state budget is under attack as state budget forecasts for next year's budget grow gloomier. this fund gave many part-time faculty at SMC an additional 7% raise for this year. Despite the $57 million being in the Governor's January budget and still receiving strong support from the Board of Governors, others are at work attempting to get their hands on it. ACBO (Association of Chief Business Officers) has passed a resolution that it wants the $57 million returned to the state's general fund so that it could be spent locally on anything. If the state budget's May revise figures are worse than expected, there will be more pressure from other quarters to go along with what ACBO wants. Of course this would probably mean a PAY CUT for most part-time faculty around the state. Please write the governor and your legislators today and urge them to maintain the $57 million equity fund for next year.

Governor Gray Davis
State Capitol
Sacramento, CA 95814
Senator Sheila Kuehl
State Capitol, Room 4032
Sacramento, CA 95814
Fran Pavley
State Capitol, Room 5144
Sacramento, CA 95814
 
 

 

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