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2017 Retirement Readiness Assessment
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Retirement Readiness Assessment • Biennial survey – conducted since 2008. • Evaluates the overall financial status of
CalSTRS members.
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Summary Findings • Use of myCalSTRS, CalSTRS.com and
Pension2.com for retirement planning increased. • Paying off student loan debt continues to rise as
an obstacle to saving for retirement. • Borrowing from retirement plans while working in a
CalSTRS-covered position decreased.
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Men and Women
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Retirement Savings
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0
25
50
75
Num
ber o
f Res
pond
ents
Retirement Savings (n = 168)
Household Retirement Savings - Single Females (Active)
![Page 7: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/7.jpg)
Median, $32,000 Mean, $94,000
0
25
50
75
Num
ber o
f Res
pond
ents
Retirement Savings (n = 168)
Household Retirement Savings - Single Females (Active)
![Page 8: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/8.jpg)
0
25
50
75
Num
ber o
f Res
pond
ents
Retirement Savings (n = 92)
Household Retirement Savings - Single Males (Active)
![Page 9: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/9.jpg)
Median, $33,000 Mean, $94,000
0
25
50
75
Num
ber o
f Res
pond
ents
Retirement Savings (n = 92)
Household Retirement Savings - Single Males (Active)
![Page 10: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/10.jpg)
Median, $33,000 Mean, $94,000
0
25
50
75
Num
ber o
f Res
pond
ents
Retirement Savings (n = 92)
Household Retirement Savings - Single Males (Active)
Median, $32,000 Mean, $94,000
0
25
50
75
Num
ber o
f Res
pond
ents
Retirement Savings (n = 260)
Household Retirement Savings – All Singles (Active)
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0
25
50
75
100
Num
ber o
f Res
pond
ents
Retirement Savings (n = 556)
Household Retirement Savings - Married Females (Active)
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Median, $103,000 Mean, $221,000
0
25
50
75
100
Num
ber o
f Res
pond
ents
Retirement Savings (n = 556)
Household Retirement Savings - Married Females (Active)
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0
25
50
75
100
Num
ber o
f Res
pond
ents
Retirement Savings (n = 370)
Household Retirement Savings - Married Males (Active)
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Median, $107,000 Mean, $195,000
0
25
50
75
100
Num
ber o
f Res
pond
ents
Retirement Savings (n = 370)
Household Retirement Savings - Married Males (Active)
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Median, $107,000 Mean, $195,000
0
25
50
75
100
Num
ber o
f Res
pond
ents
Retirement Savings (n = 370)
Household Retirement Savings - Married Males (Active)
Mean, $221,000
0
25
50
75
100
Num
ber o
f Res
pond
ents
Retirement Savings (n = 926)
Household Retirement Savings – All Married (Active)
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Retirement Confidence
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0
50
100
150
200
250
0Not At All Confident
1Somewhat Confident
2Confident
3Very Confident
Num
ber o
f Res
pond
ents
Confident Will Have Enough Money to
Live Comfortably Throughout Retirement (Active)
Single Female (n = 441) Single Male (n = 157)
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0
50
100
150
200
250
0Not At All Confident
1Somewhat Confident
2Confident
3Very Confident
Num
ber o
f Res
pond
ents
Confident Will Have Enough Money to
Live Comfortably Throughout Retirement (Active)
Single Female (n = 441) Single Male (n = 157)
Single Female Mean 0.92
Single Male Mean 1.35
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0
100
200
300
400
500
600
700
0Not At All Confident
1Somewhat Confident
2Confident
3Very Confident
Num
ber o
f Res
pond
ents
Confident Will Have Enough Money to
Live Comfortably Throughout Retirement (Active)
Married Female (n = 1,255) Married Male (n = 633)
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0
100
200
300
400
500
600
700
0Not At All Confident
1Somewhat Confident
2Confident
3Very Confident
Num
ber o
f Res
pond
ents
Confident Will Have Enough Money to
Live Comfortably Throughout Retirement (Active)
Married Female (n = 1,255) Married Male (n = 633)
Married Female Mean 1.15
Married Male Mean 1.47
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0
150
300
450
600
750
900
0Not At All Confident
1Somewhat Confident
2Confident
3Very Confident
Num
ber o
f Res
pond
ents
Confident Will Have Enough Money to
Live Comfortably Throughout Retirement (Active)
Female (n = 2,047) Male (n = 891)
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0
150
300
450
600
750
900
0Not At All Confident
1Somewhat Confident
2Confident
3Very Confident
Num
ber o
f Res
pond
ents
Confident Will Have Enough Money to
Live Comfortably Throughout Retirement (Active)
Female (n = 2,047) Male (n = 891)
Female Mean 1.06
Male Mean 1.43
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0
100
200
300
400
500
600
0Not At All Confident
1Somewhat Confident
2Confident
3Very Confident
Num
ber o
f Res
pond
ents
Confident Will Have Enough Money to
Live Comfortably Throughout Retirement (Retired)
Female (n = 1,290) Male (n = 771)
![Page 24: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/24.jpg)
0
100
200
300
400
500
600
0Not At All Confident
1Somewhat Confident
2Confident
3Very Confident
Num
ber o
f Res
pond
ents
Confident Will Have Enough Money to
Live Comfortably Throughout Retirement (Retired)
Female (n = 1,290) Male (n = 771)
Female Mean 1.48
Male Mean 1.73
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Retirement Income Adequacy
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Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 27: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/27.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 28: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/28.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 29: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/29.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 30: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/30.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 31: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/31.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 32: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/32.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 33: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/33.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 34: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/34.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 35: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/35.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 36: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/36.jpg)
Minimum Living Expense Line, $2,240
Poverty Line, $959
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
![Page 37: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/37.jpg)
Minimum Living Expense Line, $2,240
0
250
500
750
1,000N
umbe
r of P
re-1
999
Ret
irees
Monthly Benefit
Member-Only Benefit Pre-1999 Retirees - 2016
36%
![Page 38: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/38.jpg)
2017 Minimum Living Expense Line (1 Adult),
$27,483
0
20
40
60
80
100
Num
ber o
f Res
pond
ents
Annual Income (n = 768)
Annual Income – Retired (Singe/Divorced/Widowed)
![Page 39: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/39.jpg)
2017 Minimum Living Expense Line (1 Adult),
$27,483
0
20
40
60
80
100
Num
ber o
f Res
pond
ents
Annual Income (n = 768)
Annual Income – Retired (Singe/Divorced/Widowed)
11%
![Page 40: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/40.jpg)
2017 Minimum Living Expense Line (2 Adults),
$43,252
0
50
100
150
Num
ber o
f Res
pond
ents
Annual Income (n = 1,171)
Annual Income - Retired (Married)
![Page 41: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/41.jpg)
2017 Minimum Living Expense Line (2 Adults),
$43,252
0
50
100
150
Num
ber o
f Res
pond
ents
Annual Income (n = 1,171)
Annual Income - Retired (Married)
7%
![Page 42: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/42.jpg)
0
100
200
300
400
500
600
1Not At All Sufficient
2Somewhat Sufficient
3Mostly Sufficient
4Completely Sufficient
Num
ber o
f Res
pond
ents
Retirement Income Sufficiently Ensures Financial
Security in Retirement Female (n = 1,283) Male (n = 772)
![Page 43: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/43.jpg)
0
100
200
300
400
500
600
1Not At All Sufficient
2Somewhat Sufficient
3Mostly Sufficient
4Completely Sufficient
Num
ber o
f Res
pond
ents
Retirement Income Sufficiently Ensures Financial
Security in Retirement Female (n = 1,283) Male (n = 772)
Female Mean 2.62
Male Mean 2.86
![Page 44: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/44.jpg)
Longevity
![Page 45: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/45.jpg)
![Page 46: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/46.jpg)
22%
78%
Works for Pay in Retirement
Yes No
51% 49%
Does Regularly Scheduled
Volunteer Work Yes No
![Page 47: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/47.jpg)
22%
17%
5% 3%
24%
29%
Reasons for Working in Retirement
Extra income for travel,luxuries or entertainmentTo stay mentally active
To maintain socialconnectionsTo stay physically active
Necessary living expenses
Other
![Page 48: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/48.jpg)
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2017 Minimum Living Expense Line (1 Adult),
$27,483
0
10
20
30
40
Num
ber o
f Res
pond
ents
Annual Income (n = 128)
Annual Income – Pre-1999 Retirees (Single/Divorced/Widowed)
11%
![Page 50: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/50.jpg)
2017 Minimum Living Expense Line (1 Adult),
$27,483
0
20
40
60
80
100
Num
ber o
f Res
pond
ents
Annual Income (n = 640)
Annual Income – Post-1998 Retirees (Single/Divorced/Widowed)
11%
![Page 51: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/51.jpg)
2017 Minimum Living Expense Line (1 Adult),
$27,483
0
20
40
60
80
100
Num
ber o
f Res
pond
ents
Annual Income (n = 768)
Annual Income – Retired (Singe/Divorced/Widowed)
11%
![Page 52: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/52.jpg)
2017 Minimum Living Expense Line (2 Adults),
$43,252
0
5
10
15
20
Num
ber o
f Res
pond
ents
Annual Income (n = 108)
Annual Income – Pre-1999 Retirees (Married)
11%
![Page 53: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/53.jpg)
2017 Minimum Living Expense Line (2 Adults),
$43,252
0
50
100
150
Num
ber o
f Res
pond
ents
Annual Income (n = 1,063)
Annual Income – Post-1998 Retirees (Married)
7%
![Page 54: CalRTA Members - 2017 Retirement Readiness Assessment · 2018-02-12 · 3. Mostly Sufficient. 4. Completely Sufficient. Number of Respondents Retirement Income Sufficiently Ensures](https://reader034.vdocument.in/reader034/viewer/2022050302/5f6b4786c6919a13ff385168/html5/thumbnails/54.jpg)
2017 Minimum Living Expense Line (2 Adults),
$43,252
0
50
100
150
Num
ber o
f Res
pond
ents
Annual Income (n = 1,171)
Annual Income - Retired (Married)
7%