Retirement Pay

Retired teachers are allowed to lose 15% of our purchasing power, but only 15%:

The teachers’ retirement system provides a unique benefit that preserves retirees’ “purchasing power.” When inflation reduces the value of their pension dollars by more than 15%, the system makes a permanent adjustment, pushing retirees’ purchasing power back up to 85%. 

The inflation rate CalSTRS used for the fiscal year that ended in June was 8.3%, according to the retirement system’s announcement. 

That pushed the purchasing power of about 50,000 retirees below 85% for the first time, triggering new adjustments for them, according to the announcement. Only teachers who retired in 2005 or earlier were eligible for the adjustments, which showed up on this month’s pension checks. 

CalSTRS’ announcement said the system has “one of the strongest anti-inflation programs operated by any public pension system in the nation.”

I guess that's something.