School teachers are likely to experience highly stressful events through their work. Thus, it is important to understand emotion regulation factors, such as savoring the moment, that might protect a school teacher's psychological adjustment following a highly stressful work event. First, we examined whether school teachers' ability to savor the moment buffers the psychological impact of a highly stressful work event on school teacher psychological adjustment. Second, we examined whether, following a highly stressful work event, savoring the moment relates to better psychological adjustment in school teachers through greater meaning in life. We surveyed 110 Australian school teachers (M = 40.15 years) who completed measures of psychological impact of a stressful work event, savoring the moment, psychological adjustment, and meaning in life. Regression results showed that 1) savoring the moment buffered the negative psychological impact of a highly stressful work event on psychological adjustment outcomes of depression and anxiety; and 2) meaning in life mediated the relationship between savoring the moment and psychological adjustment. The findings have theoretical and practical implications for school teacher psychological adjustment.