WEST SACRAMENTO, Calif. – Consistent with its commitment to ensuring a financially sound retirement system, the California State Teachers’ Retirement Board today voted to adopt a new set of actuarial assumptions that reflect members’ increasing life expectancies and current economic trends. Today’s decisions were based on the multi-year CalSTRS Experience Analysis, commonly referred to as the experience study, spanning July 1, 2010, through June 30, 2015.
The purpose of this circular is to inform County Offices of Education, School Districts, Community Colleges and Charter Schools of common employer audit findings and to provide guidance on preventive actions to take to avoid these findings in the future.
CalSTRS is currently in the preliminary stages of developing and adopting regulations relating to the timely reporting and remittance of contributions made by CalSTRS members and employers. Those regulations have not been adopted, are subject to change as the regulatory process proceeds, are not yet in effect and are not expected to be in effect any earlier than mid-2012.
The 403bCompare Web site has just completed a review and update of information listed on the web site, with special attention focused on the fee comparison section. During a routine review of vendor products and information it was determined that many vendors had not updated the fee
section of the web site.
It is important that CalSTRS maintain accurate addresses in order to mail important information to our members, such as the annual Retirement Progress Reports. In the past CalSTRS required employers to submit address file updates once a year.
Electronic privacy is crucial for the ongoing success of the Internet as a convenient means to provide customer service. Your personal information will be used only to conduct CalSTRS-related business.
The California State Teachers’ Retirement System website has been developed in compliance with California Government Code §11135, which requires that all electronic and information technology developed or purchased by the State of California is accessible to people with disabilities. There are various types of physical disabilities that impact user interaction on the web. Vision loss, hearing loss, limited manual dexterity, and cognitive disabilities are examples, with each having different means by which to access electronic information effectively.