CalSTRS has conducted an assessment of AB 340, the California
Public Employees’ Pension Reform Act of 2013, and its impact on
CalSTRS members and operations and outlined key changes.
This directive notifies employers of changes to Education Code
and Government Code sections contained in Chapter 296, Statutes
of 2012 (AB 340—Furutani), known as the California Public
Employees’ Pension Reform Act of 2013, that becomes effective
January 1, 2013.
The purpose of this directive is to notify employers that the
change to Education Code Section 22138.5 contained in Chapter 38,
Statutes of 2012 (SB 1016 – Committee on Budget and Fiscal
Review) did not become operative.
This directive contains information for county superintendents of
schools, school districts, charter schools, community
college districts, and any agency that employs retired members
of the Defined Benefit (DB) Program (referred to in this
directive as “retired CalSTRS members”) to perform
creditable service.
The provisions set forth in this section of Chapter 38, Statutes
of 2012, applies to all prekindergarten through grade
12 school districts, county offices of education and
charter schools.
This directive is to notify employers that the penalties and
interest regulations will be effective and CalSTRS will
begin penalty assessments July 1, 2012.
This directive applies to all county superintendents of schools,
school districts, community college districts, and other
employing agencies that employ persons to perform creditable
service under the CalSTRS Defined Benefit (DB) Program,
Defined Benefit Supplement (DBS) Program and Cash Balance
(CB) Benefit programs.
This directive contains information for county superintendents of
schools, school districts, charter schools, community
college districts, and any agency that employs retired members
of the Defined Benefit (DB) Program (referred to in this
directive as “retired CalSTRS members”) to perform
creditable service.
Your retirement benefit is based on a formula (Service Credit x
Age Factor x Final Compensation = Member-Only Benefit). How
confident are you in your understanding of how this formula
determines your Member-Only Benefit amount?
