WEST SACRAMENTO, Calif. – CalSTRS voted its 11.6 million shares against long-tenured board members John D. Baker II, John S. Chen, Lloyd H. Dean, Enrique Hernandez, Jr., Donald M. James, Cynthia H. Milligan, Federico F. Peña, Stephen W. Sanger, and Susan G. Swenson. These board members failed in their duty to shareholders to identify the weaknesses in the company’s risk and oversight mechanisms.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced that Governor Brown has appointed Karen Yamamoto to the California State Teachers’ Retirement Board. The board oversees the retirement benefits for California’s prekindergarten–12 and community college educators covered under the California State Teachers’ Retirement System (CalSTRS).
The purpose of this circular is to alert employers that on January 1, 2015, CalSTRS Creditable Compensation Regulations, Sections 27200 through 27602 of Chapter 2, Division 3, Title 5 of the California Code of Regulations become effective. The regulations clarify Education Code sections 22112.5, 22119.2 and 22905 and apply to CalSTRS 2% at 60 members.
Pension2, CalSTRS’ voluntary supplemental savings plan, is currently transitioning to its new recordkeeper, Voya FinancialTM, from TIAA-CREF. The purpose of this circular is to alert employers of the upcoming changes, in addition to providing information and resources to help make the transition easier for you and your employees.
The purpose of this circular is to alert employers that the creditable compensation limit for Defined Benefit CalSTRS 2% at 62 members and Cash Balance participants subject to the California Public Employees’ Pension Reform Act of 2013 (PEPRA) has changed for the 2014-15 fiscal year. The creditable compensation limit applies to compensation creditable to the Defined Benefit (DB), the Defined Benefit Supplement (DBS), and the Cash Balance (CB) Benefit programs.
The purpose of this circular is to alert employers that Governmental Accounting Standards Board Statement No. 68 (GASB 68), effective for fiscal years beginning after June 15, 2014, will result in significant changes to their financial statements as a participating employer in the State Teachers’ Retirement Plan (STRP), a cost-sharing, multiple-employer defined benefit pension plan.
The purpose of this circular is to alert employers that the Internal Revenue Service has announced the pension plan limits for tax year 2014 and to inform employers of the compensation limit under the Teachers’ Retirement Law for CalSTRS members and participants who are first hired to perform creditable service on or after January 1, 2013.
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.