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.
Separate fact from fiction, learn how CalSTRS is different from other public pension systems, and get other critical facts about CalSTRS and pension funding issues.
On September 12, 2012, Assembly Bill 340 (AB 340), the California
Public Employees’ Pension Reform Act of 2013 (PEPRA) was signed
into law.
Given the unique benefits offered as part of the CalSTRS
comprehensive hybrid retirement system, the provisions of AB 340
will impact current and future members differently. Changes to
the CalSTRS benefit program under AB 340 primarily affect those
who are first hired on or after January 1, 2013.
This study was prepared for CalSTRS by the Applied Research
Center at the California State University, Sacramento. The study
examines the economic impacts of CalSTRS on the economies of the
state of California and its 58 counties.
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?
