Deputy CEO, Plan Design and Communication
Ed Derman is the deputy chief executive officer for Plan Design and Communication at CalSTRS, the largest educator-only pension fund in the world.
CalSTRS administers a hybrid retirement system, consisting of a traditional defined benefit, cash balance and defined contribution plans, as well as disability and survivor benefits. CalSTRS serves more than 868,000 members and benefit recipients. The asset value of the investment portfolio was approximately $188 billion as of October 31, 2015. CalSTRS administers retirement benefits for California’s public school educators in grades kindergarten through community college. Mr. Derman joined CalSTRS in 1998.
As DCEO, he oversees the ombudsman, actuarial, government affairs and program analysis communication, and defined contribution solutions offices. He also manages state and federal legislation affecting CalSTRS, and works closely with external stakeholders.
During his tenure, Mr. Derman developed new programs and resources to enhance members’ retirement options. He developed the Defined Benefit Supplement and Medicare Premium Payment programs and expanded the defined contribution program for school employees through the Pension2®, 403bComply and 403bCompare programs.
Mr. Derman came to CalSTRS from the California State Senate Committee on Appropriations. During his 12 years as a principal consultant to the committee, he was responsible for analyzing legislation, advised on policy issues affecting state and local retirement programs, employee compensation, taxation, transportation, and local government and state fiscal administration. Prior to his service in the Senate, he worked for two years in the Chancellor’s Office at the California State University and six years as a program analyst at California’s Legislative Analyst’s Office.
Mr. Derman is a native of Rochester, New York, and holds a Bachelor of Arts in public policy from the University of Chicago and both a Master of Public Policy and a Master of Science in engineering from the University of California, Berkeley.