WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System is celebrating the appointment of its Chief Operating Investment Officer, Debra Smith, to the Public Company Accounting Oversight Board’s Standing Advisory Group. Ms. Smith will represent the investors’ perspective and voice in the advisory group. Her three-year term runs through the end of 2019.
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.
CalSTRS is required to adopt regulations following the procedures established in the Administrative Procedure Act (APA). A regulation is defined in Government Code section 11342.600:
“Regulation means every rule, regulation, order, or standard of general application or the amendment, supplement, or revision of any rule, regulation, order, or standard adopted by any state agency to implement, interpret, or make specific the law enforced or administered by it, or to govern its procedure.”
Materials related to proposed actions to adopt, amend and repeal regulations can be found on this page.
To request to receive notification and updates regarding any of CalSTRS rulemaking activities, send your name and contact information to Regulations@CalSTRS.com or contact Governmental Relations at 916-414-1994. Please specify which rulemaking action you would like to receive notifications regarding; otherwise, you will receive notification of all CalSTRS rulemaking activities. To conserve paper, we ask that you provide your email address so that we can send you notification and updates regarding rulemaking activities via email. If you prefer to receive communication through the mail, please provide your mailing address.
The amendments proposed in this rulemaking action explicitly allow establishment of a class of employees based on employment in the same program established under a Local Control and Accountability Plan, address gaps that have been identified in the definitions of “salary” and “remuneration that is paid in addition to salary,” and remove an unintended loophole that was included in the original language regarding successor pay. The amendments also include conforming changes or changes for ease of reading.
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