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.
In December 2011, CalSTRS held an information session discussing
the Governmental Accounting Standards Board’s recent report,
Exposure Drafts on Pension Accounting and Financial
Reporting.
The session provided current information about both what GASB is
proposing and how it will affect employers and their districts.
The session covered:
An overview of GASB’s proposed changes
An overview of CalSTRS feedback to GASB
A recap of the San Francisco GASB hearing
Steps employers can take to prepare for these changes
Because CalSTRS members do not pay into Social Security on
CalSTRS earnings, Social Security law may reduce member Social
Security benefit.
A webinar from the Social Security
Administration explains how members of some public employee
and teacher pensions may be affected by the Windfall Elimination
Provision and the Government Pension Offset.
On October 26, 2010, CalSTRS held a webinar, Perspectives: CalSTRS 2011, focused on sorting fact from fiction surrounding retirement benefits and the long-term funding status of CalSTRS.
Active members joined the webinar to hear a presentation from CalSTRS CEO Jack Ehnes and Deputy CEO Peggy Plett followed by a question and answer session. Questions received from members that were not answered during the webinar will be included in the next issue of CalSTRS Connections.
On June 10, 2010, CalSTRS presented an audio town hall meeting, Fact or Fiction About Your CalSTRS Pension.
Retired members called in to listen to a presentation from CalSTRS CEO Jack Ehnes and Deputy CEO Peggy Plett. The focus was sorting out fact from fiction surrounding the status of CalSTRS retirement benefits. Members could also ask questions.
On April 30, 2010, CalSTRS held a webinar which began with a
discussion by Deputy CEO Peggy Plett of how school furloughs can
affect members’ benefits and the accepted methods for reporting
furlough earnings to CalSTRS.
Deputy CEO Ed Derman follows up with a discussion of the effect
of postretirement employment, earnings limitations and exemptions
on retirees’ monthly benefits
On April 30, 2009, CalSTRS presented its first audio town hall
meeting, The Economy, CalSTRS Portfolio and You.
More than 600 members called in to listen to a presentation from
CalSTRS CEO Jack Ehnes and Deputy CEO Peggy Plett. The focus was
the challenging financial climate and the security of the
Teachers’ Retirement Fund. Members could also ask questions.
Questions that were not answered during the call were included in
the Summer 2009 issue of Retired
Educator.
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?
