WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Corporate Governance 2014 Annual Report shows its engagement with small-cap companies yielded remarkable progress in the adoption of majority voting standards for the election of corporate directors.
The Corporate Governance 2014 Annual Report reflects four years of work with small-cap companies—those with a capitalization of $2 billion or less—to adopt the majority-vote standard. The standard requires directors to receive a majority of shareholder support to be elected to the board.
A commitment to sustainability is a key component of the culture, investments, core values and vision at CalSTRS. And per the five-year strategic business plan, CalSTRS is embarking on our inaugural sustainability report covering the calendar year of 2014. In this annual report, we will review and report on CalSTRS sustainability performance related to the most important of 12 crucial and relevant topics for each fiscal year. The report will encompass feedback from various stakeholder groups, which is where we need your assistance in completing a brief sustainability survey.
CalSTRS online calculators, Retirement Benefits and Permissive Service Credit, have been updated to reflect the new CalSTRS 2% at 60 and CalSTRS 2% at 62 benefit structures created by the California Public Employees’ Pension Reform Act of 2013.
CalSTRS celebrates and honors its dedicated members. In this first of an ongoing series of member profiles, we spend a day with 55-year CalSTRS member Dr. Genevieve Shepherd, principal at Tom Bradley Global Awareness Magnet school in Los Angeles.
The Irvine Member Service Center maintains the same environmental standards and energy efficiency that reflects CalSTRS’ commitment to California’s public educators and aligns business and technology changes to improve member services.
The Irvine site was selected as a result of an extensive site search that included a demographic analysis and comprehensive member survey sent to both active and retired Orange County members.
From April through June 2014, Caltrans is rehabilitating a section of U.S. Highway 50 in Sacramento, both eastbound and westbound directions, with a five-day break for the Memorial Day holiday. This project is called Fix50, and it will affect individuals visiting CalSTRS’ headquarters and Member Service Center in West Sacramento.
Beginning in 2014, CalSTRS’ Retirement Progress Reports (annual member statements) will be delivered online at myCalSTRS. Members who wish to continue receiving their statement by mail will be able to do so by changing their delivery preferences. If you would like to receive your 2014 report by mail, your request to continue delivery by mail must be received by June 16, 2014.
The Teachers’ Retirement Board recently voted to change how the cost of purchasing service credit is calculated. The contribution rate structure for permissive service credit will change from the current 10-year age group increments to 1-year increments.
CalSTRS operations, services and benefit payments are unaffected by the federal shutdown prompted by Congressional failure to pass a continuing resolution to keep the federal government funded past October 1, 2013.
CalSTRS is not an entity of the federal government and is not subject to the shutdown. CalSTRS will continue to:
CalSTRS is launching a redesigned and improved CalSTRS.com on Friday, January 25. The new site is a faster, simpler way to find information about CalSTRS benefits and services, the investment portfolio, our latest news releases, and our efforts in the areas of corporate governance and sustainability. The design features new navigation tools to help you quickly find what you’re looking for.
The California Public Employees’ Pension Reform Act of 2013 (Chapter 296, Statutes of 2012) made significant changes to the benefit structure that primarily affect members first hired to perform CalSTRS creditable activities on or after January 1, 2013. Three provisions also affect current members.
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.