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.
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. As a result,
CalSTRS now has two benefit structures:
CalSTRS 2% at 60 – members first
hired on or before December 31, 2012.
CalSTRS 2% at 62 – members first
hired on or after January 1, 2013.
The IRS has raised the annual contribution limit for 403(b),
457(b) and 401(k) retirement plan accounts to $17,500 for 2013,
an increase of $500 over the previous limit.
In 2013, CalSTRS celebrates our 100-year anniversary. As part of
our tribute to California’s teachers, we are seeking your help in
creating a video gallery on CalSTRS.com.
In 2013, CalSTRS celebrates our 100-year anniversary. Help create
a visual history of CalSTRS by submitting photos, illustrations
or publications from your time as a California public school
teacher.
National Save for Retirement Week is an effort to raise public awareness about the importance of saving for retirement. This year, National Save for Retirement Week is October 21-27, 2012 and provides an opportunity for you to:
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (CalSTRS) released a statement today outlining its votes
at the News Corp. annual meeting.
Please visit CalSTRS.com and log on to yourmyCalSTRS
accountto complete your Refund Application
online. Submitting your application online means
faster processing and ensures CalSTRS receives your application
error free.
The Governor recently signed legislation prohibiting the purchase
of nonqualified service credit, or air time, effective
January 1, 2013, as part of the California Public
Employees’ Pension Reform Act of 2013.
CalSTRS has conducted an initial
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.
As an institutional investor, CalSTRS is committed to the
proposition that better corporate governance leads to greater
long-term value and increased returns. Numerous studies
acknowledge that diverse boards initiate strategic changes more
effectively, increase the exchange of ideas and lead to better
performance.
Governor Brown has announced an agreement with the Legislature on
changes to public employee pensions. CalSTRS is in the process of
analyzing the impacts any new reform measures will have on
current members, new members and retirees. CalSTRS anticipates
completing its analysis by the end of this week, at which time it
will be made available on this and the CalSTRSbenefits.us websites.
The postretirement earnings limit increased from $31,020 to
$40,011 with the passage of AB 178 on July 17, 2012.
The new law also extended and expanded a very narrow
postretirement earnings limit exemption, added an exclusion to
the postretirement limit and employment requirements, and made
changes to reinstatement.
CalSTRS members are invited to visit the CalSTRS booth at one of
the free CalPERS 2012 Retirement Planning Fairs taking place in
August. Members may ask questions about CalSTRS benefits, learn
about resources available and speak with a CalSTRS benefits
counselor.
myCalSTRS will be intermittently available from
2 p.m. to 8 p.m. on Saturday, June 16 due to
system maintenance. We apologize for the inconvenience and
appreciate your patience.
As an institutional investor, CalSTRS advances the practice of
long-term value creation. CalSTRS is committed to the proposition
that better corporate governance leads to greater long-term value
and increased returns.
myCalSTRS will be unavailable due to system maintenance
from 11 p.m. on Friday, June 1 to 5:30 p.m. on Saturday,
June 2. We apologize for the inconvenience and
appreciate your patience.
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?
