WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System’s (CalSTRS) eighth annual Green Initiative Task Force 2014 Annual Report shows an almost 300 percent increase in green bond purchases within the Fixed Income portfolio. This year, the Teachers’ Retirement Board identified sustainable investing as a key, strategic priority, which is reflected in the report and other initiatives.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Chief Executive Officer Jack Ehnes expressed his sadness at the passing, on Tuesday November 4, of former CalSTRS CEO Jim Mosman in his longtime hometown of Sacramento. Mr. Mosman led CalSTRS for 12 years from 1988 until 2001.
CalSTRS provides retirement, disability and survivor benefits for full-time and part-time California public school educators through a hybrid retirement system consisting of its Defined Benefit, Defined Benefit Supplement and Cash Balance Benefit programs, and a voluntary defined contribution plan called CalSTRS Pension2.
CalSTRS Defined Benefit Program is a traditional defined benefit plan that provides retirement, survivor and disability benefits. Your Defined Benefit retirement benefit is based on a formula set by law using your age, service credit and final compensation.
The Defined Benefit Supplement is a hybrid cash balance plan for Defined Benefit members that provides additional savings for retirement.
Funds come from compensation earned from service in one school year in excess of one year of service credit and limited-term salary increases. From January 1, 2001, through December 31, 2010, funds came from 25 percent of your monthly CalSTRS contribution.
CalSTRS Pension2 is CalSTRS’ voluntary defined contribution plan. Pension2 offers the opportunity to invest through tax-advantaged payroll deductions in low cost, flexible 403(b), Roth 403(b) and 457(b) plans for additional retirement savings.
The CalSTRS Medicare Premium Payment Program, which pays Medicare Part A hospital insurance premiums for certain eligible retired members, is not being offered to members with a most recent retirement effective date on or after July 1, 2012. If a full funding plan is enacted by the Legislature, the Teachers’ Retirement Board may elect to extend the program at that time.
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