WEST SACRAMENTO, Calif. (April 15, 2019) – California State Teachers’ Retirement System announced that trustee Sharon Hendricks was elected to the PRI Association Board. As an independent organization, PRI encourages investors to use responsible investment to enhance returns and better manage risks.
As introduced, would have provided an exemption to the post-retirement earnings limit for retired teachers returning to work to meet the objectives of the proposed Grade 10 Class Size Reduction Program established in the bill. The amendments of 3/11/99 removed reference to CalSTRS.
Provides an exemption to the post-retirement earnings limit for members who retired for service on or before July 1, 1998, and are subsequently employed by a high school to teach math and science from July 1, 2000, to July 1, 2002. Also authorizes a 50 percent tax credit through 2003 for qualified expenses, as defined, incurred in lending qualified employees to public high schools, community colleges, or vocational institutions for the purpose of teaching math and science.
Clarifies and conforms the existing earnings limit exemption for retired teachers, who returned to the classroom as a result of the K-3 Class Size Reduction Program, to include the recently authorized Grade 9 Class Size Reduction Program and the future expansions of the Class Size Reduction Programs authorized by Part 28 of the Education Code.
As introduced, would have authorized a member of the Defined Benefit Program to purchase up to three years of service credit for time served as a volunteer in the Peace Corps or the Volunteers In Service To America program. The bill also would have specified that such credit can not be purchased if the member received or is eligible to receive credit for the same time in the Cash Balance Benefit Program, or another retirement system. The amendments of April 27, 1999, removed reference to CalSTRS.
Establishes various state agency procedures for mitigating computing, accounting and data problems associated with the so-called “Year 2000 Problem.” The amendments of March 24, 1999, removed reference to CalSTRS.
Establishes the Replacements Benefit Program in compliance with Internal Revenue Code Section 415. Rescinds the election CalSTRS made exempting certain members from IRC 415 benefit limits. Also requires CalSTRS to restore benefits to certain members previously limited by federal law.
Version: Chaptered (Chapter 465, Statutes of 1999)
Would have permitted a member of the Defined Benefit Program to retire for service on or after July 1, 2000, as early as age 55 without the reduction for early retirement, provided the sum of the member’s age and service credit is at least 85.
Establishes the minimum annual allowance payable to specified retired members of the Defined Benefit Program, their option beneficiaries and surviving spouses in varied amounts according to the member’s years of credited service.
Would have extended the benefit enhancements enacted in 1999 to members of the Defined Benefit Program who retired or received their first check in 1998. Also would have increased the benefits of those members who are currently retired, but return to service for one year and whose total credited service equals or exceeds 30 years to reflect the “career bonus” in their entire allowance.
Authorizes any World War II slave labor or forced labor victim, or heir of the victim, to bring a court action in California to recover compensation for labor performed, against any entity or successor in interest who received the benefit of that labor. Requires CalSTRS to monitor and report until 12/31/2010, on investments in companies that do business in California that owe compensation to victims of slave labor from 1929 to 1945.
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