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 required community college districts to offer an alternative retirement plan and Social Security to all of their part-time employees. The amendments of 9/14/01 removed reference to CalSTRS.
Version: Chaptered (Chapter 364, Statutes of 2001)
Among other things, requires CalSTRS to notify members about the time constraints and possible requirements of passing the California Basic Education Skills Test if the member has been absent from the classroom for at least 39 months and wants to return to the classroom.
Version: Chaptered (Chapter 734, Statutes of 2001)
Permits any CalPERS member with at least five years service credit who accepts employment to perform creditable service subject to coverage under the CalSTRS Defined Benefit Program to retain their membership in CalPERS.
Credits a member’s Defined Benefit Supplement account based on his or her years of credited service. Also requires CalSTRS to pay the Medicare Part B premiums of currently active and retired DB members who are at least 55 years of age as of January 1, 2002. Requires CalSTRS to establish a nominal account for each member of the DB Program that retired before January 1, 2000, and credit it with $600 per year to pay their health care insurance premiums.
Eliminates the requirement that a dependent child between the
ages of 18 and 22 must maintain full-time student status to remain eligible for the dependent child’s portion of benefits under Coverage A. Increases the loan limit for home loans under Home Loan Program. Allows Cash Balance Benefit Program participants to purchase certain DB Program service
credit. Also appropriates funds from the Teachers’ Retirement Fund to the
Teachers’ Retirement Board to pay costs associated with post-2001 benefit
changes.
Makes a variety of technical and conforming changes to the Teachers’ Retirement Law to facilitate efficient administration of the Teachers’ Retirement Plan.
Version: Chaptered (Chapter 803, Statutes of 2001)
AB 135 (Havice) – Purchasing Power Protection
Increases purchasing power protection from 75 percent to 80 percent.
CalSTRS Analysis:
As Amended 5/31/2001
As Amended 3/22/2001
AB 607 (Negrete McLeod) – Career Factor
Increase from 2.4 percent to 2.6 percent the limit on the combined age factor and career factor for members who retire on or after January 1, 2002.
CalSTRS Analysis:
As Introduced 2/22/2001
AB 649 (Negrete McLeod) – Part-time Community College Employees
As introduced, would have required community college districts to offer an alternative retirement plan and Social Security to all of their part-time employees. The amendments of 9/14/01 removed reference to CalSTRS.
CalSTRS Analysis:
As Amended 8/30/2001
As Amended 7/09/2001
As Amended 5/02/2001
As Introduced 2/22/2001
AB 804 (Education) – Notice of CBEST Requirements
Among other things, requires CalSTRS to notify members about the time constraints and possible requirements of passing the California Basic Education Skills Test if the member has been absent from the classroom for at least 39 months and wants to return to the classroom.
CalSTRS Analysis:
As Amended 8/22/2001
AB 906 (Salinas) – Contribution Rates
Temporarily reduces employee contribution rates for specified state employees who are members of CalSTRS.
CalSTRS Analysis:
As Amended 9/14/2001
AJR 3 (Leonard) – Social Security Offset Provisions
Requests that the Congress repeal the Government Pension Offset and the Windfall Elimination Provision of the Social Security Act.
CalSTRS Analysis:
As Introduced 2/16/2001
SB 165 (O’Connell) – CalPERS/CalSTRS Coverage
Permits any CalPERS member with at least five years service credit who accepts employment to perform creditable service subject to coverage under the CalSTRS Defined Benefit Program to retain their membership in CalPERS.
CalSTRS Analysis:
As Amended 4/25/2001
As Introduced 2/01/2001
SB 191 (Karnette) – Retirement and Health Benefits
Credits a member’s Defined Benefit Supplement account based on his or her years of credited service. Also requires CalSTRS to pay the Medicare Part B premiums of currently active and retired DB members who are at least 55 years of age as of January 1, 2002. Requires CalSTRS to establish a nominal account for each member of the DB Program that retired before January 1, 2000, and credit it with $600 per year to pay their health care insurance premiums.
SB 334 (Ortiz) – Retirement Benefits Following Reinstatement
Increases benefits for members who retired for service, reinstate and perform creditable service for at least two additional years.
CalSTRS Analysis:
As Amended 9/05/2001
As Amended 3/28/2001
SB 499 (Soto) – Minor Program/Policy Changes
Eliminates the requirement that a dependent child between the
ages of 18 and 22 must maintain full-time student status to remain eligible for the dependent child’s portion of benefits under Coverage A. Increases the loan limit for home loans under Home Loan Program. Allows Cash Balance Benefit Program participants to purchase certain DB Program service
credit. Also appropriates funds from the Teachers’ Retirement Fund to the
Teachers’ Retirement Board to pay costs associated with post-2001 benefit
changes.
SB 501 (PE&R) – Technical Housekeeping
Makes a variety of technical and conforming changes to the Teachers’ Retirement Law to facilitate efficient administration of the Teachers’ Retirement Plan.
CalSTRS Analysis:
As Amended 8/27/2001
As Amended 7/05/2001
As Amended 5/16/2001
As Introduced 2/22/2001
SJR 4 (Soto) – Social Security Offset Provisions
Requests that the Congress repeal the Government Pension Offset and the Windfall Elimination Provision of the Social Security Act.
CalSTRS Analysis:
As Amended 7/05/2001
As Introduced 2/21/2001