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.
Allows Cash Balance Benefit Program participants to vote in all board elections; specifies candidates must run for the seat in which they accrued the most service during prior school year and extends reimbursement provisions.
As of the March 20, 2003, amendments, this bill no longer applies to CalSTRS. In the introduced version, the bill would have provided an exemption from the post-retirement earnings limit to members retired on or before 1/1/03, if the member returns to provide direct classroom instruction to pupils in K-12 or to provide support to various teacher groups.
Version: Chaptered (Chapter 147, Statutes of 2004)
Requires state or local agencies that invest public funds with, or purchase financial instruments from, financial institutions to utilize a financial institution that has a specified rating under the federal Community Reinvestment Act.
Allows CalSTRS to calculate benefits for certain part-time community college faculty under the benefit structure that was in place on June 30, 1996, and compare that benefit to the benefit that is currently payable or would be payable under the existing benefit structure and provide the member with the higher of the two benefits.
Version: Chaptered (Chapter 442, Statutes of 2004)
Expands eligibility to receive a partial lump-sum benefit. Eliminates the one-year prohibition on employment in a California public school for retired members who receive a retirement incentive. Also includes community colleges and county offices of education in the five-year prohibition on employment with the employer that granted a retirement incentive.
Version: Chaptered (Chapter 935, Statutes of 2004)
Allows Community College instructors who are concurrent members of the DB Program and CalPERS to use a portion of CalPERS service credit to qualify for CalSTRS benefit enhancements. Also allows members, who first retired prior to 1/1/1999, and reinstated to active service, to qualify for the benefit enhancements upon subsequent retirement.
Changes the divisor used in the calculation to convert accumulated unused sick leave to service credit for members of the Defined Benefit Program by requiring the divisor reflect the appropriate minimum full-time equivalent for each class of employees.
Extends the sunset date on the existing exemption from the earnings limit for retired Defined Benefit Program members who provide direct K-12 classroom instruction; also broadens the K-12 exemption to include instruction in special education and English language learner programs. Extends the date a member must retire by to qualify for the existing exemption for providing direct remedial instruction and K-12 classroom instruction. Establishes a two-year maximum on the earnings limit exemption for postretirement employment under a vacant administrative position.
Prohibits any member who retires with a Retirement Incentive Program benefit from accepting any job for up to one year from after their retirement date fom the district that granted the retirement incentive and makes technical amendments to the incentive programs established by Chapter 313, Statutes of 2003 (AB 1207—Corbett)
Bases the threshold for mandatory membership in the Defined Benefit Program for community college instructors on the employee’s basis of employment for the school year, as defined by the employer, rather than on the amount of service performed in one pay period.
Version: Chaptered (Chapter 474, Statutes of 2004)
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.
The California State Teachers’ Retirement System website has been developed in compliance with California Government Code §11135, which requires that all electronic and information technology developed or purchased by the State of California is accessible to people with disabilities. There are various types of physical disabilities that impact user interaction on the web. Vision loss, hearing loss, limited manual dexterity, and cognitive disabilities are examples, with each having different means by which to access electronic information effectively.