WEST SACRAMENTO, Calif. (May 22, 2019) – The California State Teachers’ Retirement System today announced that Global Equity Director June Kim has been selected as one of 22 Finance Leaders Fellows at the Aspen Institute, part of the Aspen Global Leadership Network. Fellows are nominated by a third party; each class of Fellows is made up of high-integrity, highly diverse individuals who have something to teach and to learn from the others.
WEST SACRAMENTO, Calif. (May 15, 2019) – The California State Teachers’ Retirement System today announced its acquisition of the majority interest in Fairfield Residential Company LLC from Brookfield Asset Management. Brookfield retained its interest in the investment manager of Fairfield’s affiliated real estate funds. Recently CalSTRS adopted a Collaborative Model for investments across all asset classes in its portfolio. This approach supports identifying and investing in strategic opportunities, such as the acquisition of real estate operating companies like Fairfield.
WEST SACRAMENTO, Calif. (May 9, 2019) – The Teachers’ Retirement Board today received the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2018. The actuarial valuation provides a snapshot-in-time of the system’s financial health, in addition to monitoring the system’s funding status and its ability to meet long-term commitments.
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)
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