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.
Among other things, requires CalPERS consult with CalSTRS to evaluate the feasibility of creating a single statewide health care pool for all school employees and report its findings to the Legislature.
Version: Chaptered (Chapter 708, Statutes of 2005)
Requires the State Department of Education to develop actuarial study standards for school districts that provide their retirees with health and welfare benefits and report annually on districts’ progress funding those benefits. Also requires districts to perform an actuarial study of their retiree health and welfare benefit liabilities, identify a funding source and provide for payment in their budgets.
Requires an elected public officer convicted of a felony arising out of his or her official duties to forfeit the retirement benefits that accrue on or after January 1, 2006, solely as a result of his or her service in office and shall receive only the employee contributions made during his or her term.
Version: Chaptered (Chapter 322, Statutes of 2005)
Exempts Cash Balance Benefit Program participants called to active duty military service from paying employee contributions for 12 months if the period of uniformed service occurs between 9/11/01 and 7/30/06.
Reduces the period that a member of the Defined Benefit Supplement Program and a participant of the Cash Balance Benefit Program must wait before receiving a a termination benefit from one year to six months. Also prohibits the payment of more than one termination benefit under either program during a single five-year period.
Version: Chaptered (Chapter 661, Statutes of 2005)
Would create an exemption from the postretirement earnings limit for a retired member who is employed as a mentor for a principal to facilitate interventions for schools pursuant to certain state or federal provisions, subject to approval by the State Board of Education in consultation with the Superintendent of Public Instruction, and other restrictions.
Would have reduced the amount of workers’ compensation benefits paid to a member of the Defined Benefit Program who receives a disability or retirement allowance from CalSTRS so the total amount of benefits received does not exceed 90 percent of the member’s final compensation.
Makes various technical changes to the provisions of the Teachers’ Retirement Law that implemented the California Domestic Partner Rights and Responsibilities Act of 2003, including but not limited to, conforming spousal signature requirements on pre-retirement option election forms.
Version: Chaptered (Chapter 418, Statutes of 2005)
Requires that Senate confirmation of Governor’s appointees to the Teachers’ Retirement Board shall occur within a 90-day period and prohibits appointees from sitting on the Board or voting on any proposal until they have been confirmed.
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