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.
Freezes any state employee’s salary whose base salary is greater than $150,000 until January 1, 2012, and prohibits them from receiving payment for overtime work.
Authorizes the Teachers’ Retirement Board to implement technology improvements in the delivery of benefits and services to members, participants and beneficiaries.
Encourages CalSTRS to examine the feasibility and cost-effectiveness of either creating a new program for part-time community college instructors or making appropriate modifications to the Defined Benefit Program to more appropriately reflect the career of a part-time community college instructor.
Makes the quitclaim or relinquishment of a lease of state lands effective upon completion of the abandonment of all facilities and reclamation of the lease premises.
As of July 1, 2010, prohibits retirees under the normal retirement age of 60 from working in any CalSTRS-related service for the first six calendar months after retirement. Extends the sunset dates for the post-retirement earnings limit exemptions to June 30, 2012, and expands eligibility, where applicable, to members who retired on or before January 1, 2009. States that the vacant administrative position emergency exemption shall not apply to a retiree whose retirement is the basis for the vacant administrator position.
As of July 1, 2010, modifies the definition of “regular interest” and clarifies the application of regular interest to the installments that employers make when paying for employee retirement incentives. Also establishes a basis for the consistent assessment of interest and penalties for late payment of contributions and late submission of reports.
Version: Chaptered (Chapter 249, Statutes of 2009)
Expands post-employment restrictions for specified CalSTRS employees or Teachers’ Retirement Board members and requires additional disclosures of placement agent fees and activities to prevent “pay-for-play” activities with public pension investments. Also increases transparency and accountability.
Version: Chaptered (Chapter 301, Statutes of 2009)
Requests the President and the United States Congress to enact the Social Security Fairness Act of 2009, which would repeal the Windfall Elimination Provision and the Government Pension Offset of the Social Security Act.
Version: Chaptered (Resolution Chapter 103, Statutes of 2009)
Provides that a member shall not forfeit his or her additional credit for service from a retirement enhancement if he or she is reemployed within 5 years after retirement as a substitute teacher by a school district from which he or she retired, if they terminate employment with that employer and provide CalSTRS an affidavit under penalty of perjury that they were unaware of the prohibition and they returned to work at the request of the employer.
Makes various technical and conforming changes to the Teachers’ Retirement Law to facilitate efficient administration of the State Teachers’ Retirement Plan.
Version: Chaptered (Chapter 304, Statutes of 2009)
AB 53 (Portantino) – State Employee Salary Freeze
Freezes any state employee’s salary whose base salary is greater than $150,000 until January 1, 2012, and prohibits them from receiving payment for overtime work.
CalSTRS Analysis:
As amended 3/25/2009
As amended 4/14/2009
AB 232 (Hill) – CalSTRS Green Technology
Authorizes the Teachers’ Retirement Board to implement technology improvements in the delivery of benefits and services to members, participants and beneficiaries.
CalSTRS Analysis:
As amended 4/16/2009
AB 360 (Ma) – Part-Time Community College Instructor Study
Encourages CalSTRS to examine the feasibility and cost-effectiveness of either creating a new program for part-time community college instructors or making appropriate modifications to the Defined Benefit Program to more appropriately reflect the career of a part-time community college instructor.
AB 368 (Skinner) – School Lands Leases: Quitclaims
Makes the quitclaim or relinquishment of a lease of state lands effective upon completion of the abandonment of all facilities and reclamation of the lease premises.
CalSTRS Analysis:
As introduced 2/23/2009
AB 399 (Brownley) – Furloughed State Employees
Preserves the retirement benefits of furloughed state employees.
AB 506 (Furutani) – Post-Retirement Earnings Limit
As of July 1, 2010, prohibits retirees under the normal retirement age of 60 from working in any CalSTRS-related service for the first six calendar months after retirement. Extends the sunset dates for the post-retirement earnings limit exemptions to June 30, 2012, and expands eligibility, where applicable, to members who retired on or before January 1, 2009. States that the vacant administrative position emergency exemption shall not apply to a retiree whose retirement is the basis for the vacant administrator position.
AB 654 (Mendoza) – Penalties and Interest
As of July 1, 2010, modifies the definition of “regular interest” and clarifies the application of regular interest to the installments that employers make when paying for employee retirement incentives. Also establishes a basis for the consistent assessment of interest and penalties for late payment of contributions and late submission of reports.
CalSTRS Analysis:
As amended 4/23/2009
As amended 6/1/2009
AB 1267 (Eng) – Longevity Bonus Sunset Date Extension
Extends the sunset date for eligibility for the longevity bonus to members who earn 30 years of service credit by July 1, 2016.
AB 1584 (Hernandez) – Placement Agents
Expands post-employment restrictions for specified CalSTRS employees or Teachers’ Retirement Board members and requires additional disclosures of placement agent fees and activities to prevent “pay-for-play” activities with public pension investments. Also increases transparency and accountability.
CalSTRS Analysis:
As amended 6/18/2009
AJR 10 (Torlakson) – Social Security Offsets
Requests the President and the United States Congress to enact the Social Security Fairness Act of 2009, which would repeal the Windfall Elimination Provision and the Government Pension Offset of the Social Security Act.
SB 280 (Calderon) – Retirement Incentive Exemption for Substitute Teachers
Provides that a member shall not forfeit his or her additional credit for service from a retirement enhancement if he or she is reemployed within 5 years after retirement as a substitute teacher by a school district from which he or she retired, if they terminate employment with that employer and provide CalSTRS an affidavit under penalty of perjury that they were unaware of the prohibition and they returned to work at the request of the employer.
SB 634 (PE&R) – Technical Housekeeping Bill
Makes various technical and conforming changes to the Teachers’ Retirement Law to facilitate efficient administration of the State Teachers’ Retirement Plan.
CalSTRS Analysis:
As introduced 2/27/09
As amended 6/4/09