WEST SACRAMENTO, Calif. (May 11, 2018) – The trustees of the California State Teachers’ Retirement System yesterday elected Dana Dillon as board chair and Sharon Hendricks as vice chair for the 2018-19 term. The Teachers’ Retirement Board nominates and elects its chair and vice chair annually. The newly-elected officers assume their posts immediately. The chair and vice chair provide board leadership for the largest educator-only pension fund in the world.
WEST SACRAMENTO, Calif. (May 10, 2018) – The Teachers’ Retirement Board today adopted the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2017, reflecting impacts from investment assumption changes while also noting continued progress toward the system’s long-term funding goals.
WEST SACRAMENTO, Calif. (May 9, 2018) – The California State Teachers’ Retirement System today unveiled a plan to prioritize engagement with makers and retailers of firearms that are illegal in California. The plan, approved unanimously by the Teachers’ Retirement Board, authorizes CalSTRS corporate governance staff to make firearms engagement activities a top priority by publicly engaging companies and potentially recommending that the board consider divestment if engagement efforts fail.
The purpose of this circular is to clarify the options available to employers regarding the reporting and remitting of contributions and the impact to members.
Supersedes 2011 Employer Information Circular Volume 27, Issue 5
The purpose of this circular is to clarify the options available to employers
regarding the reporting and remitting of contributions and the impact to members.
The purpose of this circular is to inform employers and other stakeholders that the board will meet in May 2018 and is expected to adopt a revised normal cost for CalSTRS 2% at 62 members, fully reflecting all of the new actuarial assumptions adopted in 2017. The new normal cost is expected to result in an increase of 1 percent of creditable compensation in the contribution rate for CalSTRS 2% at 62 members, adjusting that rate from 9.205 percent to 10.205 percent. The new contribution rate would be effective on July 1, 2018.
The employer contribution rate will continue to increase as per the schedule set in statute. For fiscal year 2018–19, the employer contribution rate to the Defined Benefit Program is 16.28 percent of creditable compensation.
The May board meeting will be broadcast online at CalSTRS.com/teachers-retirement-board. After the May meeting, CalSTRS will issue an Employer Directive to announce the actual contribution rates in effect for the 2018–19 fiscal year.
The purpose of this circular is to alert employers to the Internal Revenue Service pension plan limits for tax year 2018 and to inform employers of the creditable compensation limit under the Teachers’ Retirement Law for California State Teachers’ Retirement System (CalSTRS) members and participants who are subject to the California Public Employees’ Pension Reform Act of 2013 (PEPRA). CalSTRS is not authorized to give tax advice; accordingly, if you have any questions about these or any other Internal Revenue Code (IRC) sections, please contact your tax advisor or the Internal Revenue Service.
The following limits apply to benefits paid and compensation creditable to the Defined Benefit (DB), the Defined Benefit Supplement (DBS) and the Cash Balance (CB) Benefit programs.
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.