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2020 legislation

Each year the Legislature introduces legislation that affects CalSTRS, its members, or their beneficiaries. Below is a listing of legislation sponsored by the Teachers’ Retirement Board or other legislation enacted into law. Listings of CalSTRS legislation include the bill number, authors, CalSTRS' bill analyses, bill summary, the board's official position and the bill's status in the Legislature.

AB 2510 (Cooley) – CalSTRS investment procurement

Seeks to expand the Collaborative Model, a Teachers’ Retirement Board-sponsored effort to reduce costs by managing assets internally and expanding opportunities with external partners. Grants the board prudent flexibility to contract with investment managers and investment advisers under policies it adopts. Working closely with external managers and advisers would allow CalSTRS staff to cultivate knowledge of innovative investment strategies and to form lucrative, efficient and cost-effective investment partnerships.

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AB 2998 (Kiley) – Defined contribution plan for California educators

The Rising Academic Instructor Salaries in Education (RAISE) Act, permits school districts to offer a defined contribution (DC) plan to certificated employees in lieu of the CalSTRS Defined Benefit (DB) Program. To incentivize participation in a DC plan, the bill allows school districts to offer higher salaries or lower contribution rates for those who opt into the plan and allows certificated employees to individually negotiate salaries and plan contribution rates outside of the salary schedule set forth in a collective bargaining agreement.

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