Will the Governor’s 12-point pension reform proposal affect reciprocity between CalPERS and CalSTRS?
CalSTRS is thoroughly reviewing the Governor’s pension reform proposal and any potential implications that may follow. It is important to keep in mind that this is currently only a proposal and will be further discussed in the Legislature.
Meantime, we do not anticipate any direct effect on concurrent retirement, or what some may refer to as reciprocity, between the CalPERS and CalSTRS plans. Again, the most pressing need CalSTRS has is a plan of action to address the long-term funding shortfall, which only the Legislature and Governor have the authority to implement.