CalSTRS At a Glance

CalSTRS at a Glance


The California State Teachers’ Retirement System was established by law in 1913 to provide retirement benefits to California’s public school educators from prekindergarten through community college.

Today, CalSTRS is the largest educator-only pension fund in the world, and the second largest pension fund in the U.S.

The market value of the CalSTRS Investment Portfolio was approximately $246 billion as of October 31, 2019.

Our mission: Securing the financial future and sustaining the trust of California’s educators.

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Member Benefits

CalSTRS provides retirement, disability and survivor benefits for full-time and part-time California public school educators through a hybrid retirement system consisting of its Defined Benefit, Defined Benefit Supplement and Cash Balance Benefit programs, and a voluntary defined contribution plan called CalSTRS Pension2.


Teachers’ Retirement Board

The Teachers’ Retirement Board administers CalSTRS and sets policies and rules to ensure benefits are paid according to the law.

The 12-member board is composed of:

  • Three member-elected active CalSTRS members representing current educators.
  • One retired CalSTRS member appointed by the Governor and confirmed by the Senate.
  • Three public representatives appointed by the Governor and confirmed by the Senate.
  • One school board representative appointed by the Governor and confirmed by the Senate.
  • Four board members who serve in an ex-officio capacity by virtue of their office:
    • Director of Finance
    • State Controller
    • State Superintendent of Public Instruction
    • State Treasurer

Currently, two appointees are school board and retiree members. The three member-elected board members consist of one community college and two K-12 CalSTRS members.


Income Sources

The Teachers’ Retirement Fund is a special trust fund established by law that holds the assets of the CalSTRS Defined Benefit, Defined Benefit Supplement and Cash Balance Benefit programs. The assets come from contributions by employees, employers and the State of California. The fund’s investments provide a stream of income to add to those assets.

When selecting investments, the board applies standards of safety, diversification, liquidity and structure for a complete and profitable investment portfolio. The portfolio includes stocks, bonds, real estate and short-term investments. Within these categories, CalSTRS further diversifies by holding a variety of investments within each segment.

General Information

Executive Staff

The CalSTRS Executive staff are committed to administering the direction set by the Teachers’ Retirement Board and are responsible for day-to-day operations of the system.