CalSTRS Outlook

Making Sense of the Headlines
Volume 4, No. 2

CalSTRS Outlook is an email summary of the latest news releases and other items of interest related to CalSTRS benefits and services.

Statement Ricardo Duran

CalSTRS Statement on its Vote at the Disney Annual Shareholder Meeting
Combined Chair/CEO positions and executive compensation program are concerns.

The California State Teachers’ Retirement System (CalSTRS) issued the following statement regarding its votes at the Walt Disney Company Annual Shareholder Meeting in Phoenix, Ariz. on March 6.

Ask Jack Jack Ehnes

Members Ask: What’s Being Done to Get CalSTRS on Solid Financial Footing?

By law CalSTRS has a fixed contribution rate, thus the responsibility to adopt a funding solution rests with the Governor and the Legislature—not the CalSTRS board. Moreover, only the Legislature and the Governor can change the benefit structure, not the board.  As a result, CalSTRS has been working for some time to raise awareness of the Legislature and successive governors of our funding shortfall, the cost of waiting to address it and the ultimate risk failing to do so presents to the state’s General Fund.

Statement Ricardo Duran

CalSTRS Submits SCR 105 Report on System Funding to the Legislature
Sustaining Retirement Security for Future Generations: Funding the California State Teachers’ Retirement System

“On February 14, 2013, CalSTRS submitted its report of possible funding strategies, Sustaining Retirement Security for Future Generations: Funding the California State Teachers’ Retirement System, to the Legislature as requested by Senate Concurrent Resolution 105 (Negrete McLeod). The report doesn’t contain any single funding approach endorsed by the Teachers Retirement Board. However, from the board’s perspective as fiduciaries, the definitive approach to address the funding shortfall fully funds the Defined Benefit Program within a 30-year timeframe. This approach upholds consistency with accounting and actuarial standards.

Commands