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.
Employer Information Circulars are sent to school district and community college employers as informal guidance that provides immediate information on a single topic.
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.
Pension Solution, the CalSTRS project to replace the current pension system technology and processes, is well underway. Before the conclusion of this significant project, multiple systems used by employers, CalSTRS staff and members will be replaced. The replacement of the current versions of the Secure Employer Website (SEW) and the Contribution Account Portal (CAP) will bring the greatest changes to employers.
The project is being rolled out in three phases to occur over the next several years.
The purpose of this circular is to inform employers of the 2017-18 fiscal year limit on creditable compensation for CalSTRS 2% at 62 Defined Benefit Program members and Cash Balance Benefit Program participants subject to the California Public Employees’ Pension Reform Act of 2013 (PEPRA).
The creditable compensation limit applies to compensation creditable to the Defined Benefit, Defined Benefit Supplement and Cash Balance Benefit programs.
In March 2017, CalSTRS will complete a 403bCompare.com website redesign. CalSTRS 403bCompare program resulted from legislation requiring CalSTRS to create an online resource for free objective information about 403(b) products offered by vendors that are registered with 403bCompare.
The purpose of this circular is to alert employers that the Internal Revenue Service has announced the pension plan limits for tax year 2017 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).
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.
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 purpose of this circular is to inform employers and other stakeholders of the decision-making process involved in determining the actuarial assumptions and to provide information regarding the impact and timing of any potential contribution rate increases for certain CalSTRS members and the state that may result from changes to these assumptions.
CalSTRS 2% at 62 Members and Cash Balance Participants Subject to PEPRA
The purpose of this circular is to inform employers of the 2016-17 fiscal year limit on creditable compensation for CalSTRS 2% at 62 Defined Benefit Program members and Cash Balance Benefit Program participants subject to the California Public Employees’ Pension Reform Act of 2013 (PEPRA).
In response to concerns about the difficulty employers are having in hiring teachers, including substitute teachers, during the current teacher shortage, the purpose of this circular is to inform employers that existing law provides for an exemption to the separation-from-service requirement imposed immediately after retirement if the retired CalSTRS Defined Benefit Program member or Cash Balance Benefit Program participant receiving an annuity is hired in a critically needed position and meets other eligibility criteria.
Supersedes Employer Information Circular Volume 25; Issue 11 (EIC09-11)
This employer information circular is to inform employers to discontinue the use of the CalPERS/CalSTRS Decision Tree.
The CalPERS/CalSTRS Decision Tree was developed as a job aid to help employers in determining if an employee is eligible to make a retirement system election or permissive membership election. It was not intended to take precedence over the law. CalSTRS does not rely on the scenarios outlined in the CalPERS/CalSTRS Decision Tree when determining retirement system election or permissive membership election eligibility; therefore, we are discontinuing the use of the CalPERS/CalSTRS Decision Tree.
The purpose of this circular is to alert employers that the Internal Revenue Service has announced the pension plan limits for tax year 2016 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).
The purpose of this employer information circular is to inform County Offices of Education, School Districts, Community Colleges and Charter Schools of common employer audit findings and provide guidance to avoid these findings in the future.
The purpose of this circular is to inform employers of the creditable compensation limit for Defined Benefit CalSTRS 2% at 62 members and Cash Balance participants subject to the California Public Employees’ Pension Reform Act of 2013 (PEPRA) for the 2015-16 fiscal year.
The purpose of this circular is to alert employers that the Internal Revenue Service has announced the pension plan limits for tax year 2015 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).
The purpose of this circular is to alert employers that on January 1, 2015, CalSTRS Creditable Compensation Regulations, Sections 27200 through 27602 of Chapter 2, Division 3, Title 5 of the California Code of Regulations become effective. The regulations clarify Education Code sections 22112.5, 22119.2 and 22905 and apply to CalSTRS 2% at 60 members.
Pension2, CalSTRS’ voluntary supplemental savings plan, is currently transitioning to its new recordkeeper, Voya FinancialTM, from TIAA-CREF. The purpose of this circular is to alert employers of the upcoming changes, in addition to providing information and resources to help make the transition easier for you and your employees.
The purpose of this circular is to alert employers that the creditable compensation limit for Defined Benefit CalSTRS 2% at 62 members and Cash Balance participants subject to the California Public Employees’ Pension Reform Act of 2013 (PEPRA) has changed for the 2014-15 fiscal year. The creditable compensation limit applies to compensation creditable to the Defined Benefit (DB), the Defined Benefit Supplement (DBS), and the Cash Balance (CB) Benefit programs.
The purpose of this circular is to alert employers that Governmental Accounting Standards Board Statement No. 68 (GASB 68), effective for fiscal years beginning after June 15, 2014, will result in significant changes to their financial statements as a participating employer in the State Teachers’ Retirement Plan (STRP), a cost-sharing, multiple-employer defined benefit pension plan.
The purpose of this circular is to alert employers that the Internal Revenue Service has announced the pension plan limits for tax year 2014 and to inform employers of the compensation limit under the Teachers’ Retirement Law for CalSTRS members and participants who are first hired to perform creditable service on or after January 1, 2013.
