The Governmental Accounting Standards Board has updated the reporting standards for pensions and other postemployment benefits obligations. Employers are encouraged to review the changes and determine their effect on the financial statements. CalSTRS has compiled resources to help understand the new guidelines and changes needed to implement them.
GASB Statement No. 67, Financial Reporting for Pension Plans, was implemented in CalSTRS fiscal year 2013-14 financial statements.
GASB Statement No. 68, Accounting and Financial Reporting for Pensions, was effective for plan employers in fiscal year 2014-15.
GASB 67 and 68 substantially revise financial reporting standards for state and local government defined benefit and defined contribution pension plans that are administered through trusts or equivalent arrangements.
Electronic privacy is crucial for the ongoing success of the Internet as a convenient means to provide customer service. Your personal information will be used only to conduct CalSTRS-related business.
The California State Teachers’ Retirement System website has been developed in compliance with California Government Code §11135, which requires that all electronic and information technology developed or purchased by the State of California is accessible to people with disabilities. There are various types of physical disabilities that impact user interaction on the web. Vision loss, hearing loss, limited manual dexterity, and cognitive disabilities are examples, with each having different means by which to access electronic information effectively.