News release | Rebecca Forée
WEST SACRAMENTO, Calif. (January 23, 2023) – The California State Teachers’ Retirement System today announced that Governor Newsom has reappointed William Prezant to a four-year term on the Teachers’ Retirement Board. The board oversees the retirement benefits for California’s prekindergarten through community college public school educators who are covered under CalSTRS. He also serves as chair of the CalSTRS Investment Committee.
Prezant is one of three public representatives appointed by the Governor to the 12-member board, and his term lasts through December 31, 2026. The appointment is subject to Senate confirmation.
More information about Prezant’s appointment is available on the Governor’s website.
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CalSTRS provides a secure retirement to more than 1 million members and beneficiaries whose CalSTRS-covered service is not eligible for Social Security participation. On average, members who retired in 2021–22 had 25 years of service and a monthly benefit of $4,809. Established in 1913, CalSTRS is the largest educator-only pension fund in the world with $302.1 billion in assets under management as of December 31, 2022. CalSTRS demonstrates its strong commitment to long-term corporate sustainability principles in its annual Sustainability Report. For more information, visit CalSTRS.com.