New State Law Allows Online-Only CalSTRS Annual Member Statements As of January 2014
Retirement Progress Reports go paperless, members must request a paper version, if desired.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced that, effective January 1, 2014, CalSTRS Retirement Progress Reports (RPR) will be available exclusively online, unless a paper version is requested. The change is enacted under Assembly Bill 989.
CalSTRS members are encouraged to log on to or create a secure online profile on the secure member website, myCalSTRS.com (myCalSTRS). Once logged in, members will be able to view current and past reports, as well as conduct business, such as change beneficiary designations, update contact information and more.
The CalSTRS RPR is distributed annually to more than 628,000 eligible members. The reports will be accessible only through myCalSTRS.
RPRs contain important member retirement information, including:
- A summary of benefit program transactions during the prior year.
- Accumulated service credit.
- Contribution and interest balances.
- Death benefit recipient and beneficiary information.
- Projections of retirement benefits for members at least 45 years of age.
“The move to online-only access will mean lower mailing and administrative costs while also adhering to CalSTRS’ commitment to sustainability efforts to conserve environmental resources,” said CalSTRS Chief Operating Officer Cassandra Lichnock.
Beginning February 1, 2014, CalSTRS members who prefer to receive paper copies of their annual RPR will have the opportunity to request mail delivery by:
- Logging on to myCalSTRS and updating their preferences.
- Submitting a Retirement Progress Reports Delivery Preference form (AS 2046), available at CalSTRS.com/forms.
- Requesting a delivery preference form by calling 800-228-5453, during regular business hours, 7 a.m. to 6 p.m. Pacific time.
To ensure mail delivery of the 2014 RPR, requests must be received by June 16, 2014. For detailed information, go to the RPR Going Paperless FAQ on CalSTRS.com.
The California State Teachers’ Retirement System, with a portfolio valued at $176.4 billion as of November 30, 2013, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits. For 100 years, CalSTRS has served California’s public school educators and their families, who today number 862,000 from the state’s 1,600 school districts, county offices of education and community college districts.