WEST SACRAMENTO, Calif. (May 9, 2019) – The Teachers’ Retirement Board today received the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2018. The actuarial valuation provides a snapshot-in-time of the system’s financial health, in addition to monitoring the system’s funding status and its ability to meet long-term commitments.
WEST SACRAMENTO, Calif. (May 9, 2019) – The trustees of the California State Teachers’ Retirement System today elected Sharon Hendricks as board chair and Harry Keiley as vice chair for the 2019-20 term.
WEST SACRAMENTO, Calif. (April 25, 2019)– The California State Teachers’ Retirement System today released its fifth annual Sustainability Report. The report, based on data from fiscal year 2017-18, uses the Global Reporting Initiative Standards: Core option.
In 1853, with the passage of the Act of March 3, 1853 (10 Stat. 244), the Federal Government gifted 5.5 million acres to the State of California to be used for the support of public education. Between 1855 and 1984, nearly 90 percent of the “school lands” (all of the high quality land) was sold, leaving behind mostly desert land, most of which falls within the boundaries of the lands protected by the California Desert Protection Act.
Since 1984, the remaining lands have been under the trusteeship of the State Lands Commission with the proceeds from land sales reinvested into the trust and only the lease income flows to the Teacher Retirement System’s Supplemental Benefit Maintenance Account. The School Land Bank Fund currently holds 469,000± acres of land and another 790,000± acres of mineral rights where the surface rights have been previously sold.
In fiscal year 2012-13, school lands generated revenues of $10.6 million for CalSTRS, an increase of 52 percent from the previous year. Net revenue to CalSTRS from solid mineral leases increased substantially from $328,756 the previous year to $3.5 million, over a 900 percent increase from the previous year. Oil and gas lease revenue decreased to $1.98 million.
AB 982 Update – During the 2011 legislative session, the Legislature passed and Governor Brown signed Assembly Bill 982 which requires State Lands Commission staff, with the cooperation of the Department of the Interior, to enter into a memorandum of agreement concerning land exchanges in the desert areas of southern California.
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.