Our Mission:
"Securing the financial future and sustaining the trust of California's educators."
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CalSTRS administers a hybrid system as part of a comprehensive financial security package for members that includes:
- Defined Benefit Program - a traditional defined benefit plan
- Pension based on a formula using age, service and compensation.
- Member participation is mandatory.
- Pension2 - a defined contribution plan
- Voluntary retirement savings through 403(b) and 457(b) plans.
- Participation is optional.
CalSTRS Facts:
- Largest U.S. teachers' retirement fund
- Membership: 856,360
- Assets:
$152.9 billion
as of
March 31, 2012.
Teachers' Retirement Board
The Teachers Retirement Board has exclusive control over the investment and administration of the Teachers Retirement Fund.
The board:
- Makes rules, sets policies
- Has the power and authority to hear and determine all facts pertaining to application for benefits under the retirement system
- Is comprised of 12 members
- Five members appointed by governor, including three public members
- Four ex-officio members:
- Superintendent of Public Instruction
- State Treasurer
- State Controller
- Director of Finance
- Three members elected by CalSTRS membership
Income Sources
CalSTRS income is derived from member contributions, employing school
district contributions, investment earnings,
and appropriations from the state's General Fund. The cost of administration is paid from the State Teachers Retirement Fund.
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