Mission:
"Securing the financial future and sustaining the trust of California's educators."
CalSTRS primary responsibility is to provide retirement related benefits and services
to teachers in public schools and community colleges.
- Largest U.S. teachers' retirement fund
- Second largest U.S. public pension fund
- Membership: 795,000
- Assets :
$158.7 billion
as of
August 31, 2008.
State Teachers' Retirement Board
The State Teachers’ Retirement Board
has exclusive control over the investment and administration of the Teachers’ Retirement Fund.
- Makes rules, sets policies
- Has the power, authority to hear and determine all facts pertaining to application for benefits under the retirement system
- Comprised of twelve members
- Five members appointed by governor, including three public members
- Four ex-officio members: Superintendent of Public Instruction, State Treasurer,
State Controller, and 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 General Fund. The cost of administration is paid
from the State Teachers’ Retirement Fund.
Benefits
CalSTRS is responsible for the determination and payment of benefits
to members, retirees, and beneficiaries, and for the distribution of information
to all members, employers, and other interested groups.
CalSTRS provides three basic benefits:
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