Posts Tagged: CalSTRS


New accounting rules swell CalSTRS’ debt

New government accounting rules will more than double the pension debt reported by CalSTRS, boosting an “unfunded liability” that is now about $71 billion to a newly calculated “Net Pension Liability” of $166.9 billion.


Hikes in teachers’ pension benefits spurred CalSTRS debt

If not for pension and benefit increases as the stock market boomed more than a decade ago, CalSTRS would be one of the nation’s best-funded large retirement systems with 88 percent of the assets needed to pay promised pensions.


Instead, an annual report said last week, the CalSTRS funding level dropped from 69 percent


LAO: $4.5 billion rate hike for teachers’ pension fund

The nonpartisan Legislative Analyst’s Office yesterday recommended that the Legislature adopt a plan to fully fund CalSTRS in 30 years — an estimated cost of $4.5 billion a year, a hefty addition to current annual contributions totaling $5.7 billion.


That’s not likely to happen as the state, with a budget back in the black


Huge public pension losses could be offset by reforms

A nationwide study, including CalPERS and CalSTRS, projects that huge pension fund losses during the financial crisis will be offset over three decades by a wave of recently enacted cost-cutting reforms — but only if several things happen.


–Pension fund earnings forecasts must hit their target. Critics say the forecasts, 7.5 percent a year


Historic maneuvers haunt CalSTRS

Some still have hard feelings about what happened when CalSTRS, now deep in the red, had a brief funding surplus more than a decade ago: Teacher and state payments into the fund were cut, and retirement benefits were raised.


At a CalSTRS board meeting last week, Lois Shive, a representative of a retiree group,


Teachers’ pension fund needs $4.5 billion rate hike

A new report says CalSTRS needs $4.5 billion more a year to fully fund pensions over the next three decades, a 75 percent increase in the $6 billion total annual payments now being made by teachers, school districts and the state.


There is no cheap fix in the report. A final draft, scheduled to


CalSTRS takes aim at weapons investments

The nation’s second largest public pension fund, reacting to a mass school shooting in Connecticut last month, is taking a new look at the “social” impact of its $150 billion investment portfolio.


The California State Teachers Retirement System found that it owned stock, apparently in violation of its own policy, in the maker of


CalSTRS: Action on a long-delayed rate increase?

More money for the underfunded California State Teachers Retirement System may be considered by the Legislature next year, thanks to new attention from lawmakers and a state budget deficit narrowed by a voter-approved tax increase this month.


After years of ignoring pleas for a rate hike, the Legislature approved a resolution last August, SCR

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