CalSTRS
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| Agency overview | |
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| Formed | 1913 |
| Headquarters | 100 Waterfront Place, West Sacramento, California 38°35′04″N 121°30′34″W / 38.584426°N 121.50948°WCoordinates: 38°35′04″N 121°30′34″W / 38.584426°N 121.50948°W |
| Agency executives |
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| Parent agency | California Government Operations Agency |
| Website | www |
The California State Teachers' Retirement System (CalSTRS) provides retirement, disability and survivor benefits for California's 914,454 prekindergarten through community college educators and their families. CalSTRS was established by law in 1913 and is part of the State of California's Government Operations Agency. As of January 2017, CalSTRS is the largest teachers' retirement fund in the United States. CalSTRS is also currently the eleventh largest public pension fund in the world. As of January 31, 2017, CalSTRS managed a portfolio worth $198.7 billion.
CalSTRS members, as of June 30, 2016, include employees of approximately 1,700 employers:
The Teachers' Retirement Fund is a special trust fund established by law that holds the assets of the following programs:
The assets come from contributions by members, employing school districts, investment earnings and appropriations from the State of California's General Fund. The fund's investments create a stream of income to add to those assets.
The CalSTRS investment portfolio includes , bonds, real estate and short-term investments.
As of January 31, 2017, CalSTRS managed a portfolio worth $198.7 billion at market value. As of June 30, 2012, CalSTRS' assets were $143.1 billion at market value ($152.5 billion actuarial value), giving CalSTRS an unfunded liability of $80.4 billion at market value ($71 billion actuarial value).
The Teachers' Retirement Board is responsible for maintaining the Teachers' Retirement Fund in order to pay benefits to CalSTRS members and their survivors.
The Teachers' Retirement Board sets policies, makes rules for and administers CalSTRS. The Board is also responsible for ensuring benefits are paid by the system in accordance with law.
The 12-member Teachers' Retirement Board is made up of:
In February 2002, the Board appointed Jack Ehnes as Chief Executive Officer of CalSTRS to administer the system consistent with the Board's policies and rules. The Board also selected a Chief Investment Officer, (CIO) Christopher J. Ailman, to direct the investments of the Teachers' Retirement Fund in accordance with board policy.
Two advisory committees meet regularly to provide forums for active participation in the formation of CalSTRS policies and procedures. The Employer Advisory Committee is composed of county and district employer representatives and CalSTRS staff and meets quarterly, and the Client Advisory Committee includes CalSTRS staff and members from various organizations representing CalSTRS members and benefit recipients and meets regularly coinciding with Board meeting dates.
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