Teachers' Retirement Board Responsibility

Mar. 8, 2010 CalSTRS-ca
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CalSTRS is committed to providing you with a reliable retirement. A bit of history: In 1913 (long before Social Security was conceived), groups of educators like you and the Legislature created the teachers’ retirement system. Their goal was to create a loyal workforce and a reliable retirement. Together, we have done that for 97 years.

CalSTRS is governed by the Teachers’ Retirement Board, a group of 12 individuals who are appointed and elected. The California Constitution states that the “retirement board shall have the sole and exclusive fiduciary responsibility over the assets of the public pension or retirement system.”

What is Fiduciary Responsibility?

Mar. 8, 2010 CalSTRS-ca
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Board members have a duty to make decisions in the best interest of generations of California public educators.

Governing with Transparency

Mar. 8, 2010 CalSTRS-ca
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The Teachers’ Retirement Board has been recognized for leadership in transparent governance and accountability.

Board Directions

Mar. 8, 2010 CalSTRS-ca
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The economic turmoil in Fiscal Year 2008-09 doubled our unfunded liability. Investment returns alone can’t address the shortfall. And it is for the current as well as future generations of teachers that the Board must exercise its fiduciary duty and develop sound funding solutions. If we do nothing, core benefits guaranteed by the U.S. and California constitutions would be paid by the state General Fund—at a greater cost than if we act sooner.

Actions for Success

Mar. 11, 2010 CalSTRS-ca
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Since 2006, the Teachers’ Retirement Board has been talking to our stakeholder groups—active members, retired members, administrators, school districts and the Legislature—about the need to address the funding shortfall. Unlike other pension systems, the Legislature and the Governor determine CalSTRS pension contribution rates and local employers determine health benefit support.

Board Investment Policy

Mar. 15, 2010 CalSTRS-ca
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As a long-term investor, CalSTRS duty is to protect the fund assets through the pursuit of good government and operational accountability.

Arthur Levitt Speaks to Teachers' Retirement Board

Mar. 17, 2010 Chad Christman
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Former SEC Chairman