Learn About CalSTRS Funding

Oct. 29, 2010 William Yee
in
Perspectives: CalSTRS 2011

Presentation

Part 1: Presentation

Watch the CalSTRS Fall Webinar, Perspectives: CalSTRS 2011.

Presented by CalSTRS CEO Jack Ehnes and Deputy CEO Peggy Plett on October 26, 2010, the webinar focused on sorting fact from fiction surrounding retirement benefits and the long-term funding status of CalSTRS.

A member question and answer period followed the presentation. Member questions that were not answered during the call are answered in this post and will also be included in the next issue of CalSTRS Connections. If you have further questions not covered in this webinar, submit your question to Ask Jack.

Question & Answer Session

Question and Answer

Part 2: Question & Answer

In this part of the question and answer session, questions answered include:

  • Can the new Governor change the retirement age after taking office?
  • Can the CalSTRS Defined Benefit Program ever be changed?
  • Are there any retirees earning large pensions and are they part of the funding problem?
  • Should the Federal government solve the funding shortfall?
  • How does the funding gap affect me?
  • Why should I care about the funding gap if my pension is constitutionally guaranteed?
  • Will my CalSTRS retirement be enough to live on if I am newly vested?
  • What is the current investment assumption?

Question and Answer (continued)

Part 3: Question & Answer (cont.)

This part answers:

  • Is the longevity bonus due to sunset, and if so, when?
  • Why are mid-career teachers with Social Security being penalized?
  • What percent of my pension do employers contribute?
  • Who is managing the CalSTRS fund and how successful have they been?
  • What is being done to prevent administrators from spiking their last year of service?

Question and Answer (continued)

Part 4: Question & Answer (cont.)

And the final part of the question and answer session answers:

  • Will you comment on a recent report that addresses the impact of public pensions on state and local budgets?
  • Is it going to be more difficult to obtain CalSTRS disability retirement because of the funding shortage?
  • I may be leaving teaching. Can I pull my CalSTRS benefits out and will I be penalized if I do?
  • If I work half a contract in the next few years, how will this affect my final pension?
  • How will CalSTRS be affected if the State of California were to go bankrupt?