CalSTRS Member Benefits - Discuss & Share

The Importance of Good Governance

Jack Ehnes — Thu, 10 May 2012 19:01:24 +0000

With the recent allegations of corporate misconduct, fraud and bribery, corporate accountability has become a high-profile issue. Media reports of questionable leadership underscore the role boards of directors play in the long-term growth of publicly held companies. Concerned investors like CalSTRS, want assurance that governance safeguards and effective internal controls are put in place to mitigate any future risk.

May. 10, 2013

Does CalSTRS provide protection from creditor attachments like federal ERISA plans?

Jack Ehnes — Tue, 08 May 2012 23:31:24 +0000

Although CalSTRS is not subject to the anti-assignment rules of ERISA or Internal Revenue Code Section 401(a)(13), the Teachers’ Retirement Law does provide protection from creditor attachments or what is referred to as an anti-assignment provision under Section 22006. This section of the law offers an exemption from creditors attempting to seek payment for debt by using a member’s pension benefit as payment.

May. 8, 2013

CalSTRS CEO Discusses Wal-Mart Lawsuit on CNBC

William Yee — Mon, 07 May 2012 21:03:35 +0000

CalSTRS CEO Jack Ehnes appeared on CNBC to discuss the lawsuit CalSTRS recently brought against Wal-Mart officials.

News Release: CalSTRS Files Suit Against Wal-Mart Officials

May. 8, 2013

Some Teachers' Pension Realities

William Yee — Fri, 04 May 2012 21:10:17 +0000

The Wall Street Journal

As a California teacher and chief negotiator for our teachers union, some clarification is in order regarding your April 23 editorial "California's Pension Tax."

CalSTRS Files Suit Against Wal-Mart Officials

William Yee — Fri, 04 May 2012 20:58:31 +0000

Wal-Mart's payment of bribes and internal cover-up at the highest levels prompt legal action in Delaware Court of Chancery.

WEST SACRAMENTO, CA – The Teachers' Retirement Board, the governing body of CalSTRS, today took legal action on behalf of Wal-Mart against current and former Wal-Mart board members. The derivative action lawsuit alleges bribery and a subsequent cover-up in the corporation's Mexico expansion.

May. 8, 2013

Pension Fix CalSTRS Needs is Long-Term Funding Plan

William Yee — Thu, 03 May 2012 20:19:09 +0000

Bloomberg

CalSTRS Deputy CEO Ed Derman responds to an April 23 commentary, "New California Taxes Pay for Pensions, Not Schools," on Bloomberg:

Pension Fix CalSTRS Needs is Long-Term Funding Plan

The April 23 commentary by David Crane, at the very least makes misleading assumptions and diverts attention from the real issues CalSTRS faces.

Unlike most other pension plans, the CalSTRS board has no authority to increase contributions, but instead must rely upon legislative action by the Legislature and Governor. As a former board member, Crane should understand this. Contrary to his claim that CalSTRS waited too long to seek increases, CalSTRS has been communicating this need to the Legislature and the Governor since 2006. In fact, Crane was sitting on the board when discussions that led to those efforts took place.

Read more at Bloomberg

May. 3, 2013

Why have all the postretirement earnings limitation exemptions been eliminated?

Jack Ehnes — Tue, 01 May 2012 17:47:59 +0000

The postretirement earnings limitation exemptions are set by the Teachers’ Retirement Law and contain a sunset date. That date is June 30, 2012. When a law contains a sunset date, it will expire or sunset on the determined date unless an extension in the law or the enactment of a new law occurs.

In the case of the postretirement earnings limit exemptions, legislation to extend the exemptions has not been enacted.

May. 1, 2013

CalSTRS Responds on "Pension Perception"

William Yee — Tue, 01 May 2012 16:07:10 +0000

Los Angeles Daily News

Re "Pension Perception" (Editorial, April 13):

The editorial inaccurately blames pension spiking and members who continue receiving benefits after felony convictions for the unfunded liability at CalSTRS. The law requires CalSTRS to make such payments. Fortunately, both are rare.

CalSTRS CIO Discusses Euro Zone Crisis and Investments on CNBC

William Yee — Mon, 30 Apr 2012 21:22:25 +0000

Chris Ailman, CalSTRS CIO, talks with CNBC's "Closing Bell" regarding the impact of the euro zone crisis on the global economy and where CalSTRS is investing.

Watch the video at CNBC

Apr. 30, 2013

What forms of compensation allowed in postretirement employment are not subject to the earnings limitation of $31,020?

Jack Ehnes — Mon, 23 Apr 2012 15:41:35 +0000

Any service that would have been creditable for CalSTRS before your retirement is subject to the earnings limitation, irrespective of whether you are employed directly by the school district or by a third party contractor. Non-creditable compensation including a fringe benefit, such as free parking is excluded from the earnings limitation.

Apr. 23, 2013