Getting it Right
Educators, school employers, the California Legislature and the California State Teachers’ Retirement System (CalSTRS) have created the second largest public pension fund in the nation. Since 1913, CalSTRS has delivered on promised benefits.
Despite prudent money management, CalSTRS has a projected funding shortfall. This funding gap is the dollar amount needed to pay future benefits. As of June 30, 2008, the estimated shortfall is $22.5 billion. The shortfall is expected to increase based on the June 30, 2009 fund valuation due in September 2010.
Benefits for current and retired members are guaranteed by the California Constitution and protected by the U.S. and California constitutions. Learn More >>