CALSTRS stands for the California State Teachers' Retirement System. It is a public pension fund that provides retirement, disability, and survivor benefits to qualified California educators. CALSTRS is one of the largest pension funds in the United States, overseeing the retirement benefits of over 965,000 active and retired educators.
Established in 1913, CALSTRS is governed by a thirteen-member board and operates as an independent entity, separate from the state of California. The fund is financed through contributions from its members, the state government, and investment returns. It aims to ensure the financial security of California's public school educators by safeguarding and growing their retirement investments.
CALSTRS offers a defined benefit pension plan, which guarantees a fixed monthly retirement payment based on factors like years of service, salary history, and age at retirement. The system also includes provisions for disability and survivor benefits, ensuring financial support for members and their families in the event of an unforeseen circumstance.
In addition to managing pension benefits, CALSTRS also prioritizes sustainable and responsible investment practices. It actively engages with companies on environmental, social, and governance issues, aiming to promote long-term value and sustainability in its investment portfolio.
Overall, CALSTRS plays a crucial role in providing retirement security for California educators and their families, allowing them to enjoy a financially stable post-career life.
