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Christopher Ailman, chief investment officer at the California State Teachers’ Retirement System, will retire at the end of June. Ailman joined CalSTRS as CIO in October 2000.
CalSTRS’ investment porftolio performed better than CalPERS and most U.S. pension funds. But it still lost money for 1st time since 2009.
CalSTRS was established by law in 1913 and is part of the State of California's Government Operations Agency. As of September 2020, CalSTRS is the largest teachers' retirement fund in the United States. CalSTRS is also currently the eleventh largest public pension fund in the world. [2]
Teacher Retirement System of Texas: $146,326 $146,326 79.7% 8.0% 7 New York State Teachers: $115,637 $115,637 94.2% 7.5% 8 State of Wisconsin Investment Board: $109,960 $105,155 N/A N/A 9 North Carolina Retirement: $106,946 $96,094 88.3% 7.3% 10 Washington State Investment Board: $104,260 $86,615 85.5% 7.7% 11 Ohio Public Employees Retirement ...
In another study, Equable Institute found that the total lifetime value of teacher pension benefits have declined by $100,000 on average (13%) since 2005. A teacher hired for the 2005 school year can expect to earn $768,000 in retirement benefits, where as a teacher hired for the 2023 school year can expect to earn $668,000. [19
The Social Security Fairness Act, which would increase benefits for 2.8 million retirees, has bipartisan support but time running out.
The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families".
Assembly Democrats’ $17B plan to cut California budget deficit breaks with Newsom. ... plan to use about half of the state’s reserves, “leaving more than $18 billion of reserves at the end ...