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December 21, 2024 at 9:25 AM. ... Later, she became a public school teacher in the San Francisco Bay Area, paying into CalSTRS, California's educator pension fund. However, her plans for ...
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]
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".
At the same time Moody's downgraded CalSTRS' Baseline Credit Assessment (BCA) to ba3, reflecting a weakening of the State Teacher Retirement Plan's (STRP) funded status on a market valued basis.
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Additionally, the department licenses and regulates a variety of financial businesses, including securities brokers and dealers, investment advisers, payday lenders, certain fiduciaries, and nonbank lenders. The department also regulates the offer and sale of securities, franchises, and off-exchange commodities. [1]
From 2013 to 2015, Harris pursued financial recoveries for California's public employee and teacher's pensions, CalPERS and CalSTRS against various financial giants for misrepresentation in the sale of mortgage-backed securities.
California’s state payroll climbed by 8.5% last year, totaling $23.6 billion.