The Blog

Capitol News: Most Pension System Changes Affect New Hires

The effective date of laws "reforming" the state's public pension systems – CalSTRS and the California Public Employees' Retirement System (CalPERS) -- is January 1, 2013.  These changes generally impact new employees, although some of the revisions will also affect employees hired on or before December 31, 2012.

Please visit the CTA website, which provides more information on retirement legislation.

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CalSTRS to question corporations on political spending

The California State Teachers’ Retirement System (CalSTRS), the 2nd largest pension fund in the country, has just announced it may push corporations to disclose their political donations, under a policy adopted by the CalSTRS investment committee.

The new CalSTRS policy would declare that corporate boards are responsible for political spending by their companies and that contributions should be “in the best interest of shareholders".

CalSTRS hopes to set the standard and that other pension systems will follow their lead in adopting this policy.

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