12/25/2024

New assessment shows California retired teachers’ account only 63.7 percent funded

The pension fund for California teachers is about $97 billion short of the assets it would need to pay all of the benefits it owes to its members today, according to a new valuation from the California State Teachers’ Retirement System.

CalSTRS released the new accounting ahead of its monthly meeting, which is scheduled for next week.

The $202 billion fund has about 63.7 percent of the assets it needs to pay the benefits it owes. That reflects a 4.8 percent decrease in CalSTRS’ funded ratio from its most recent assessment.

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