The state General Fund makes annual payments to the State Teachers' Retirement System in order to reduce the retirement contribution burden on members and school districts.
Effective July 1, 2003, the annual General Fund contribution to the California State Teachers' Retirement System (CalSTRS) is based on 2.017 percent of the members' credible earnings of the fiscal year ending in the immediately preceding calendar year. Current law also provides for an additional state contribution when the State Teachers' Retirement Fund has a normal cost deficit or unfunded obligation for benefits in place on July 1, 1990. More.....