K thru 12 Education
6300 Teachers Retirement System Contributions

The state General Fund makes annual payments to the California State Teachers' Retirement System (CalSTRS) in order to reduce the retirement contribution burden on members and school districts.

Effective July 1, 2003, the annual General Fund contribution to the CalSTRS is based on 2.017 percent of the members' creditable 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. This contribution is 0. More.....

MAJOR PROGRAM CHANGES Back to Top
  • The state makes annual General Fund contributions to the Supplemental Benefit Maintenance Account (SBMA) of 2.5 percent of teacher payroll for purchasing power protection. An actuarial analysis performed in 2005 at the direction of the Department of Finance shows that the SBMA has more than enough money to provide the purchasing power protection for current and future retired teachers. The Administration is proposing to fully vest the benefit at 80 percent purchasing power protection, which would provide increases to the future value of this program for retired teachers. As a result of the funded status of the SBMA, the state will be able to fully vest the purchasing power protection and reduce the state's contributions to the SBMA from 2.5 percent to 2.2 percent of salary consistent with the actuarial calculation. The savings from the reduced contribution equates to $80 million in 2008-09. In addition, payments of 1.1 percent each would be made on November 1 and April 1, instead of July 1 of each fiscal year.
PROGRAMS Back to Top
The following table presents total proposed budget year positions and expenditures for each budgeted program area. These expenditures include all funding sources that support the state agency's programs.
Code Program
 Proposed
2008-09*
Positions
Dollars
10 Benefits Funding
-
$535,603
20 Supplemental Benefits Maintenance
-
663,860
Totals, Positions and Expenditures (excluding Infrastructure)
-
$1,199,463
 
 Infrastructure Expenditures
-
-
Totals, Positions and All Expenditures
-
$1,199,463

Refer to the 3-Yr Expenditures & Positions for expenditures, positions, and funding detail.
PRINTABLE BUDGET DOCUMENTS Back to Top
The following identifies budget documents for this state agency that are available in a printable (pdf) format.

Entire Teachers Retirement System Contributions Budget (pdf * - 8K) in pdf format.
This document provides a printable format (pdf) of all budget information for this state agency. Note: Along with other information, this document includes the documents listed below.

 Detail of Appropriations and Adjustments ONLY (pdf * - 2K)
This document provides a printable format (pdf) of only the detail of appropriations and adjustments for this state agency.

ADDITIONAL INFORMATION Back to Top
Legal Citations and Authority
Includes the legal citations (state statutes, federal statutes, and court orders) for operation of department programs and activities.