April, 2017

26
Apr
2017

PARS Retirement Package entices 35 Moorpark Unified Teachers

Categories: California Developments,Early Retirement Incentives,PARS In the News

At its April 11 meeting, the Moorpart USD board of trustees voted 4-0 to implement the PARS Supplementary Retirement Plan (SRP), a move that will reduce payroll costs and save the district millions over five years.

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10
Apr
2017

CalSTRS Unfunded Liability and State Contribution Rate Increases

Categories: California Developments,Pension Rate Stabilization

On April 6, 2017, the California State Teachers’ Retirement System (CalSTRS) Board adopted the latest actuarial valuation of the retirement system. Despite increases in contribution rates by members, employers, and the state, the funded ratio decreased from 68.5% to 63.7%, and the unfunded actuarial obligation (commonly called the unfunded liability) increased from $76.2 billion to $96.7 billion.

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