FRESNO, Calif. (KMJ) — The California State Teachers’ Retirement System has reported a 6.8 percent return on investments for 2018.
The pension fund, which covers more than 600,000 educators, is valued at a record high figure of $236.9 billion.
However, its yearly ROI goal is 7 percent.
CalSTRS says it has only 64 percent of the money it needs to cover benefits over the next few decades, leaving a gap of more than $107 billion.
The latest state budget includes an extra $5 billion for the fund, in hopes of reducing state and employer contribution rates.
Both CalSTRS, and the larger CalPERS, have struggled significantly since the Great Recession.
Aaron Abeytia anchors afternoon newscasts on News/Talk 580 & 105.9 KMJ. Read More…
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