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.
