CalSTRS: The fighting fiduciaries

It’s the second largest public employees pension fund in the nation with post-stock market crash assets valued at $117 billion on April 30. But virtually alone among public pension systems in California, it’s unable to set its own contribution rates.

CalSTRS needs legislation. And in the face of a hurricane-force headwind, the board is continuing the long march to get a rate increase needed to close a growing unfunded liability projected in the future.