CalSTRS

What CalSTRS does

CalSTRS (California State Teachers' Retirement System) is a public pension system established in 1913 under California state law to provide retirement, survivor, and disability benefits to the state's public school educators from prekindergarten through community college. It is the largest educator-only pension fund in the world, serving over 1 million active and retired members and beneficiaries, with $367.7 billion in total fund value as of June 30, 2025 and a Defined Benefit Program funded status of 76.7% as of June 30, 2024 — the seventh consecutive year of improvement. Membership is mandatory for California public school employees, and the system is funded through statutory contributions from members (10.205%–10.250%), employers (19.1%), and the state of California (10.828%).

The system's core technology stack centers on the myCalSTRS online member portal (redesigned September 2025 with self-service calculators, account management, form submission, and multifactor authentication), an employer reporting system integrated with California school districts and county offices, and an institutional investment portfolio management infrastructure supporting eight asset classes — Public Equity, Fixed Income, Real Estate, Private Equity, Risk Mitigating Strategies, Inflation Sensitive, Strategic Overlay and Cash, and Collaborative Strategies. The product portfolio is a hybrid retirement system layering the core Defined Benefit Program with the Defined Benefit Supplement, a Cash Balance Benefit Program for part-time educators, and Pension2 voluntary 403(b)/457(b)/Roth supplemental savings administered through Voya Financial.

CalSTRS has no commercial revenue model in the traditional sense. It charges no member fees for pension administration; its economics are defined by statutory contribution rates, long-duration investment returns (8.5% net for FY2024-25, 9.4% five-year, 8.1% ten-year — all above the 7.0% actuarial assumption), and a legislated 32-year path to full funding under AB 1469 (2014). Member outreach runs through the portal, Connections and Retired Educator newsletters, multi-stage webinars, member service centers, social channels (Facebook, LinkedIn, Instagram, YouTube), and the Pension Sense blog. The Teachers' Retirement Board governs the fund, with current leadership including CEO Cassandra Lichnock, CIO Scott Chan, Board Chair Denise Bradford, and Vice Chair Karen Yamamoto.

Name

CalSTRS

Legal name

California State Teachers' Retirement System

Website

http://www.calstrs.com

Company type

Public

Founded year

1913

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

CalSTRS is the California State Teachers' Retirement System, a public defined benefit pension fund established in 1913 that serves over 1 million California public educators and beneficiaries with $367.7 billion in assets under management.

Ownership category

akta.pro rank

Product category

Public Pension Fund Administration

NAICS

Pension Funds (525110), Pension Funds (52511), Insurance and Employee Benefit Funds (5251)

akta.pro primary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

akta.pro secondary industries

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), Employee Benefit & Retirement Plan Trust Services (FSAAANAC)

Keywords

• Public pension fund
• Defined benefit retirement
• Teacher retirement system
• Pension benefit administration
• Supplemental retirement savings

Headquarters

HQ city

West Sacramento

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Pension Contributions: CalSTRS is funded through contributions from three sources: CalSTRS members (10.250% for 2% at 60 members, 10.205% for 2% at 62 members), employers (19.1%), and the state of California (10.828%). These contributions fund the Defined Benefit Program for retirement, survivor, and disability benefits.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

CalSTRS administers a mandatory defined benefit pension system providing retirement, survivor, and disability benefits to California public school educators from prekindergarten through community college. The system manages a $367.7 billion diversified investment portfolio and supplements its core defined benefit with the Defined Benefit Supplement Program, Cash Balance Benefit Program, and Pension2 voluntary 403(b)/457(b) savings plans, with member access delivered via the myCalSTRS online portal and member service centers.

Product overview

CalSTRS operates as a hybrid retirement system consisting of multiple integrated programs: the core Defined Benefit Program (traditional pension with guaranteed monthly payments), the Defined Benefit Supplement Program (cash balance addition), the Cash Balance Benefit Program (for part-time educators), and Pension2 (voluntary 403(b)/457(b) supplemental savings). Members access these services through the myCalSTRS online portal, which provides retirement calculations, account management, forms, and self-service tools.

Differentiator

Problem solved

Functional benefit

Brands

• Pension2: CalSTRS voluntary supplemental savings plan offering 403(b), 457(b), Roth 403(b) and Roth 457(b) plans for additional retirement savings
• myCalSTRS
• Pension2
• 403bCompare

Products and services

• Defined Benefit Program Traditional mandatory defined benefit pension plan providing guaranteed lifetime retirement, survivor, and disability benefits based on a formula of service credit, age at retirement, and final compensation for California public school educators.
• Defined Benefit Supplement Program Cash balance component that provides additional annuity and earnings credits on top of the base Defined Benefit Program.
• Cash Balance Benefit Program Cash balance retirement benefit program for part-time educators and other eligible members that accumulates credits proportional to employment level.
• Pension2 Voluntary supplemental savings program offering 403(b), 457(b), Roth 403(b), and Roth 457(b) plans administered through Voya Financial to complement the CalSTRS retirement benefit with flexible investment options.
• myCalSTRS Member Portal Online member portal providing 24/7 access to CalSTRS accounts, retirement benefit estimates, account balance checks, profile updates, form submission, beneficiary management, 1099-R access, and direct deposit management.
• Survivor Benefits
• Disability Benefits

Quantifiable outcome

• 8.5% net return for fiscal year 2024-25, exceeding 7.0% actuarial assumption
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Others

• Voya Financial: Voya Financial administers the Pension2 supplemental savings plans (403(b)/457(b)) for CalSTRS members and is a broader retirement-plan administrator; it is an ecosystem partner and indirect peer in serving educator retirement savings needs.

Broad incumbents

• State Street Global Advisors: State Street Global Advisors is a major institutional asset manager that provides investment management services to large public pension funds, broadly comparable to CalSTRS in serving institutional retirement investors with diversified portfolios.
• Florida State Board of Administration: The Florida SBA manages the Florida Retirement System pension fund and other state assets, broadly comparable to CalSTRS as a large public asset pool, though it serves a wider set of state plans rather than educators only.
• Washington State Investment Board: WSIB manages pension and other state trust assets for Washington, comparable to CalSTRS in scale and institutional investment approach, though its portfolio spans multiple state retirement plans rather than a single educator-focused fund.

Direct peers

• CalPERS: California Public Employees' Retirement System is the state's other large public pension fund, with comparable defined benefit structure, California state sponsorship, and similar scale, making it the closest direct peer to CalSTRS in mandate, governance, and investment approach.
• Ohio State Teachers Retirement System: STRS Ohio is a large state-level educator pension fund with a defined benefit plan, similar in scope to CalSTRS and directly comparable in member demographics, plan design, and governance.
• New York State Common Retirement Fund: The New York State Common Retirement Fund is one of the largest U.S. public pension funds, comparable to CalSTRS in asset scale, defined benefit administration, and state-level governance.
• New York State Teachers' Retirement System: NYSTRS is one of the largest U.S. public pension funds dedicated to educators, with a defined benefit structure serving New York teachers, directly comparable to CalSTRS in mission, member base, and plan design.
• Texas Teacher Retirement System: TRS of Texas is a major educator-only public pension fund with a defined benefit plan, making it a directly comparable peer in target membership, plan architecture, and large-scale public pension operations.
• Pennsylvania Public School Employees' Retirement System: PSERS is a public defined benefit pension fund for Pennsylvania school employees, comparable to CalSTRS in serving K-14 public educators and operating under a state-mandated contributory framework.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/myCalSTRS
• Facebookfacebook.com/CalSTRS
• LinkedInlinkedin.com/company/calstrs
• Instagraminstagram.com/calstrs
• Xx.com/CalSTRS

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments13 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CalSTRS