Copyright© 2007 by School Services of California, Inc.
Volume 20
For Publication Date: June 22, 2007
No. 14
By the Way . . .
STRS Rate Increases Starting in 2009-10 on Hold.
The State
Teachers’ Retirement System (STRS) approved a strategy earlier this year to fund
a greater portion of its liability for the basic retirement program by phasing
in contribution rate increases for employees and employers starting in 2009-10.
However, there is no pending legislation at this point that incorporates the
rate increases. STRS indicates that any rate increase included in a future
year’s legislative session will still be deferred and phased in, so it is more
likely that the rates will stay the same through 2009-10.