[{"_1":2,"_112":-5,"_113":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88,100],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6468942,"mediaKeyId","5781444-2614a4587a7f80fa079745728be1284d","parentId",5781444,"title","CalSTRS board approves governance manual and charter revisions in consent vote","audioSeconds",100,"startMs",5126000,"endMs",5226000,"viewUrl","/Search/View?dp=1&key=5781444-2614a4587a7f80fa079745728be1284d&start=5126&end=5226","thumbnailUrl","https://assets.pipeline.soar.com/5781444-2614a4587a7f80fa079745728be1284d/thumbnail_5126000.jpg","articleUrl","/articles/6468942/California/CalSTRS-board-approves-governance-manual-and-charter-revisions-in-consent-vote","mediaUrl","https://secure.pipeline.soar.com/6468942-b722962dfb29fd135898c62213bb2fd6/orig.mp4?Expires=1770848133&Signature=DUQm0vHiBqvo4mwdFU5uHZC5cizAi8kqoWEqehcuHPtMXomMonMS~OFfWCy677FK~8WAL1kTLWzaj94XqX~wItBxepOVpx-b9NgyHjOqqgIdphvZnpOu0IhaGbr009eYEa9rFc6N-yUIP13zwx0HpikHvlcb-ucv0DYEg0OIqngBoW5~Nw69R9Emiwo4~7sWSBMY2CpykXvJ0O~p0Xx28N-MLmj2V5P4lSfy79qLo4sTlGKkbH3GceVycIsgTMvoc6Ga2yoazVXVDZM1cD1it-WwXuP~UL785zEbcFFwi9tlZWZQo4v81TW2Np6RzYUhfjMP-U71lbe93blkGKyxsQ__&Key-Pair-Id=KUT5TJCACFTXG","author","California State Teachers Retirement System","date","2025-09-13T00:23:24.857Z","article","The CalSTRS board on Sept. 4 approved a consent agenda that included revisions to board governance policies and committee charters.

The board secretary read into the record motions from the audits and risk management committee and the board governance committee proposing revisions to: the audits and risk management policies (section 8 of the board governance manual); the board governance committee charter; duties of the board chair and vice chair policy; the policy review policy; and section 3 charters of the board governance manual. A trustee moved the consent agenda, another seconded, and the board approved the package in a roll‑call vote.

Roll call and outcome: The board recorder called trustees in order. The recorded vote was unanimous among trustees present: Miss Perrault — Aye; Mister Oppenheim — Aye; Mister Keighley — Aye; Mister Tang — Aye; Mister Gunning — Aye; Mister Ruffino — Aye; Mister Patterson — Aye; Mister Juarez — Aye; Chair Denise Tripperson Bradford — Yes. The motion passed.

Why it matters: The approved revisions adjust committee charters and governance policies that shape board oversight, committee responsibilities and the duties of the chair and vice chair.

Ending: Staff will incorporate the adopted revisions into the governance manual and post the updated charters per board procedure.","mediaType","Video","parentTitle","Regular Meeting - CalSTRS Board Meeting September 2 and 4, 2025","oneSentenceSummary","The board approved revisions to multiple sections of the board governance manual and committee charters in a roll‑call consent vote; trustees voted unanimously in favor.","taxTitle","California State Teachers Retirement System, Agencies under Office of the Governor, Executive, California","taxId",70080,"location","California","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6468946,"CalSTRS holds two regulatory hearings on compensation reporting and administrative remedies; no public comments received",351,3211000,3562000,"/Search/View?dp=1&key=5781444-2614a4587a7f80fa079745728be1284d&start=3211&end=3562","https://assets.pipeline.soar.com/5781444-2614a4587a7f80fa079745728be1284d/thumbnail_3211000.jpg","/articles/6468946/California/CalSTRS-holds-two-regulatory-hearings-on-compensation-reporting-and-administrative-remedies-no-public-comments-received","https://secure.pipeline.soar.com/6468946-11ea1e7d7617f8e19f45d10785ae1679/orig.mp4?Expires=1770848133&Signature=VRB2VGvVedFELPSW~ci~lSvKh4VyHrZgp2rq8uDHEnBotMYWU3wZ1D~2~zXjTOSHCiOzPI2yPm-2m1wEaJXWnajGwvHw1s5tFnrKStpGKDYExaANVZUTQgRI01IOJwMWd220DpiYKZzRhQDTCzhCFwawWk98eRSgc3QerAupsuHvl03uB2VzkgSDhO7QTYZrVPKwpW-XuZWaI7PyeSTWl395gt6u8mhFIL15tkssKGw6vGfVARtLU1hw5Qnew2Fia-zW3bAXOdYO1LP0ktMYsBE1nXntzdsO33FG~n5OCiloK3kVdzCOfMzd90uFV7iBvbj7PUP9ko9Z84FvRssbCg__&Key-Pair-Id=KUT5TJCACFTXG","The California State Teachers’ Retirement System held two rulemaking hearings Sept. 4 and received no public comments on either package, CalSTRS staff said.

Joycelyn Martinez Wade, director of governmental relations, read the notices into the record and explained the substance of each proposal. The first hearing covered amendments to implement AB 1997, which staff said would simplify requirements for creditable compensation and update employer electronic file formats and contribution file layout in Division III of Title 5 of the California Code of Regulations. The item description included a list of Education Code sections the regulations interpret and said AB 1997 is effective July 1, 2027.

The second hearing addressed updates to regulations governing CalSTRS’ administrative remedy process, which staff said would clarify actions for disputing staff decisions and audit findings and would align regulations with Chapter 754, Statutes of 2022 (AB 1667).

In both hearings staff said they would wait briefly for any late arrivals; none were recorded. For the AB 1997 rulemaking staff said they expect to make only a non‑substantive change to specify the date of the contribution file layout and will issue an additional 15‑day written comment period to allow review of that change. For the administrative remedy amendments staff also recorded no comments and closed that hearing.

Why it matters: The rules govern how employers report compensation and service to CalSTRS and how members and agencies contest determinations. Changes to those regulations affect employer reporting requirements and procedural rights for parties affected by CalSTRS’ audit and decision processes.

Ending: Staff closed both hearings with no oral or written testimony and said they will follow up with any additional formal notice periods required by the Administrative Procedure Act.
","The board held two public hearings on proposed regulations — implementing AB 1997 (credible compensation and employer file formats) and updating the administrative remedy process (AB 1667) — and recorded no oral or written comments at the hearings.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6468951,"CalSTRS sets Benefit Connect go‑live for Sept. 23 after final readiness checks; independent overseer deems system ready",390,3965000,4355000,"/Search/View?dp=1&key=5781444-2614a4587a7f80fa079745728be1284d&start=3965&end=4355","https://assets.pipeline.soar.com/5781444-2614a4587a7f80fa079745728be1284d/thumbnail_3965000.jpg","/articles/6468951/California/CalSTRS-sets-Benefit-Connect-golive-for-Sept-23-after-final-readiness-checks-independent-overseer-deems-system-ready","https://secure.pipeline.soar.com/6468951-7920d65a43247b0a508d7178d469b1f4/orig.mp4?Expires=1770848133&Signature=ef6ghlx47SYXBTe38UicUMEKFnY27-4gstfu2HLpE8OMtZlWBBVo-7~aloQOpA4-PAXBQT-OJErz977cpEA5yYsH2n-Yn8Dfus7Id~GW9a8FIopWz0O7nkr1zGTLOwkh6WT~7ZrwxOAEUeKoTZLXuIZsVId7qeBrWQ6-HlF0nzkm8P7v6buhrbhtrpjlInSIB6ykTfg7zfSUaH-IgqED2wbbikWHV0~TtZ8pMHDH7qhofbXZcc4fR10OJtzhSC33CuAByGfe~yH2UkNtiyvtsZzOX8x3UH63r3Bj1DPSb5FwCbOLwmKZCn9dqXTTMbbAH-tFzH4KpRnHTu71hgc5dg__&Key-Pair-Id=KUT5TJCACFTXG","CalSTRS told trustees on Sept. 4 that its new pension administration platform, Benefit Connect, is scheduled to go live on Sept. 23 after a final round of cutover and readiness checks.

Anthony Sweeney, the pension solution project director, briefed the board on final work streams, member communications and cutover planning. Sweeney said six major work streams were in green status and staff were focused on post‑go‑live activities such as resolving residual data discrepancies, stabilizing employer contribution files and executing planned future releases. “Everything's now in a green status,” Sweeney said.

Sweeney described an eight‑week soft launch in a pseudo‑production environment that more than 650 staff used to process routine business, load employer contribution files, run monthly payroll jobs and generate correspondence. The team produced more than 24,000 pieces of member correspondence during testing, Sweeney said, and used the soft launch to identify and fix issues before cutover.

Chris Cabote of GuideHouse, the board’s independent oversight consultant, told trustees his team concludes the primary functionality is ready for production. Cabote emphasized that some known defects remain in a backlog and must be triaged: “There are still some defects that are, known, in the backlog that need to be resolved, and ... there will be defects that are found in production,” he said. GuideHouse said the project’s triage process involved business teams and decision‑makers and that the executive steering committee will make the formal cutover decision.

Board members asked about risk. Trustee Perrault asked whether any deferred defects were categorized as medium or high risk; project staff replied that deferred items were not high risk and that the team had documented workarounds incorporated into training and procedures. Trustees also asked about the longer‑term maintenance and operations (M&O) budget. Sweeney said CalSTRS has an authorized $104.7 million M&O allocation to support the 21‑month post‑go‑live stabilization and that future years’ steady‑state costs are expected to be lower once the program team and vendor mix are finalized.

Why it matters: Benefit Connect replaces legacy systems used to administer member accounts and process benefit transactions. Cutover periods commonly result in limited online access and slowed transaction processing; staff told trustees they are prepared with escalation paths, co‑located experts and increased contact‑center coverage to reduce member impacts.

Support and next steps: Staff said some services have already been placed into inquiry mode to clear in‑flight work and that data conversion activities will begin as systems enter cutover. Benefit Connect will be integrated with CalSTRS’ financial system following go‑live. GuideHouse and CalSTRS said post‑go‑live governance and a prioritized backlog will guide subsequent releases and defect resolution.

Ending: Project leadership thanked staff and consultants for the multi‑year effort and said the team will report back to the board on post‑go‑live status and stabilization work.","CalSTRS project team said Benefit Connect will go live Sept. 23 after a successful 8‑week soft launch and readiness checkpoints; independent oversight recommended proceeding with cutover while documenting defect triage and post‑go‑live support.",{"_33":101,"_35":36,"_37":38,"_39":102,"_41":103,"_43":104,"_45":105,"_47":106,"_49":107,"_51":108,"_53":109,"_55":56,"_57":58,"_59":110,"_61":62,"_63":64,"_65":111,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6468956,"CalSTRS board reviews $447.2 million proposed operating budget; trustees plan second reading in November",1675,523000,2198000,"/Search/View?dp=1&key=5781444-2614a4587a7f80fa079745728be1284d&start=523&end=2198","https://assets.pipeline.soar.com/5781444-2614a4587a7f80fa079745728be1284d/thumbnail_523000.jpg","/articles/6468956/California/CalSTRS-board-reviews-4472-million-proposed-operating-budget-trustees-plan-second-reading-in-November","https://secure.pipeline.soar.com/6468956-962fa152c35c578aaa189ce1b9334727/orig.mp4?Expires=1770848133&Signature=SrMXV9XId84c9FoZbr3sf576OOwCGK4yTewnKcW8DjqUCnYCkHP0E9r-lpWQfOwlnV3Gbk3tGXOmr95pDABMlQqT322UtVme2y73r~Abqd1mkAM9DsAFi~UG2QdJrcuzcdK0fw~gZTarjp6skvworT~Kp0afok1K8zNDkk171FqIW~Y-HtNSTutb6LadgTUrPUcQ9t6PRpOTmLleNIdtN5WGeiuiwaOkgWXzNkZSSi7hnPmmcyJ0xJQnI8a2ZzP9EwCzVjFABL~XlzfiqhvD2v~4yeW~jS1yMXBRh-oW1P5dcIwMs-96TD2z4vbapkMezLraN4se6mTjaSygIPOOIA__&Key-Pair-Id=KUT5TJCACFTXG","The California State Teachers’ Retirement System (CalSTRS) board on Sept. 4 received a first reading of the proposed 2026–27 operating budget, which staff said would total $447.2 million and include 60 new authorized positions.

CalSTRS Chief Financial Officer Julie Underwood and Pritpaul Banes, assistant director of financial planning and budgetary reporting, presented the proposal during the board’s open session. Banes said the total reflects an increase of about $28.2 million, or 6.7% over the prior year, and is composed of $21.7 million for new operating proposals tied to the strategic plan and roughly $6.5 million for routine annual adjustments.

The budget is the board’s first reading and staff recommended trustees approve it after questions; several trustees instead asked for more time and agreed to return the item for a second reading and potential approval in November. “I would ask our colleagues to bring this back, for for approval in November,” Trustee Keeley said.

Why it matters: CalSTRS’ operating budget funds staff, technology, and investment-branch operations that support pension administration and investment management for roughly a million active, inactive and retired members. The board said the request aligns with the system’s multi-year strategic plan and an ongoing emphasis on technology modernization and investment-portfolio capacity.

Key numbers and proposals: Pritpaul Banes told the board the proposed operating budget is “currently projected at 447,200,000.0.” The request includes 1,491 authorized positions (an increase of 60, or about 4.2%). Staff identified two major new proposals: $15.6 million for enterprise-wide strategic support (including $5.6 million for 33 positions and $10.0 million for service contracts) and $6.1 million for 27 positions in the investment branch to support portfolio management, compliance, technology transformation and sustainability work. An additional $6.5 million covers routine annual adjustments, including $4.5 million for employee compensation adjustments and about $2.0 million for the Department of Finance pro rata assessment for shared state administrative costs.

Board questions and staff responses: Trustees pressed staff on oversight and timing. Department of Finance staff encouraged early submission of Budget Change Proposals (BCPs) to allow state reviewers time to assess and ask clarifying questions. Trustee Ruffino asked how the board would measure whether the added resources deliver strategic outcomes; Underwood and Banes pointed trustees to the annual accomplishments report, quarterly key performance indicators and customer-service metrics as accountability tools.

Positions not approved this cycle: Banes said CalSTRS received requests for 116 positions in the 2026–27 cycle and advanced 60 through the review process; the remaining requests will be reevaluated in future cycles.

Technology and outsourcing: The enterprise strategic-support proposal includes $10 million for service contracts to support innovation, cloud modernization, AI integration and ongoing maintenance. Trustees raised concerns about dependency on external vendors and the need to build in-house capacity. Staff said contracts will include training and knowledge-transfer provisions and that CalSTRS is building internal teams alongside consultant support.

Next steps: The board did not take final action on the budget. Trustees and staff agreed to bring an amended budget back at the November board meeting to allow time for additional review and potential edits to BCPs and attachments, and to satisfy the state budget calendar.

Ending: Staff said more detail is available in attachment 2 of agenda item 11 and that they will accept trustee feedback ahead of the November vote.","CalSTRS staff presented a proposed $447.2 million operating budget for fiscal year 2026–27 that would add 60 positions and increase technology and investment spending; trustees agreed to return the document for final action at the November meeting.","actionData","errors"]

Article not found

CalSTRS board approves governance manual and charter revisions in consent vote

CalSTRS holds two regulatory hearings on compensation reporting and administrative remedies; no public comments received

CalSTRS sets Benefit Connect go‑live for Sept. 23 after final readiness checks; independent overseer deems system ready

CalSTRS board reviews $447.2 million proposed operating budget; trustees plan second reading in November