One-year setback, after a record gain, alone won’t further increase school districts’ pension rates
For the first time since the Great Recession in 2008, the California State Teachers’ Retirement System had a negative return on investments for the year ending June 30.
CalSTRS, which provides retirement benefits for nearly a million current teachers and retirees, saw a minus 1.3% return on its portfolio. The year-end value of the portfolio dropped $8.6 billion to $301.6 billion as a result. The loss followed a record yearly investment gain in 2020-21 of 27.2%, CalSTRS reported.