Friday, September 16, 2022

Let's Hope This Is A One-year Blip

I plan to retire in 5 years and I need there to be plenty of money in the State Teachers Retirement System:

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.

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2 comments:

  1. Anonymous9:17 AM

    Ohio STRS is frighteningly ill-managed. Colas unpaid to retired teachers, but huge bonuses to staff, nepotism, outrageous perks for employees, and that's just the surface. Scary.

    ReplyDelete
  2. ObieJuan11:50 AM

    Well, in fairness to CalStrs, the S&P 500 (and my 403b) was down about 9% over the same period.

    ReplyDelete