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Boe 447  Form

Boe 447 Form

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[Music] hello cal rta members it's jennifer baker your legislative advocate here to give you some great news regarding stopping a bill in its tracks sb 457 was a measure that was introduced by senator portentino which would have had a tremendous negative impact on calstrs as investments it would have split calstrs investment division from one investment division to potentially more than a thousand investment areas which would have had an administrative cost alone of hundreds of millions of dollars up to even a billion dollars definitely threatening the financial security of calstrs in the long run and also potentially having a long-term impact on the viability of other programs that are reliant on the calstrs investment division such as the supplemental benefit maintenance account which provides purchasing power to our oldest retirees i'd like to say thank you so much for the work that you did the phone calls the emails the letters they absolutely make a difference i&am

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