CalSTRS annual Member Satisfaction Survey results
We conducted our annual Member Satisfaction Survey earlier this year to gain insight into your experiences with the delivery of CalSTRS benefits and services. As we’ve done in prior years, we asked a random sample of active and retired members about their overall satisfaction with CalSTRS. Survey results were presented to the Teachers’ Retirement Board in September and can be found under the September 24–26 meeting listing.
Both active and retired members indicated retirement planning, the cost of health care and the state of the economy as major drivers of confidence in their financial needs being met in retirement. Other findings from the survey include:
| Members who… | Early career | Midcareer | Near retirement |
|---|---|---|---|
| Are knowledgeable about their CalSTRS defined benefits. | 23% | 27% | 46% |
| Are confident they will have enough money to live comfortably throughout their retirement. | 29% | 34% | 46% |
| Report mortgage payments as the main financial obligation preventing them from saving sufficiently for retirement. | 57% | 44% | 38% |
| Are aware they need additional income to meet their financial goals in retirement. | 54% | 64% | 72% |
| Report being engaged with CalSTRS. | 24% | 34% | 58% |
| Are highly satisfied with CalSTRS overall. | 34% | 44% | 65% |
Percentage of all members who responded reported “CalSTRS is an organization I can trust.”
- Early career – 52%
- Midcareer – 58%
- Near retirement – 74%