Protect Charter School Teacher Retirement Funds!
The Internal Revenue Service recently issued a Proposed Regulation titled "Determination of Government Plan Status." This regulation would force states to prohibit charter school teachers from participating in state retirement plans. Presently, every single state that authorizes charter schools either requires or permits charter school participation in the state's retirement system. Therefore, this regulation would negatively impact nearly all charter school teachers in the country. This includes California, where charter school employees can participate in CalPERS and CalSTRS. According to CCSA's fall 2011 survey of our members, 87% of respondents indicated that their school participates in CalSTRS, and 58% responded that their school participates in CalPERS.
In total, the National Alliance for Public Charter Schools estimates more than 90,000 charter school teachers - more than 90% of our country's charter school workforce - will be affected by the Proposed regulations. All of these teachers will be forced to either leave their charter schools or lose their accrued pension wealth. For this reason, we cannot allow these regulations to be adopted in their current form.
Make your voice heard today in two simple steps:
- Take action via the National Alliance's Action Alert to alert your elected representatives in Washington, DC of this issue
- Submit a formal comment on the proposals using the government's comments portal for regulations - this is the only official way to register your opposition to the proposal. CCSA will also provide a template letter in the January 31, 2012 Capitol Update.