Changes to STRS. Expect increase in deductions with your paychecks.

If you haven't received it yet from Human Resources, there will be a letter outlining the new deductions for STRS.  The STRS website notes:

WEST SACRAMENTO, Calif. – Governor Brown’s signing of Assembly Bill 1469 today, enacted as part of the 2014-15 budget, concludes a decade-long effort to bridge CalSTRS’ nearly $74 billion funding gap.
“For roughly the last 10 years our highest priority and our members’ most pressing concern has been to secure the long-term stability of the Defined Benefit Program,” said Teachers’ Retirement Board Chair Harry Keiley. “Educators in California do not receive Social Security for their CalSTRS-covered employment and the benefit they earn from years in the classroom serves as the cornerstone of their retirement income. Today’s actions further strengthen the Governor and Legislature’s commitment to uphold the state’s promise of a secure retirement to teachers.”
“Resounding applause is in order for enactment of this plan to fully fund the Defined Benefit Program in a manner consistent with sound actuarial and accounting practices,” said CalSTRS Chief Executive Officer Jack Ehnes. “This historic legislation alleviates the risk of a looming liability for the world’s largest educator-only pension fund and sets a course for its long-term viability. We believe this plan achieves the right balance of time, commitment and completeness.”
Increases in pension contributions for all parties take effect July 1, 2014, and will be phased in over the next several fiscal years. Contributions rates for all CalSTRS members will increase from 8 percent of payroll to 8.15 percent of payroll in the first fiscal year.