CalSTRS has conducted an assessment of AB 340, the California
Public Employees’ Pension Reform Act of 2013, and its impact on
CalSTRS members and operations and outlined key changes.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (“CalSTRS”) and Relational Investors LLC (“Relational”)
commend today’s election of its nominee, Margaret “Peggy” Foran,
to the Occidental Petroleum Corporation (“the Company”) Board of
Directors.
The election, along with the previously announced series of
reforms regarding CEO succession planning, executive
compensation, and board composition, successfully satisfies the
terms of the October agreement between CalSTRS/Relational and the
Company.
WEST SACRAMENTO, CA – The board of the California State Teachers’
Retirement System (CalSTRS), at its Dec. 2 meeting, lowered
several long-term actuarial assumptions including the rate of
return on investments from 8 percent to 7.75 percent and its
assumed inflation assumptions by 0.25 percent. The move
acknowledges an expectation of reduced future earnings and lower
inflation.
The board’s decision culminated ten months of comprehensive
analysis of the long-term economic assumptions affecting the
CalSTRS defined benefit, following recent market declines.
WEST SACRAMENTO, CA – The Board of the California State Teachers’
Retirement System took another step today toward greater
transparency of its proceedings by approving the live video
streaming and archiving of its meetings on the Web.
The decision means live video streaming, as well as archived
versions, will be available on the website, www.CalSTRS.com.
CalSTRS currently offers live audio streaming. Also, the current
practice of providing DVDs of meetings to anyone who requests
them will continue.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (“CalSTRS”) and Relational Investors LLC (“Relational”)
endorse the decisive initiatives announced today by Occidental
Petroleum Corporation (“the Company”) relating to CEO succession
planning, executive compensation reform, and board composition.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (CalSTRS) today issued the following statement.
CalSTRS wholeheartedly rejects the assertions made by the U.S.
Chamber of Commerce and the Business Roundtable in their Sept. 29
lawsuit against the Securities and Exchange Commission’s Aug. 25
proxy access ruling. CalSTRS will explore all possible options,
including legal strategies to oppose this action to roll back
shareholder rights.
WEST SACRAMENTO, CA – Board members of the California State
Teachers’ Retirement System (CalSTRS) today adopted the June 30,
2009 actuarial valuation of the Defined Benefit Program.
The valuation serves as a determination of the fund assets and
liabilities. It shows an unfunded obligation of $40.5 billion, an
increase of $18 billion from the June 30, 2008 valuation, and a
funded ratio of 78 percent, a decrease of 9 percent from last
year.
WEST SACRAMENTO, CA – The
California State Teachers’ Retirement System (CalSTRS) withdrew
21 of 28 shareholder proposals filed during the 2010 proxy season
after successfully engaging companies to make corporate
governance changes.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement
System (CalSTRS) today applauded the Securities and Exchange
Commission’s (SEC) ruling to provide greater shareholder access
to the corporate proxy ballot.
In a 3 to 2 decision, the SEC commissioners today broke years of
deadlock by allowing shareholders with at least a 3 percent stake
in a company’s stock, held for three years, to nominate directors
on a company’s proxy ballot. The issue has been a longstanding
priority for CalSTRS.
Starting August 20, 2010, CalSTRS headquarters in West Sacramento
will remain open on every Friday of the month, not
including state holidays. Governor Schwarzenegger’s recent
employee furlough order is not expected to affect business at
CalSTRS headquarters or any of the regional benefits counseling
offices.
In addition to CalSTRS remaining open, the toll-free information
phone numbers will continue to operate as usual:
WEST SACRAMENTO, CA–The California State Teachers’ Retirement
System today announced John Petzold as its first Director of
Investment Management/Deputy Chief Investment Officer. The
position comprises both the broad administrative duties of a
deputy chief investment officer and the more focused
responsibilities of a director of an asset class.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement
System (CalSTRS) today issued this statement:
CalSTRS joins with its partner state pension funds and plan
sponsors, representing 7 million active and retired employees,
with combined assets of more than $1 trillion in applauding
meaningful financial regulatory reforms signed into law today by
President Obama.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement
System (CalSTRS) investment portfolio posted a solid 12.2 percent
return at the end of the 2009-10 fiscal year.
The CalSTRS investment portfolio’s market value at fiscal year’s
end was $129.77 billion. The 12.2 percent return rate beat the
actuarial rate of 8 percent and brought in more than $10 billion
as the 2009-10 fiscal year ended on June 30.
The hour-long event included a presentation by CalSTRS CEO Jack
Ehnes and Deputy Chief Executive Officer Peggy Plett that focused
on sorting fact from fiction surrounding the status of CalSTRS
retirement benefits.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement
System (CalSTRS) today praised action by Senate and House
negotiators to reach agreement on financial regulatory reform
legislation. The full House and Senate are expected to act on the
measure next week.
WEST SACRAMENTO, CA– The
California State Teachers’ Retirement System (CalSTRS) is in
support of two reform measures that limit controversial pension
practices through increased transparency and accountability.
WEST SACRAMENTO, CA– The California State Teachers Retirement
System (CalSTRS) has teamed with two other institutional
investors in a shareholder lawsuit against officers and directors
of Massey Energy (NYSE: MEE), pointing to an abysmal safety
record leading up to the tragedy in a West Virginia coal mine in
April.
WEST SACRAMENTO, CA– A resolution proposed by the California
State Teachers’ Retirement System (CalSTRS) calls on Chesapeake
Energy Corporation (NYSE: CHK) to issue a sustainability report
on environmental, social and governance (ESG) issues, focusing on
greenhouse gas emissions and its plans to manage emissions. It is
the first shareholder resolution on sustainability reporting
submitted for consideration at Chesapeake.
WEST SACRAMENTO, CA– The
California State Teachers’ Retirement System (CalSTRS) praised
Senate passage of federal financial reform legislation as an
important step toward greater transparency, accountability and
management of risk at the corporate level.
WEST SACRAMENTO, CA– The
California State Teachers’ Retirement System (CalSTRS) announced
today it will vote against the advisory vote approving executive
compensation and the election of all incumbent board members at
Occidental Petroleum’s (NYSE: OXY) 2010 Annual Meeting in Los
Angeles on May 7.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement
System (CalSTRS) today announced Brian J. Bartow as its new
General Counsel. His role as lead attorney for the nation’s
second largest public pension fund is effective June 1, 2010.
Your retirement benefit is based on a formula (Service Credit x
Age Factor x Final Compensation = Member-Only Benefit). How
confident are you in your understanding of how this formula
determines your Member-Only Benefit amount?
