WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s Corporate Governance staff wrapped up this year’s proxy season where the dominant governance issue was proxy access. Proxy access made up more than 28 percent of the governance proposals compared to 6 percent in 2013–14.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced its involvement with the Energy Productivity Index for Companies, a new project that will establish the first global energy productivity benchmark for listed industrial companies. The project was officially launched today in New York.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) is part of a group of nine public pension funds that has filed a shareholder resolution asking the board of directors of energy-drilling company Nabors Industries to grant substantial, long-term shareholders the right to nominate directors using the company’s proxy statement.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System today announced that it has received top honors among large public pensions as an investment industry innovator from aiCIO magazine.
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) today hailed House approval of the Wall Street Reform and Consumer Protection Act of 2009 as an important step to help avoid a repeat of the nation’s financial crisis.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System today endorsed a new code of responsibility for institutional investors, becoming the first US-based fund to back the policy, which it called a “standard for good corporate governance.”
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) today praised congressional action led by Representative Maxine Waters (D-CA) aimed at holding corporate boards more accountable. Rep. Waters’ amendment will empower the Securities and Exchange Commission to make it easier for shareholders to nominate corporate directors.
SACRAMENTO, CA – Ceres, a national network of investors and environmental organizations today named California State Teachers’ Retirement System (CalSTRS) Chief Executive Officer, Jack Ehnes, to its board of directors
Teacher pension dollars, and the economic activity they generate, have a larger economic benefit to California than the furniture or oil and gas extraction industries, according to the study, The Annual Economic Impacts of CalSTRS Benefit Payments. The study was commissioned by CalSTRS and conducted by the Applied Research Center at California State University, Sacramento in 2007. Data is available for ten rural counties. (12 individual news releases)
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today the appointment of Anne Sheehan to the newly created position of Director of Corporate Governance. She will join the staff in October to guide its corporate governance program to a higher level of activism.
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today launched a search for independent fiduciaries to screen partnerships, make recommendations and help investment staff negotiate with prospective partners for the CalSTRS Private Equity Proactive Portfolio.
SACRAMENTO, CA – Current California public school educators elected three members to the governing body of the California State Teachers’ Retirement System. In election results announced today, the two Teachers’ Retirement Board members elected by the kindergarten through twelfth grade educators are:
SACRAMENTO, CA – The California State Teachers’ Retirement System today announced The Townsend Group as its consultant to advise CalSTRS’ Investment Committee on overall real estate investment strategy, policies and practices.
The Townsend Group works for the Investment Committee and with CalSTRS investment staff to monitor and comment on the real estate portfolio performance and policy.
Sacramento, CA – The California State Teachers’ Retirement System has joined the Enhanced Analytics Initiative as an Associate Member, becoming the first major U.S. public fund to do so. EAI is an international collaboration of asset owners and asset managers aimed at encouraging investment research that considers the impact of extra-financial issues on long-term company performance.
Sacramento, CA – During a ceremony at the Sixth Wall Street Summit in New York City, the New America Alliance awarded Christopher J. Ailman, CalSTRS’ chief investment officer, the NAA Distinguished Service Award for Advancing Latinos in American Business. Mr. Ailman was recognized for his innovative approach in uncovering untapped talent in the investment arena and encouraging other institutional investors to seek out and hire emerging managers.
Sacramento, CA – At its meeting today, the Teachers’ Retirement Board approved sweeping changes to its Board Governance policy.The new rules restrict political contributions and gifts, require disclosure of placement agent fees and require disclosure of certain types of communications involving board members and/or CalSTRS staff.Upon taking office, board members must now sign a pledge confirming their independence and underst
Sacramento, CA – California State Teachers’ Retirement System has selected Baillie Gifford Overseas Ltd., Lazard Asset Management LLC, Mondrian Investment Partners Ltd., Templeton Asset Management Ltd., and T. Rowe Price International Inc. to manage its new active Emerging Markets program. The managers will invest about 10 percent of CalSTRS’ international equity portfolio, approximately $3 billion, in emerging markets.
Sacramento, CA – The Teachers’ Retirement Board voted to oppose Assembly Constitutional Amendment 23 at its meeting today. The bill by Assembly Member Keith Richman (R-Northridge) would effectively close the current CalSTRS defined benefit plan to public school educators hired after July 1, 2007. Those newly hired employees could only choose between one of two retirement plans, a 401(k)-style plan or a 401(k) style plan combined with a defined benefit plan.
Sacramento, CA – California State Teachers’ Retirement System has today released the results of its study on market opportunities for sustainable investments in public securities conducted by Pension Consulting Alliance, Inc.The study, commissioned by CalSTRS, outlines the growing opportunities for institutional investors to achieve a “double bottom line” in sustainable investments.A double bottom line return means that a rea
Sacramento – In the last days of the 2003-04 bill signing season, Governor Arnold Schwarzenegger took action on nine bills affecting the California State Teachers’ Retirement System and its members. All bills affecting benefits were signed into law by the governor, including:
It is the middle of the bill signing season and Governor Arnold Schwarzenegger has until September 30 to take action on legislation approved by the Legislature during the 2003-04 Regular Session. While there are a number of bills affecting the California State Teachers’ Retirement System that remain on the Governor’s desk, below are the bills that he has acted upon thus far.
SACRAMENTO – The California State Teachers’ Retirement System has announced the selection of Christine Ford as the Deputy Chief Executive Officer for Administrative Services. Ford, a certified public accountant and former auditor who is currently a deputy director at the California Department of Aging, will begin her new position at the nation’s third-largest public pension fund on January 19, 2004.
The Securities and Exchange Commission needs to hear from California’s educators – the individual shareholders of the CalSTRS investment portfolio – in regard to rule S7-19-03, which gives shareholders the right to nominate their own candidates to replace unresponsive and irresponsible board members during elections. Simple logic dictates that, faced with the possibility of removal, directors will be forced to pay greater attention to the issues that matter to shareholders.
Sacramento, CA – Qwest Communications and several of the nation’s top banking and financial service companies were named as defendants Tuesday in a lawsuit filed by the California State Teachers’ Retirement System in the financial collapse of Qwest.
The complaint alleges Qwest and the companies engaged in fraudulent schemes that cost the California teachers fund millions of dollars when the truth about Qwest’s faltering financial condition was first disclosed.
Sacramento, CA – The California State Teachers’ Retirement System seeks program advisers for U.S. partnerships in its alternative investment portfolio. A request for proposal was issued September 17 and the proposals are due October 21. A copy of the RFP is posted on the CalSTRS Web site at www.calstrs.ca.gov.
Sacramento, CA – Jack Ehnes has been selected as the new Chief Executive Officer of the California State Teachers’ Retirement System. The Teachers’ Retirement Board announced its choice for the top administrative post today. Ehnes, 50, replaces James D. Mosman, who is leaving CalSTRS to become Executive Director of the National Council on Teacher Retirement.
Sacramento, CA – James D. Mosman, Chief Executive Officer of the California State Teachers’ Retirement System, announced his resignation today. Mosman, 52, leaves in December to become Executive Director of the National Council on Teacher Retirement.
Sacramento, CA — Christopher J. Ailman, chief investment officer at the Washington State Investment Board, has been named chief investment officer of the California State Teachers’ Retirement System. Ailman will manage the $115.8 billion portfolio starting October 10.
A 20-year veteran in investment management, Ailman has been WSIB’s investment chief for four years. Before going to Washington, Ailman spent eleven years at the Sacramento County Employees’ Retirement System where he served as CIO of the pension fund for the county.
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The California State Teachers’ Retirement System website has been developed in compliance with California Government Code §11135, which requires that all electronic and information technology developed or purchased by the State of California is accessible to people with disabilities. There are various types of physical disabilities that impact user interaction on the web. Vision loss, hearing loss, limited manual dexterity, and cognitive disabilities are examples, with each having different means by which to access electronic information effectively.