WEST SACRAMENTO, Calif. – Continued growth in the equity market, coupled with a bias to U.S. companies, fed a second year of healthy investment returns at the California State Teachers’ Retirement System (CalSTRS), which closed the 2013-14 fiscal year with an 18.66 percent return on its investments.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the election of Corporate Governance Investment Officer Aeisha Mastagni to the Board of Directors of the International Corporate Governance Network (ICGN).
CalSTRS unfunded actuarial obligation primarily resulted from lower than expected investment returns stemming from the 2008 global financial market collapse coupled with the 2001 dot com bust. In fiscal year 2009 alone, the fund experienced a 25 percent loss. Contribution rates remained unchanged despite these losses because, unlike most other pension systems, CalSTRS does not have the legal authority to increase them.
This study was prepared for CalSTRS by the Applied Research Center at the California State University, Sacramento. The study examines the economic impacts of CalSTRS on the economies of the state of California and its 58 counties.
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