WEST SACRAMENTO, Calif. – A new report from Ceres ranks the nation’s 330 largest insurance companies on their response to climate-related risks and finds a profound lack of preparedness. CalSTRS currently holds $4.3 billion of investments in the insurance sector, which represents 2.4 percent of the overall portfolio. CalSTRS believes that climate-related risks and opportunities can affect the performance of its investments.
WEST SACRAMENTO, Calif. – Institutional investors representing more than $3 trillion in assets under management, along with some of the nation’s leading women’s organizations, sent letters to 100 companies in the Russell 1000 Index that lack women on their boards of directors, urging them to embrace gender diversity.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced it has received top honors for the portfolio’s 2013-14 performance from iiSEARCHES—Institutional Investor’s investment management, sales and marketing data service.
The CalSTRS 2014 funding plan enacted in Assembly Bill 1469 sets the Defined Benefit Program on a sustainable course to eliminate the unfunded liability within three decades.
This historic legislation calls for gradual, shared contribution increases from members, employers and the State of California over the next several years beginning July 1, 2014. The plan meets solid actuarial and accounting practices and offers a complete approach to fully funding the Defined Benefit Program.
Decade-long efforts to bridge the Defined Benefit Program’s current $73.7 billion funding gap conclude with a plan that fully funds the program within 32 years. Assembly Bill 1469, signed into law by Governor Edmund G. Brown Jr., as part of the 2014-15 budget, increases member, employer and state contributions over the next several years and sets the program on a sustainable course.
The funding solution is the result of years of focused discussions, stakeholder outreach, legislative visits and hearings. Since 2006, guided by the Teachers’ Retirement Board, CalSTRS committed to promoting the development of a comprehensive strategy to address the long-term funding needs of the system.
Ask Jack is an online communication channel offered by CalSTRS CEO, Jack Ehnes. This Web forum solicits questions about the funding and administration of the CalSTRS Defined Benefit Program. Not all will be posted directly, but Jack’s responses will be inclusive of views and perspectives.
An economic impact study finds that CalSTRS benefit payments are a substantial economic driver in California, generating $11 billion in economic activity, supporting more than 92,000 jobs and creating about $1.2 billion in tax payments to state and local governments through income, sales and corporate profit taxes.
Electronic privacy is crucial for the ongoing success of the Internet as a convenient means to provide customer service. Your personal information will be used only to conduct CalSTRS-related business.