WEST SACRAMENTO, Calif. – CalSTRS voted its 11.6 million shares against long-tenured board members John D. Baker II, John S. Chen, Lloyd H. Dean, Enrique Hernandez, Jr., Donald M. James, Cynthia H. Milligan, Federico F. Peña, Stephen W. Sanger, and Susan G. Swenson. These board members failed in their duty to shareholders to identify the weaknesses in the company’s risk and oversight mechanisms.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced that Governor Brown has appointed Karen Yamamoto to the California State Teachers’ Retirement Board. The board oversees the retirement benefits for California’s prekindergarten–12 and community college educators covered under the California State Teachers’ Retirement System (CalSTRS).
Pursuant to Government Code section 11425.60, and the board policy on Designating Precedential Decisions, CalSTRS is authorized to designate all or part of an administratively adjudicated decision as a Precedential Decision when the following criteria are met:
The decision or part of the decision contains a significant legal or policy determination;
The decision or part of the decision reflects a rule of general application; and
The decision or part of the decision relates to a legal or policy issue that is likely to recur in the future.
Once a decision or part of a decision has been designated as a Precedential Decision, it is binding in future administrative adjudications unless CalSTRS rescinds the designation.
Precedential Decisions will be added to the Index of CalSTRS Precedential Decisions, which will be updated not less frequently than annually unless there have been no Precedential Decisions designated since the last update.
Upon recommendation from the Assistant General Counsel, the CalSTRS Teachers’ Retirement Board Appeals Committee may designate an administratively adjudicated decision or part of an administratively adjudicated decision, adopted by the Appeals Committee pursuant to the standards set forth in the Administrative Procedures Act, as a Precedential Decision when certain criteria are met.
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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.