1998-2001 News Releases

1998-2001 News Releases

Overview
News release

Chief Executive Officer Named for CalSTRS

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.

News release

Chief Executive Officer Resigns From CalSTRS

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.

News release

California Teachers’ Pension Names New Chief Investment Officer

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.

News release

California Teachers’ Pension Fund Names Director of Real Estate

Sacramento, CA – Mike DiRe has been selected as director of real estate for the California State Teachers’ Retirement System. DiRe, 38, has fifteen years experience in real estate and finance, most recently as a real estate portfolio manager at the California Public Employees’ Retirement System.

News release

California Teachers’ Pension Fund Hires Pendleton James Associates for CIO Search

Sacramento, CA – The California State Teachers’ Retirement System has selected Pendleton James Associates to conduct a nationwide search for its new chief investment officer.

Pendleton James Associates is one of the top investment management consulting firms in the U.S., and has more than 20 years experience in the investment management job market.

News release

Investment Chief Resigns from California Teachers’ Pension Fund

Sacramento, CA – Patrick Mitchell, chief investment officer of the California State Teachers’ Retirement System, has resigned. He leaves July 15, 2000, to pursue other career opportunities.

“This was not at all an easy decision to make, but the new economy is providing wonderful opportunities right now. The timing is excellent for me to begin the next phase of my life and career,” Mitchell said.

News release

California Teachers’ Pension Fund Hits Record $100 Billion

Sacramento, CA –The Teachers’ Retirement Board announced at its meeting today that, for the first time in its history, the Teachers’ Retirement Fund exceeds $100 billion in assets. To reach this financial milestone, the fund’s investment portfolio grew more than $13 billion since June 1998, continuing a five-year trend of annual returns of more than 14 percent.

News release

California Teachers’ Pension Fund Goes Over the Top – State Teachers’ Retirement System Fully Funded

Sacramento, CA –The California State Teachers’ Retirement System has hit the goal of every pension plan. The Teachers’ Retirement Board learned today CalSTRS has enough money to cover the benefits already earned by California’s current educators without outside funds from the state.

The actuarial valuation presented to the board shows that as of June 30, 1998, CalSTRS had 104 percent of the funds needed to pay the cost of the benefit plan in effect in 1998.

News release

California Teachers Get Their Due in Federal Budget
First Installment of School Lands Sale Authorized to Pension Fund

SACRAMENTO – - California educators saw their retirement fund grow $36 million stronger when President Bill Clinton signed the final omnibus appropriations legislation Wednesday. A provision added at the last minute appropriates the funds to pay the first installment of the $324 million compensation due under a 1996 settlement with the Administration.

 

The funds compensate California and its teachers for yielding claim to oil-rich lands granted to the state when it entered the Union in 1853.