2005 News Releases

2005 News Releases

Overview
News release

CalSTRS Selects Five Firms to Manage Emerging Markets Equities

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.

News release

CalSTRS Board Opposes New Pension Legislation

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.

News release

CalSTRS Reveals Study Results on Sustainable Investments

 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

News release

CalSTRS Underwrites Line of Credit for NYC Water

 Sacramento, CA  – California State Teachers’ Retirement System recently underwrote a line of credit for New York City Municipal Water Finance Authority’s variable rate bonds. CalSTRS partnered with State Street Bank & Trust to provide a line of credit totaling $200 million for the Authority. The transaction will allow the Authority to pay down its commercial paper and fund a portion of its capital projects.

News release

Teachers’ Pension Seeks Firms to Manage Enhanced Index Portfolio

 Sacramento, CA  – The California State Teachers’ Retirement System today launched a search for up to six fund managers for the enhanced index portion of its domestic equity portfolio. The final filing date for proposals is November 10 with selections expected in the spring of 2006. 

News release

CalSTRS “Walks the Walk” on Climate Change: Will Disclose its own Greenhouse Gas Emissions

 SACRAMENTO, CA  – The California State Teachers’ Retirement System (CalSTRS), the nation’s third largest public pension fund, has joined a key group of environmental leaders as a new member of the California Climate Action Registry (the Registry), a non-profit organization recognized as a standard setter for tracking and reporting greenhouse gas (GHG) emissions.As a participant in the Registry, CalSTRS will voluntarily measure

News release

CalSTRS Co-sponsors Diversity Survey With Leading Edge Investment Advisors and Anira Advisory Group

 SACRAMENTO, CA  – The California State Teachers’ Retirement System continued the effort it inaugurated last week to expand the diversity of ideas and people throughout its $132 billion investment portfolio. This comprehensive approach will look at the way investment decisions can integrate diversity to yield good investment returns and simultaneously reflect the new face of California.

News release

CalSTRS Begins New Diversity Effort in Investment Management

 Sacramento, CA  – The California State Teachers’ Retirement System announces the start of a unique effort to expand the diversity of ideas and people throughout its $129 billion investment portfolio. This comprehensive approach will look at the way investment decisions can integrate diversity to yield good investment returns and simultaneously reflect the new face of California.

News release

CalSTRS Posts Double-digit Gains for the 2004-05 Fiscal Year

 Sacramento, CA  – The California State Teachers’ Retirement System posted double-digit investment returns for its fiscal year. CalSTRS announced its third straight year of positive performance, with an all-time high total assets of $128.9 billion on June 30, 2005, and an 11.09 percent return on investments.

News release

Settlement with PricewaterhouseCoopers Reached in Class Action Suit

 Sacramento, CA  – The California State Teachers’ Retirement System has reached a preliminary settlement of $17.5 million with PricewaterhouseCoopers in a class action lawsuit accusing the accounting firm of violating its professional responsibilities in its audits of Homestore.com Inc. in 2000 and 2001.

News release

2005 Annual Statement Estimate Letter on myCalSTRS

If you are 45 years or older as of June 30, 2004 you can now view your 2005 Annual Statement Estimate Letter on myCalSTRS. This letter provides you with two retirement estimates based on information received from your employer as of June 30, 2004. These estimates give you an idea of what CalSTRS benefits to expect as you make your overall retirement plans. In addition to the estimates of your monthly retirement benefit, is information regarding your Defined Benefit Supplement account.

News release

CalSTRS Seeks Managers for a $3 Billion Emerging Market Equity Program

 Sacramento, CA  – The California State Teachers’ Retirement System will launch on April 20 a search for up to six active equity managers to invest about 10 percent of its international equity portfolio, approximately $3 billion, in emerging markets. This action follows the CalSTRS board’s conclusion of an extensive study of the opportunities and risks in investing in emerging markets.

News release

CalSTRS Moves Closer to Restoring Retiree Funding

 Sacramento, CA  – A bill that would repay over time a $500 million state contribution that has been withheld from the California State Teachers’ Retirement System was passed by the Assembly Committee on Public Employees, Retirement and Social Security this morning on a unanimous vote, bringing CalSTRS one step closer to recovering these funds without continued litigation.