2007 News Releases

2007 News Releases

Overview
News release

CalSTRS Trustees Elected by Public School Educators

 SACRAMENTO, CA  – Current California public school educators elected three members to the governing body of the California State Teachers’ Retirement System. In election results announced today, the two Teachers’ Retirement Board members elected by the kindergarten through twelfth grade educators are:

News release

CalSTRS Announces Real Estate Consultant
The Townsend Group is selected to advise the pension fund on real estate investments.

SACRAMENTO, CA – The California State Teachers’ Retirement System today announced The Townsend Group as its consultant to advise CalSTRS’ Investment Committee on overall real estate investment strategy, policies and practices.

The Townsend Group works for the Investment Committee and with CalSTRS investment staff to monitor and comment on the real estate portfolio performance and policy.

News release

CalSTRS Seeks Full SEC Decision on Proxy Access
Chairman’s ruling will not serve the interests of shareholders, CalSTRS Chief Executive says.

 SACRAMENTO, CA  – CalSTRS Chief Executive Jack Ehnes today joined the nation’s top institutional investors calling for the chairman of the Securities and Exchange Commission to delay decisions on proposed rules that could weaken shareholders’ ability to nominate directors for election to corporate boards.The proposed SEC rules, S7-16-07 and S7-17-07, impact the ability of shareholders to nominate directors to corporate boardsu

News release

State to Pay CalSTRS Interest on Withheld $500M Payment
California Supreme Court upholds CalSTRS’ call for state to pay $200 million in interest.

SACRAMENTO, CA – The California Supreme Court has declined to review a lower court decision awarding California State Teachers’ Retirement System’s (CalSTRS) $200 million in interest payments on $500 million withheld by the state in 2003-2004. The funds support CalSTRS’ inflation-protection program, the Supplemental Benefit Maintenance Account (SBMA).

News release

CalSTRS Seeks Alternative Investment Program Advisors
The request for proposals aims to select advisors for three global regions.

 SACRAMENTO, CA  – The California State Teachers’ Retirement System (CalSTRS), today issued a request for proposals seeking alternative investment portfolio advisors to recommend partnerships, perform due diligence and assist and advise CalSTRS staff.

The final filing date for proposals is Nov. 29, 2007, with selections expected by early 2008. 

News release

CalSTRS Seeks Real Estate Consultant
Names Four New Equities Managers for Sustainable Investments

 SACRAMENTO, CA  – The California State Teachers’ Retirement System (CalSTRS) today announced a search for a real estate consultant to provide expertise and advice to the CalSTRS Investment Committee related to the overall investment strategy, policies and practices of the CalSTRS Real Estate Program.

The final filing date for proposals is October 17, 2007, with the selection expected in January 2008. 

News release

Teachers’ Pension Gives Students Free Home Computers
Surplus Computers Get Second Life to Help Learning

SACRAMENTO, CA – West Sacramento public school students will soon have computers at home to help their learning thanks to the California State Teachers’ Retirement System (CalSTRS). On September 24 officials from the Washington Unified School District and CalSTRS board chair Dana Dillon will present the first 25 computers to Elkhorn Village Elementary School sixth graders and their families.

News release

CalSTRS Expands Its Environmental Investment Initiative
Names Four New Equities Managers for Sustainable Investments

 SACRAMENTO, CA  – The California State Teachers’ Retirement System (CalSTRS) today announced the four management firms selected for its $225 million Sustainable Investment Program. These managers will consider environmental factors in their stock selection and join an ongoing initiative for “green investments” that includes a $285 million program for clean technology alternative investment opportunities.

News release

CalSTRS Receives $500M Payment from State
Funds Transferred Following Appeals Court Decision

SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) has received $500 million from the State of California for a skipped payment to its inflation-protection program, the Supplemental Benefit Maintenance Account (SBMA). The state transferred the funds following an August 30 appeals court decision, which held the state violated its obligation to California’s retired educators when it withheld the payment for the 2003-2004 fiscal year.

News release

CalSTRS Board Approves Restrictions to Campaign Contributions
State Regulations to Guard Against 'Pay to Play' on Investment Decisions

 SACRAMENTO, CA  – The board of the California State Teachers’ Retirement System (CalSTRS) today approved proposed regulations restricting campaign contributions to board members. Today’s action is the latest step in establishing the state’s first such regulations for public pension plans.

News release

Court Overturns State Raid on Teachers’ Pension Fund

 SACRAMENTO, CA  – The Third District Court of Appeal in Sacramento issued a decision today that will require the State of California to pay the California State Teachers’ Retirement System (CalSTRS) $500 million plus interest stemming from a withheld payment for fiscal year 2003-2004.The three-member panel unanimously held that the state violated its contractual obligation to California’s retired educators when it withheld its

News release

CalSTRS Posts 21 Percent Investment Return for the 2006-07 Fiscal Year
Portfolio Doubles Size From October 2002 Stock Market Drop

 SACRAMENTO, CA  – The California State Teachers’ Retirement System (CalSTRS) posted a 21.0 percent return on investments, adding $26 billion to the fund with $170.4 billion in assets as of June 30, 2007. The nation’s second-largest public pension fund doubled its portfolio in four and a half years following the U.S. stock market’s steep decline in October 2002.

News release

CalSTRS Offers New IRS Compliance Service for School Districts

SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) is launching a new program to assist school districts, county offices of education and community college districts in complying with new Internal Revenue Service regulations regarding 403(b) supplemental retirement savings plans.

News release

CalSTRS and TIAA-CREF Team to Expand Retirement Savings Plan for California Educators

 SACRAMENTO, CA and New York – The California State Teachers’ Retirement System (CalSTRS) and TIAA-CREF, the national financial services organization and the leading provider of retirement services in the academic, medical, research and cultural fields, today announced they have joined forces to expand CalSTRS’ supplemental retirement savings program, which is open to about 800,000 Californians.Through this relationship, CalSTR

News release

CalSTRS Annual Financial Report Recognized for Excellence

 SACRAMENTO, CA  – The California State Teachers’ Retirement System’s 2006 Comprehensive Annual Financial Report recently received the “Certificate of Achievement for Excellence in Financial Reporting” from the Government Finance Officers Association of the United States and Canada. The certificate is the highest form of recognition in the area of governmental accounting and financial reporting.