2007 News Releases

2007 news releases

News release

CalSTRS Board Urges Energy Companies To Review Growing Risk of Business in Iran

 SACRAMENTO, CA  – California State Teachers’ Retirement System (CalSTRS) trustees today called on 13 international energy companies with which it invests to take immediate steps to assess the risks to their business operations in Iran. CalSTRS, the nation’s second-largest public pension fund, estimates it has $1.4 billion invested in these companies that have some operations in Iran.

News release

Health Care Coverage Worsens for Retired Educators, Teachers Pension Chief Reports

 Sacramento, CA  – Jack Ehnes, CalSTRS chief executive officer, today reported California’s retired teachers have less financial help from their employers for their health care coverage than just three years ago. In testimony before the Public Employee Post-Employment Benefits Commission, Ehnes reported on results of the second health benefits survey done by California State Teachers’ Retirement System (CalSTRS).

News release

CalSTRS and CalPERS Pensions Power Up State and Local Economies

 SACRAMENTO, CA  – Retirement benefits paid by the state’s two big public pension funds, the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), generate a powerful $21 billion in economic activity statewide every year, according to the first ever study of pension payments, CalPERS announced today.

News release

CalSTRS Corporate Governance Efforts Pay Off
Shareholder Engagement Improves Performance and Governance in Workplan Companies

 SACRAMENTO, CA  – The California State Teachers’ Retirement System has seen both near- and long-term improvements in governance efforts and stock performance of those companies previously placed on its “Workplan” list.Of the five companies identified as poor performers in October 2005, four have made significant changes to their governance, leading to increased board independence, improved accountability to shareholders and po

News release

CalSTRS Expands Savings Investment Vehicles for Public School Employees

 SACRAMENTO, CA  – The California State Teachers’ Retirement System announced today an expansion of its supplemental retirement savings program with the addition of 457 and Roth 403(b) plans by late 2007. What this means for the more than one million California public school employees and their families is they will have more avenues to boost their retirement security.

News release

CalSTRS Seeks Alternative Investment Consultant

 SACRAMENTO, CA  – The California State Teachers’ Retirement System seeks an alternative investment consultant to provide expertise, advice, and recommendations to the CalSTRS Investment Committee related to the overall investment strategy, policies and practices of the CalSTRS alternative investment program.

News release

CalSTRS, CalPERS Urge Shareowners Vote for Proxy Access Proposal at Hewlett Packard
Effort to Ensure Accountability, Growth, Greater Shareowner Value

 SACRAMENTO, CA  – The nation’s two largest public pension funds – owners of more than $1.2 billion in stock at Hewlett-Packard Company – today asked HP shareowners to pass Proposal 3 on the company’s March 14 ballot that would give shareowners a voice in nominating independent directors.

News release

CalSTRS Settles AOL/Time Warner Securities Fraud Suit
Falsifying Revenues Cost California's Teachers Fund $135 Million

 SACRAMENTO, CA  – The California State Teachers’ Retirement System today announced a $105 million settlement in a securities fraud case against AOL Time Warner, its accountants, banks and several former executives.The suit charged that AOL artificially inflated its stock price in 2000 and 2001 prior to its merger with Time Warner, resulti

News release

Institutional Investor & Retirement Organizations Partner to Form New National Non-Profit
National Institute on Retirement Security To Conduct Research & Education Programs

 Washington, D.C.  – Three national trade organizations today filed articles of incorporation to establish a new non-profit, the National Institute on Retirement Security. This unique partnership will create an entity dedicated to conducting research and education programs to foster a deep understanding of the traditional pension system in the U.S.