2008 News Releases
CalSTRS CEO Jack Ehnes Joins the Ceres Board of Directors
Investors' environmental network welcomes Jack Ehnes to its governing body
SACRAMENTO, CA – Ceres, a national network of investors and environmental organizations today named California State Teachers’ Retirement System (CalSTRS) Chief Executive Officer, Jack Ehnes, to its board of directors
Statewide, Retired Educators Benefit Rural Counties Most
Teacher pension dollars, and the economic activity they generate, have a larger economic benefit to California than the furniture or oil and gas extraction industries, according to the study, The Annual Economic Impacts of CalSTRS Benefit Payments. The study was commissioned by CalSTRS and conducted by the Applied Research Center at California State University, Sacramento in 2007. Data is available for ten rural counties. (12 individual news releases)
CalSTRS Names Head of Corporate Governance
Anne Sheehan to expand corporate governance efforts
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today the appointment of Anne Sheehan to the newly created position of Director of Corporate Governance. She will join the staff in October to guide its corporate governance program to a higher level of activism.
CalSTRS Names Cassandra Lichnock Director of Human Resources and Organizational Development
SACRAMENTO, CA – Cassandra Lichnock has been named director of Human Resources and Organizational Development for the California State Teachers’ Retirement System (CalSTRS). She begins work at the nation’s second-largest public pension fund on Aug. 25.
CalSTRS Seeks Pension Accounting Consultant
The consultant will develop a pension accounting model and train CalSTRS employees to use it.
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today launched a search for a consultant team to research, design and implement a best practice model for pension accounting and to provide CalSTRS employees transition support and training in its operation.
The final filing date for proposals is Sept. 8, 2008, with the selection expected to be in October.
CalSTRS Beats its Benchmark Despite a Troubled Market
The investment portfolio's 3.7 percent loss is the first in six years.
SACRAMENTO, CA – California State Teachers’ Retirement System (CalSTRS) investments took a 3.7 percent hit in the fiscal year ending June 30, 2008. Even with its first loss in six years, CalSTRS outperformed its benchmark, which dipped 3.8 percent.
The news from the $162.2 billion fund comes amid the gloom of a 5 percent average loss for public pensions, according to Merrill Lynch analysts.
95 Years Serving State’s Educators Celebrated at CalSTRS Board Meeting
Legislative and gubernatorial representatives recognized CalSTRS’ support of California’s educators since 1913.
SACRAMENTO, CA – With a resolution, a letter of congratulations – and a cake – the California Legislature and Governor Schwarzenegger’s office today recognized the California State Teachers’ Retirement System’s (CalSTRS) 95 years of service in support of the state’s educators.
CalSTRS Recognized for Commitment to Diversity
CalSTRS effort benefiting women and minorities in securities earns a national award.
SACRAMENTO, CA – California State Teachers’ Retirement System (CalSTRS) today was recognized for its commitment to involving women and minorities in the securities industry by the National Association of Securities Professionals.
CalSTRS Seeks a Director of Global Equities
The position oversees a portfolio valued at more than $100 billion.
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today launched a national search for a Director of Global Equities to oversee a portfolio valued at more than $100 billion.
Former SEC Chairman Speaks to CalSTRS Board
Arthur Levitt was Longest-Serving SEC Chair
SACRAMENTO, CA – Former Securities and Exchange Commission Chairman Arthur Levitt, Jr. spoke at the June 5 meeting of the Teachers’ Retirement Board, giving a presentation to trustees that touched on regulatory changes in the U.S, corporate governance, and the state of the accounting industry.
ONEOK Vote Supports CalSTRS Call for Climate Risk Reporting
Proxy votes show growing support for reporting on greenhouse gas emissions.
SACRAMENTO, CA – ONEOK Shareholders solidly supported a California State Teachers’ Retirement System (CalSTRS) call for the Tulsa-based gas pipeline company to report on greenhouse gas emissions.
Despite ONEOK (NYSE: OKE) management’s opposition, 33 percent of shareholders supported Proposal #8 as reported at the company’s May 15, 2008 annual meeting.
CalSTRS Names Developing Manager Firms for Fixed Income
Managers program extends CalSTRS reach into the marketplace
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced its intent to award contracts to three investment management firms that will implement a developing manager program in its fixed income portfolio.
RiskMetrics Group Supports Climate Risk Report Resolution Filed with ONEOK
Nation's leading proxy advisor recommends passage of CalSTRS shareholder proposal
SACRAMENTO, CA – RiskMetrics Group, the nation’s leading proxy advisor, recommends investors support a shareholder resolution filed with Tulsa-based ONEOK, Inc., seeking a report on its greenhouse gas emissions.
CalSTRS Pressures ONEOK to Report on Greenhouse Gases
Pension fund seeks risk reporting on climate change gases from the pipeline company.
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) is pressing natural gas pipeline company ONEOK to report on its greenhouse gas emissions through shareowner Proposal 8, scheduled for a vote at the May 15, 2008 annual meeting.
CalSTRS Names Head of Corporate Governance
Nationally known executive Michael McCauley to expand corporate governance efforts
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today the appointment of nationally known executive Michael P. McCauley to guide its corporate governance program to a higher level of activism. He comes on board June 1, 2008.
Dana Dillon Re-elected Chair of CalSTRS Board
Jerilyn Harris returns as Vice-Chair
SACRAMENTO, CA – Trustees of the California State Teachers’ Retirement System (CalSTRS) unanimously re-elected Dana Dillon as Chair and Jerilyn Harris as Vice-Chair for the 2008-09 term at their April 3 meeting.
Investors Get Action From Dynegy on Climate Change
SACRAMENTO, CA – Leading U.S. investors announced today that Dynegy, a Houston-based company that provides wholesale electricity to utilities, cooperatives, municipalities and other energy companies in 15 states, has agreed to prepare a report for shareholders on how it is responding to the business challenges posed by climate change.
CalSTRS Expands New and Next Generation Private Equity Manager Program
Invesco Private Capital to Manage $200 Million Mandate
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today it will expand its relationship with Invesco Private Capital as the manager for its CalSTRS New and Next Generation Manager Fund II, a $200 million private equity portfolio. Invesco Private Capital has offices in San Francisco, New York, Boston and London.
CalSTRS Board Opposes Proposed Legislation Barring Investments with Ties to Sovereign Wealth Funds
Restricts Teachers Pension from Private Equity Investments
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) trustees voted today to oppose California Assembly Bill 1967 due to its restriction to the board’s investment authority and significant negative financial impact to the investment portfolio.
CalSTRS Announces Firms for Developing Manager Program in U.S. Equities
Fund-of-fund managers extend CalSTRS' reach into the marketplace
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced its selection of four investment management firms to construct, manage and monitor a fund of funds for its $1.8 billion U.S. Equities Developing Manager Program.