2009 News Releases

2009 news releases

News release

CalSTRS Praises Congressional Action Increasing Board Accountability
Representative Waters’ amendment strengthens SEC authority.

WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) today praised congressional action led by Representative Maxine Waters (D-CA) aimed at holding corporate boards more accountable. Rep. Waters’ amendment will empower the Securities and Exchange Commission to make it easier for shareholders to nominate corporate directors.

News release

CalSTRS Backs Dissident Candidates for Texas Industries Board

 WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced support for a dissident slate of director candidates for the board of Texas Industries. CalSTRS owns more than 67,700 shares of Texas Industries (TXI), accounting for 0.24 percent of shares outstanding.

News release

Low Inflation Means Reduced or Eliminated Supplemental Payments
Retired recipients of quarterly supplemental payments will see changes beginning October 1.

 WEST SACRAMENTO, CA – Low inflation is usually a good thing for California’s retired educators because it means basic CalSTRS benefits are keeping up with costs. But for those who have been receiving supplemental benefit payments, it will also mean reduced or no payments beginning Oct. 1, 2009.

News release

CalSTRS Comments on SEC Rules for Better Proxy Access
Proposed rules would make it easier for shareowners to nominate candidates to boards.

 WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) supports the Securities and Exchange Commission’s proposed regulations making it easier for shareholders to make nominations to corporate boards.

The proposed SEC rule S7-10-09 addresses concerns that, given the recent market meltdown, focus on whether:

News release

CalSTRS Searching for Home Loan Program Servicing Firm
Firm will service growing mortgage program for California’s educators.

 SACRAMENTO, CA  – The California State Teachers’ Retirement System (CalSTRS) is searching for a firm to be the master servicing agent for its home loan program. The selected firm will assist CalSTRS employees in daily operations, record keeping and in the development of execution strategies.

The final filing date for proposals is July 30, 2009, with the selection expected in the fall of 2009. 

News release

CalSTRS Improves Proxy Vote Transparency
CalSTRS offers public access to all its proxy votes through online services.

 SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today its most comprehensive, transparent disclosure of proxy votes ever.

The degree and convenience of disclosure this effort offers is unique among institutional investors. Using online postings, CalSTRS will make its votes known before the annual meetings of its more than 3,800 holdings in North America.

News release

Study Shows Electric Utilities Need an Energy Revolution to Reduce Dependence on Fossil Fuels
Calls for increased transparency to aid investors

 Sacramento, CA – On the eve of Earth Day observances, a new report calls for an energy revolution in the operation of electric utilities if greenhouse gas emissions are to be significantly reduced. The report raises the question of how much electric utilities will need to pay for their ongoing carbon emissions and analyzes current levels of risk disclosure to investors.

News release

CalSTRS Names Co-Directors to New Asset Class
Trish Taniguchi and Glen Blacet are named co-directors of Global Equities

 Sacramento, CA – The California State Teachers’ Retirement System today announced Trish Taniguchi and Glen Blacet as co-directors of the newly created asset class of Global Equities.

The new Global Equities Portfolio, approved in February 2009, resulted from a determination that splitting equities into U.S. and non-U.S. asset classes was not an effective approach to diversification.