RI has partnered with the Committee on Workers Capital (CWC) to publish a series of CWC Trustee Profile interviews with union-nominated pension fund trustees that touch on the role of individual board members in driving innovation around responsible investment at their funds. This installment is with Sharon Hendricks, Vice-Chair of the CalSTRS Board of Trustees.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (“CalSTRS”) and Relational Investors LLC (“Relational”) commend today’s election of its nominee, Margaret “Peggy” Foran, to the Occidental Petroleum Corporation (“the Company”) Board of Directors.
The election, along with the previously announced series of reforms regarding CEO succession planning, executive compensation, and board composition, successfully satisfies the terms of the October agreement between CalSTRS/Relational and the Company.
WEST SACRAMENTO, CA – The board of the California State Teachers’ Retirement System (CalSTRS), at its Dec. 2 meeting, lowered several long-term actuarial assumptions including the rate of return on investments from 8 percent to 7.75 percent and its assumed inflation assumptions by 0.25 percent. The move acknowledges an expectation of reduced future earnings and lower inflation.
The board’s decision culminated ten months of comprehensive analysis of the long-term economic assumptions affecting the CalSTRS defined benefit, following recent market declines.
WEST SACRAMENTO, CA – The Board of the California State Teachers’ Retirement System took another step today toward greater transparency of its proceedings by approving the live video streaming and archiving of its meetings on the Web.
The decision means live video streaming, as well as archived versions, will be available on the website, www.CalSTRS.com. CalSTRS currently offers live audio streaming. Also, the current practice of providing DVDs of meetings to anyone who requests them will continue.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (“CalSTRS”) and Relational Investors LLC (“Relational”) endorse the decisive initiatives announced today by Occidental Petroleum Corporation (“the Company”) relating to CEO succession planning, executive compensation reform, and board composition.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today issued the following statement.
CalSTRS wholeheartedly rejects the assertions made by the U.S. Chamber of Commerce and the Business Roundtable in their Sept. 29 lawsuit against the Securities and Exchange Commission’s Aug. 25 proxy access ruling. CalSTRS will explore all possible options, including legal strategies to oppose this action to roll back shareholder rights.
WEST SACRAMENTO, CA – Board members of the California State Teachers’ Retirement System (CalSTRS) today adopted the June 30, 2009 actuarial valuation of the Defined Benefit Program.
The valuation serves as a determination of the fund assets and liabilities. It shows an unfunded obligation of $40.5 billion, an increase of $18 billion from the June 30, 2008 valuation, and a funded ratio of 78 percent, a decrease of 9 percent from last year.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) withdrew 21 of 28 shareholder proposals filed during the 2010 proxy season after successfully engaging companies to make corporate governance changes.
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today applauded the Securities and Exchange Commission’s (SEC) ruling to provide greater shareholder access to the corporate proxy ballot.
In a 3 to 2 decision, the SEC commissioners today broke years of deadlock by allowing shareholders with at least a 3 percent stake in a company’s stock, held for three years, to nominate directors on a company’s proxy ballot. The issue has been a longstanding priority for CalSTRS.
Starting August 20, 2010, CalSTRS headquarters in West Sacramento will remain open on every Friday of the month, not including state holidays. Governor Schwarzenegger’s recent employee furlough order is not expected to affect business at CalSTRS headquarters or any of the regional benefits counseling offices.
In addition to CalSTRS remaining open, the toll-free information phone numbers will continue to operate as usual:
WEST SACRAMENTO, CA–The California State Teachers’ Retirement System today announced John Petzold as its first Director of Investment Management/Deputy Chief Investment Officer. The position comprises both the broad administrative duties of a deputy chief investment officer and the more focused responsibilities of a director of an asset class.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) today issued this statement:
CalSTRS joins with its partner state pension funds and plan sponsors, representing 7 million active and retired employees, with combined assets of more than $1 trillion in applauding meaningful financial regulatory reforms signed into law today by President Obama.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) investment portfolio posted a solid 12.2 percent return at the end of the 2009-10 fiscal year.
The CalSTRS investment portfolio’s market value at fiscal year’s end was $129.77 billion. The 12.2 percent return rate beat the actuarial rate of 8 percent and brought in more than $10 billion as the 2009-10 fiscal year ended on June 30.
The hour-long event included a presentation by CalSTRS CEO Jack Ehnes and Deputy Chief Executive Officer Peggy Plett that focused on sorting fact from fiction surrounding the status of CalSTRS retirement benefits.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) today praised action by Senate and House negotiators to reach agreement on financial regulatory reform legislation. The full House and Senate are expected to act on the measure next week.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) is in support of two reform measures that limit controversial pension practices through increased transparency and accountability.
WEST SACRAMENTO, CA– The California State Teachers Retirement System (CalSTRS) has teamed with two other institutional investors in a shareholder lawsuit against officers and directors of Massey Energy (NYSE: MEE), pointing to an abysmal safety record leading up to the tragedy in a West Virginia coal mine in April.
WEST SACRAMENTO, CA– A resolution proposed by the California State Teachers’ Retirement System (CalSTRS) calls on Chesapeake Energy Corporation (NYSE: CHK) to issue a sustainability report on environmental, social and governance (ESG) issues, focusing on greenhouse gas emissions and its plans to manage emissions. It is the first shareholder resolution on sustainability reporting submitted for consideration at Chesapeake.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) praised Senate passage of federal financial reform legislation as an important step toward greater transparency, accountability and management of risk at the corporate level.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) announced today it will vote against the advisory vote approving executive compensation and the election of all incumbent board members at Occidental Petroleum’s (NYSE: OXY) 2010 Annual Meeting in Los Angeles on May 7.
WEST SACRAMENTO, CA– The California State Teachers’ Retirement System (CalSTRS) today announced Brian J. Bartow as its new General Counsel. His role as lead attorney for the nation’s second largest public pension fund is effective June 1, 2010.
