WEST SACRAMENTO, Calif. (April 15, 2019) – California State Teachers’ Retirement System announced that trustee Sharon Hendricks was elected to the PRI Association Board. As an independent organization, PRI encourages investors to use responsible investment to enhance returns and better manage risks.
Prohibits a person employed by the state, whose base salary is greater than $150,000 per year, from receiving a salary increase or a bonus while employed in the same position or classification until January 1, 2014.
Establishes the California Financial Literacy Fund in the State Treasury and authorizes the Controller to administer the fund and program. States that the purpose of the fund is to enable partnerships with the financial services community and governmental and nongovernmental stakeholders to improve Californians’ financial literacy. Allows the Controller to accept private donations and deposit those donations into the fund, which shall be made available upon appropriation in the annual Budget Act. Requires that funds not appropriated within 18 months of being contributed to the fund be returned in full to the contributor. Prohibits the use of donations to promote or market the financial products of any contributor.
Version: Chaptered (Chapter 612, Statutes of 2011)
Prohibits a person who is publicly elected to an office of any kind that is less than full time, on and after January 1, 2013, from becoming a member of a retirement system by virtue of that service or acquiring any retirement right or benefit for serving in that elective office.
Prohibits specified CalSTRS employees from engaging in certain employment activities after leaving service with CalSTRS for a period of four years. Also limits for a period of two years, aiding, advising, consulting with or assisting a business entity in obtaining the award of, or in negotiating, a contract or contract amendment with CalSTRS, if done for compensation. Prohibits specified CalSTRS employees from accepting compensation for providing services as a placement agent, for a period of 10 years after leaving service with CalSTRS, in connection with CalSTRS investments or other business.
Version: Chaptered (Chapter 551, Statutes of 2011)
Requires the State Lands Commission to enter into a memorandum of agreement by April 1, 2012, with the United States Secretary of the Interior to facilitate land exchanges consolidating school land parcels into contiguous holdings for large-scale renewable energy-related projects. Requires the commission, by January 1 of each year, to report to the Legislature on the status of the memorandum of agreement and school land consolidation efforts.
Version: Chaptered (Chapter 485, Statutes of 2011)
Requires that any determination by CalSTRS that an action, as specified in the California Public Divest from Iran Act, fails to satisfy the fiduciary duty of the board be made in a properly noticed public hearing of the full board and that proposed findings be made public 72 hours before they are considered by the board.
Version: Chaptered (Chapter 441, Statutes of 2011)
Limits the types of compensation included in a member’s final compensation for the purpose of determining retirement benefits and effectively requires all members to have a separation from service of 180 days after retirement.
Requires a public officer or employee convicted of a felony to forfeit all rights and benefits under any public retirement system accrued on or after January 1, 2012. Contributions made by the officer or employee to the pension system arising from the forfeited service would be returned to the officer or employee without interest.
Requires CalPERS and CalSTRS to define the term “emerging investment manager” and, beginning August 1, 2012, provide a five-year strategic plan for emerging investment manager participation across all asset classes. Beginning March 1, 2014, and annually thereafter until January 1, 2018, requires the boards to submit an annual report on the progress of the plan to the Legislature.
Version: Chaptered (Chapter 701, Statutes of 2011)
Revises the definitions of placement agent and external manager in order to provide clarity to current law, defines “investment fund” and clarifies the criteria that exempts placement agents, as specified, from certain reporting and registration requirements imposed by local governments.
Version: Chaptered (Chapter 704, Statutes of 2011)
Prohibits CalSTRS board members and specified employees from accepting gifts from any single person who has secured a contract with or submitted a contract proposal to CalSTRS in any calendar year with a total value of more than $50.
Prohibits a person publicly elected to a local office of any kind on and after January 1, 2012, from becoming a member of a retirement system by virtue of that service or acquiring any retirement right or benefit for serving in that elective office.
Requires CalPERS, CalSTRS and the University of California Retirement System, on or before July 1, 2012, each establish and maintain an Internet Web site that allows the public to access specified information about any retired member who receives a pension of $100,000 or more annually and specified information regarding the costs of postretirement health care benefits.
Authorizes the creation of the California Financial Literacy Fund and allows the Controller to accept private donations into the fund to support partnerships between various stakeholders to improve California’s financial literacy.
Version: Introduced 2/18/11
Location: Senate Banking and Financial Institutions Committee
Prohibits a scrutinized company, as defined, from bidding or submitting a proposal for a state contract for goods or services, if the company has had a final judgment filed against them by the U.S. Securities and Exchange Commission related to the Democratic Republic of Congo and conflict minerals disclosure.
Version: Chaptered (Chapter 715, Statutes of 2011)
Sponsor: Enough!, International Corporate Accountability Roundtable
Provides that any determination by CalSTRS that an action relating to selling or transferring specified investments in Iran would be a breach of fiduciary duty be made in a public hearing of the full board after proper public notice and provide an opportunity for public comment.
Electronic privacy is crucial for the ongoing success of the Internet as a convenient means to provide customer service. Your personal information will be used only to conduct CalSTRS-related business.
The California State Teachers’ Retirement System website has been developed in compliance with California Government Code §11135, which requires that all electronic and information technology developed or purchased by the State of California is accessible to people with disabilities. There are various types of physical disabilities that impact user interaction on the web. Vision loss, hearing loss, limited manual dexterity, and cognitive disabilities are examples, with each having different means by which to access electronic information effectively.