2012 News Releases

2012 news releases

Statement Ricardo Duran

CalSTRS Releases Statement on Investments in Firearms Manufacturers

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) released a statement today regarding its investments in private equity funds managed by Cerberus Capital Management that are invested in the Freedom Group, which manufactures firearms:

“The tragic and devastating acts that took place December 14 at Sandy Hook Elementary School in Connecticut have prompted many in this country to call for change: To determine what we can do differently to help ensure the unthinkable never happens again.

News release Michael Sicilia

CalSTRS Responds to State Controller’s Review Addressing Pension Spiking Controls and Processes
CalSTRS Responds to State Controller's Review Addressing Pension Spiking Controls and Processes

WEST SACRAMENTO, CA – CalSTRS CEO Jack Ehnes issued a statement today in response to State Controller John Chiang’s “Pension Controls and Mechanisms” review addressing pension spiking:

“Last year, before the State Controller announced plans for his review, CalSTRS had identified the need to make aggressive changes and upgrades to mitigate pension spiking. This resulted in the creation of a toll-free Pension Abuse Reporting Hotline and a dedicated Compensation Review Unit to investigate suspected pension spiking cases.

News release Ricardo Duran

CalSTRS 2012 Proxy Season Successful in Advancing Majority Voting
CalSTRS Reports Overwhelming Success Regarding Adopting a Majority Voting Standard in Director Elections

WEST SACRAMENTO, CA – CalSTRS, the California State Teachers’ Retirement System, reports overwhelming success regarding adopting a majority voting standard in director elections with the 95 companies engaged in the 2012 proxy season.Eighty-two of those companies adopted a majority voting standard.

News release Ricardo Duran Christopher J. Ailman

CalSTRS Investment Returns Reflect Global Markets in 2011-12
Volatility and strong headwinds flatten performance but downturn's wake has passed

WEST SACRAMENTO, CA – Flat investment returns at CalSTRS, the California State Teachers’ Retirement System, reflected the highly volatile and challenging global markets of the 2011-12 fiscal year.

The 1.8-percent return rate is well below the actuarial assumed rate of 7.5 percent and 150 basis points below the policy benchmark, the fund’s performance measuring stick.The CalSTRS Investment Portfolio’s market value for the fiscal year ending June 30 was $150.6 billion.

News release Ricardo Duran

CalSTRS, Industry Group, Say Technology Increases Shareholder Participation
The finding is in a report on best practices for virtual shareholder meetings

WEST SACRAMENTO, CA – CalSTRS, the California State Teachers’ Retirement System, as part of an industry working group, has issued a report titled, “Guidelines for Protecting and Enhancing Online Shareholder Participation in Annual Meetings ,” that shows how technology can boost shareholder participation through online annual meetings.

News release Michael Sicilia

CalSTRS to Vote 5.3 Million Shares Against Entire Wal-Mart Board

WEST SACRAMENTO, CA – Jack Ehnes, chief executive officer of CalSTRS, the California State Teachers’ Retirement System, made the following statement regarding CalSTRS’ intent to vote its 5.3 million shares, worth $313.5 million, at the upcoming shareholder meeting:

“CalSTRS believes former and current Wal-Mart executives and board members breached their fiduciary responsibilities. They did so by failing to respond to indications of a pattern of unethical conduct in the company’s foreign operations.

News release Michael Sicilia

CalSTRS Selects a Private Equity Consultant
Pension Consulting Alliance will provide assessments of the portfolio's performance

WEST SACRAMENTO, CA – The California State Teachers’ Retirement Board, the governing body of CalSTRS, today announced the selection of Pension Consulting Alliance as the private equity consultant to its Investment Committee for the next five years.

PCA will provide independent assessments of the private equity portfolio’s performance.

News release Michelle Mussuto

CalSTRS Employee Recognition Program Receives International Association’s Best Overall Award

WEST SACRAMENTO, CA – CalSTRS, The California Teachers’ Retirement System, today announced that its employee recognition program, Virtuosity > CalSTRS Powered by You, garnered the 2012 RPI Best Practice Standards® Award for Best Overall Recognition Program from Recognition Professionals International (RPI).The international award celebrates employee recognition innovations that enhance organizational per

News release Ricardo Duran

Dana Dillon Elected Chair of CalSTRS Board
Harry M. Keiley elected Vice Chair

WEST SACRAMENTO, CA – The trustees of CalSTRS, the California State Teachers’ Retirement System, unanimously elected Dana Dillon as chair and Harry M. Keiley as vice chair for the 2012-2013 term at their meeting, Thursday April 12, 2012.

The 12-member Teachers’ Retirement Board nominates and elects its chair and vice chair annually. Trustees serve four-year terms. The officers provide leadership to the board as they develop policies and provide direction for the nation’s largest teacher pension fund. The new officers assume their posts immediately.