2013 News Releases

2013 News Releases

Overview
News release Ricardo Duran

New State Law Allows Online-Only CalSTRS Annual Member Statements As of January 2014
Retirement Progress Reports go paperless, members must request a paper version, if desired.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced that, effective January 1, 2014, CalSTRS Retirement Progress Reports (RPR) will be available exclusively online, unless a paper version is requested. The change is enacted under Assembly Bill 989.

Statement Ricardo Duran Michael Sicilia

CalSTRS Statement on Investment in Freedom Group
CalSTRS expresses disappointment at the lack of a sale

WEST SACRAMENTO, Calif. – The leadership at the California State Teachers’ Retirement System (CalSTRS) today expressed its disappointment that gunmaker, Freedom Group, has not been sold as the nation marks the eve of the anniversary of the tragedy at Sandy Hook Elementary School.  CalSTRS Chief Investment Officer Christopher J. Ailman issued the following statement:

News release Ricardo Duran

CalSTRS Among Best Places to Work In Money Management, Pensions & Investments Magazine Says
CalSTRS is the first pension fund to make the list.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) is the first pension plan to be named to Pensions & Investments magazine’s “Best Places to Work In Money Management” list, the publication announced this week.

Inclusion on the list places CalSTRS, the only public entity on the list, among just 25 companies nationwide to make the list.

News release Ricardo Duran

CalSTRS Christopher Ailman Named #3 of Top Power 100 CIOs, Globally
The accolade reflects on his leadership of world-class investment staff.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced that Chief Investment Officer, Christopher Ailman received the number three spot in aiCIO magazine’s 2013 Chief Investment Officer Power 100. The list ranks and profiles the 100 most influential and powerful asset owners in the world.

News release Michael Sicilia

Investors Ask Fossil Fuel Companies to Assess How Business Plans Fare in Low-Carbon Future
Coalition of 70 investors worth $3 trillion call on world’s largest oil & gas, coal and electric power companies to assess risks under climate action and ‘business as usual’ scenarios.

WEST SACRAMENTO, CA – A group of 70 global investors managing more than $3 trillion of collective assets today launched the first-ever coordinated effort to spur 45 of the world’s top oil and gas, coal and electric power companies to assess the financial risks that climate change poses to their business plans.

News release Ricardo Duran

CalSTRS 2013 Proxy Season Advances Majority Voting Standard
Focus on small cap companies proves to be the right move.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced overwhelming corporate governance success during the 2013 proxy season, as 77 of the 82 companies engaged adopted a majority vote standard in corporate board elections.

News release Ricardo Duran

CalSTRS Names Ashish Jain as New Chief Technology Officer
Mr. Jain will oversee Information Technology architecture, infrastructure and operations.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today the appointment of Ashish Jain as Chief Technology Officer over Information Technology Architecture, Infrastructure and Operations, effective September 16, 2013.

News release Michael Sicilia

New Study Shows CalSTRS’ Retiree Spending Boosts California’s Economy by $11 Billion Annually
Most notably, retiree spending positively impacts rural economies, and is equivalent to the California wine industry.

WEST SACRAMENTO, CA – A new economic impact study released today shows that benefits paid by the California State Teachers’ Retirement System (CalSTRS) to retirees and their beneficiaries statewide generate an $11 billion annual boost into the state’s economy—an amount equivalent to the output of California’s world-renowned wine industry.

News release Ricardo Duran

CalSTRS Decides on New Asset Allocation Mix
Investment Committee diversifies the portfolio by shifting allocation targets from global equity to inflation-linked assets.

WEST SACRAMENTO, CA. – The California State Teachers’ Retirement System (CalSTRS) Investment Committee today voted to make a subtle shift in the long-term asset allocation targets of its $170 billion investment portfolio. The decision caps an exhaustive year-long asset and liability study, which examined the risk and return profiles affecting the investment portfolio.

News release Ricardo Duran

CalSTRS and Relational Commend Timken Spinoff Plan
The plan respects the will of a majority of shareholders to split into separate steel and bearings businesses.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) and Relational Investors LLC (Relational) commended The Timken Company’s plan, announced today, to spin off its steel division into a separately traded public company.

News release Ricardo Duran

CalSTRS Chief Investment Officer Supports Proposed SEC Rules Change
The change would require financial representatives to clearly state they are acting solely for the benefit of their clients.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today its support for proposed Securities and Exchange Commission (SEC) rules requiring financial representatives to act solely for the benefit of their clients when offering defined contribution investment options. The proposed standard is known as the fiduciary standard.

News release Michael Sicilia

CalSTRS Reports Healthy Investment Returns in 2012–13
Steady growth in the global equity markets fueled double-digit returns, but a long-term funding solution is still needed.

WEST SACRAMENTO, CA – Steady growth in the global equity market fueled a 13.8 percent investment return at the California State Teachers’ Retirement System (CalSTRS) to close the 2012–13 fiscal year. However, CalSTRS still faces significant long-term funding challenges.