2013 News Releases

2013 News Releases

Overview
Statement Ricardo Duran

CalSTRS Statement on its Vote at the Disney Annual Shareholder Meeting
Combined Chair/CEO positions and executive compensation program are concerns.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today issued the following statement regarding its votes at the Walt Disney Company Annual Shareholder Meeting in Phoenix, Ariz. This statement is attributable to CalSTRS Director of Corporate Governance, Anne Sheehan.

News release

CalSTRS Disney Proxy Vote Video News Release

CalSTRS Disney Proxy Vote Video News Release

Corporate Governance Director Anne Sheehan lays out CalSTRS’ issues with The Walt Disney Company’s governance structure—especially the current combined role of CEO and Board Chair—and CalSTRS intent to vote against this and other structural shortcomings at Disney’s March 6, 2013 annual meeting.

News release Ricardo Duran

CalSTRS Finds One Million Dollars Overpaid to Cajon Valley Union School District Retirees
Retirement incentive payments were improperly added to final compensation affecting 77 retirees.

WEST SACRAMENTO, CA. – The California State Teachers’ Retirement System (CalSTRS) today announced that incorrect payroll data reported by the Cajon Valley Union School District resulted in pension overpayments of more than $1 million affecting 77 district retirees.

Statement Ricardo Duran

CalSTRS Submits SCR 105 Report on System Funding to the Legislature
Sustaining Retirement Security for Future Generations: Funding the California State Teachers’ Retirement System

“On February 14, 2013, CalSTRS submitted its report of possible funding strategies, Sustaining Retirement Security for Future Generations: Funding the California State Teachers’ Retirement System, to the Legislature as requested by Senate Concurrent Resolution 105 (Negrete McLeod). The report doesn’t contain any single funding approach endorsed by the Teachers Retirement Board. However, from the board’s perspective as fiduciaries, the definitive approach to address the funding shortfall fully funds the Defined Benefit Program within a 30-year timeframe.

News release Ricardo Duran

CalSTRS to Vote Against Disney’s Combined Chair/CEO, Executive Pay
Combined roles create conflicts and compensation plan works against shareholders’ interest.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced its vote at the March 6, 2013, Walt Disney Company annual shareholder meeting. A detailed vote tally and analysis are available in the Corporate Governance section of the CalSTRS website.

News release Ricardo Duran

CalSTRS Launches Redesigned Website
New, easy-to-navigate site is loaded with valuable information encouraging visitors to learn more about CalSTRS plan design, retirement benefits, investment portfolio and long-term plan funding.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) recently unveiled a redesigned and improved website, www.CalSTRS.com. The website’s new design offers California’s educators, stakeholders and the public improved access to CalSTRS benefits and services information. The improved site also reflects the organization’s focus on investments, corporate governance and sustainability, and plan funding issues.

News release Ricardo Duran

CalSTRS Finds Half Million Dollars Overpaid to Yuba City School Retirees
Retirement Incentive payments were improperly added to final compensation affecting 54 retirees.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today that it is in the process of recovering more than $500,000 in pension overpayments to 54 Yuba City Unified School District retirees, the result of incorrectly reported retirement incentive payments. The finding was made public in a CalSTRS Audit Report.

News release Ricardo Duran

CalSTRS Involved in New Financial Services Exam Pilot Program
CalSTRS investment support staff are part of the CFA Institute's Claritas Investment Certificate pilot program.

WEST SACRAMENTO, CA – Investment staff at the California State Teachers’ Retirement System (CalSTRS) are involved in the pilot phase for the Claritas™ Investment Certificate program, designed to raise the knowledge level of people who work alongside investment professionals.

Statement Michael Sicilia Ricardo Duran

CalSTRS Statement on its Decision to Divest of Certain Firearms Holdings
Investment Committee decides to begin divestment process from assault weapons manufacturers.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) Investment Committee today issued the following statement on its decision to direct staff to begin the process of divestment from firearms companies that manufacture weapons that are illegal in California.