2018 News Releases
CalSTRS Receives Recognition in CIO Magazine’s Industry Innovation 2018 Awards
CIO Christopher J. Ailman received CIO of the year in the ninth annual award, which celebrates the best of institutional investing
WEST SACRAMENTO, Calif. (December 18, 2018) – The California State Teachers’ Retirement System today announced that it was recognized as the most innovative large public plan of the year in Chief Investment Officer Magazine’s ninth annual Industry Innovation 2018 award.
CalSTRS Receives Inaugural Global Stewardship Award
Award recognizes excellence and innovation in investor stewardship
WEST SACRAMENTO, Calif. (December 17, 2018) – The California State Teachers’ Retirement System has received the International Corporate Governance Network’s (ICGN) inaugural Global Stewardship Disclosure Award for Asset Owners. ICGN introduced the award to celebrate the individuals and organizations that excel in stewardship practices and disclosures.
CalSTRS Selected as a Best Place to Work in Money Management
Latest recognition is the fourth for CalSTRS in the award’s seven years
WEST SACRAMENTO, Calif. (December 10, 2018)– The California State Teachers’ Retirement System today announced it has received top honors in Pensions & Investments magazine’s Best Places to Work in Money Management for 2018.
Today’s announcement reflects the fourth such honor for CalSTRS in the award’s seven years.
CalSTRS’ Christopher Ailman Receives Top Honor in aiCIO Magazine’s Power 100 Ranking
2018 is the CalSTRS CIO's sixth year in the rankings
WEST SACRAMENTO, Calif. (November 15, 2018) – The California State Teachers’ Retirement System today announced that Chief Investment Officer Christopher J. Ailman received the number-one ranking in aiCIO magazine’s 2018 Chief Investment Officer Power 100. The list ranks and profiles the 100 most influential and powerful asset owners in the world.
Institutional Investors and Asset Owners, Managers Representing Nearly $5 Trillion Launch Principles for a Responsible Civilian Firearms Industry
Investors Stand Together to Implement Principles as an Engagement Tool
Nov. 14, 2018 – A coalition of long-term, global institutional and private investors with combined assets of more than $4.83 trillion has come together to create and promote Principles for a Responsible Civilian Firearms Industry. The five principles provide a framework for institutional investors seeking to improve engagement with public and private companies globally that manufacture, distribute, sell or regulate products within the civilian firearms industry in order to address gun safety issues and reduce investment risk.
CalSTRS Invests in Planned Expansion of its West Sacramento Headquarters Campus
Board decision will make more than 200,000 sq. ft. of rentable Class A office space in current riverfront building available for lease.
WEST SACRAMENTO, Calif. – The Teachers’ Retirement Board, trustees of the California State Teachers’ Retirement System, approved the construction of a nearly 275,000-square-foot expansion of its West Sacramento headquarters.
CalSTRS to Divest from Private Prisons
CoreCivic and GEO Group to be removed from Teachers’ Retirement Fund portfolio
WEST SACRAMENTO, Calif. (Nov. 7, 2018)– The Teachers’ Retirement Board of the California State Teachers’ Retirement System voted to direct investment staff to remove the Fund’s holdings in the two U.S. publicly-held companies that operate private prisons: CoreCivic and GEO Group.
CalSTRS Hires Director of Corporate Governance
Kirsty Jenkinson to lead CalSTRS ESG and sustainability efforts.
WEST SACRAMENTO, Calif. (October 23, 2018) – The California State Teachers’ Retirement System announced Kirsty Jenkinson has been hired as the director of corporate governance and will start in January 2019. Ms. Jenkinson replaces Anne Sheehan, who retired in March of this year.
CalSTRS Advances Diversity and Inclusion Principles to Promote Lasting, Impactful Change
WEST SACRAMENTO, CA – August 9, 2018 – As the world’s largest educator-only pension fund, the California State Teachers’ Retirement System (CalSTRS) embodies a century-long pledge to invest hard-earned pension contributions on behalf of almost one million California educators, retirees and their beneficiaries.
CalSTRS Statement on Initiating Engagement Process with Private Prison Companies
On Friday, July 20, 2018, CalSTRS Chief Investment Officer Christopher J. Ailman informed the Teachers’ Retirement Board that he had initiated the CalSTRS Divestment Policy as it applies to investments in private prison companies. The policy requires a comprehensive review of affected companies to determine potential risks they pose to the CalSTRS portfolio. The process includes further engagement with the leadership at the companies to ensure they are adhering to the law, CalSTRS policies, and best practice corporate governance principles.
CalSTRS Reports 9.0 Percent Net Investment Return for FY 17-18
Positive fund performance exceeds 30-year return assumption and reinforces forward progress on funding plan.
WEST SACRAMENTO, Calif. (July 20, 2018) – The California State Teachers’ Retirement System announced that the fund posted a 9.0 percent return (net of fees) for the 2017-18 fiscal year, exceeding the investment assumption of 7.0 percent for the second consecutive year and helping advance the fund towards full funding in the decades ahead. As of June 30, 2018, the total fund value was $223.8 billion.
CalSTRS Hires Julie Underwood as Chief Financial Officer
Ms. Underwood replaces Robin Madsen who retired in March 2018.
WEST SACRAMENTO, Calif. (July 2, 2018) – The California State Teachers’ Retirement System announced Julie Underwood has been hired as the chief financial officer and will start on July 16. Ms. Underwood replaces Robin Madsen, who retired in March of this year.
Ms. Underwood comes to CalSTRS from the $9.9 billion San Bernardino County Employees’ Retirement Association, a multiple-employer defined benefit pension plan, where she’s been the CFO since 2010.
CalSTRS Hires Scott Chan as Deputy Chief Investment Officer
He replaces CalSTRS inaugural DCIO Michelle Cunningham who retired in December 2017.
WEST SACRAMENTO, Calif. (June 21, 2018) – The California State Teachers’ Retirement System today announced the hiring of Scott Chan as the new deputy chief investment officer. Mr. Chan begins his tenure on August 1 and will report directly to CalSTRS Chief Investment Officer Christopher J. Ailman.
Teachers’ Retirement Board Elects Chair and Vice Chair
Dana Dillon will continue to serve as chair; Sharon Hendricks will continue to serve as vice chair
WEST SACRAMENTO, Calif. (May 11, 2018) – The trustees of the California State Teachers’ Retirement System yesterday elected Dana Dillon as board chair and Sharon Hendricks as vice chair for the 2018-19 term. The Teachers’ Retirement Board nominates and elects its chair and vice chair annually. The newly-elected officers assume their posts immediately. The chair and vice chair provide board leadership for the largest educator-only pension fund in the world.
CalSTRS Releases 2017 Actuarial Valuation
Results reflect reduction in investment assumption to 7.0 percent; CalSTRS continues forward progress toward long-term funding goal.
WEST SACRAMENTO, Calif. (May 10, 2018) – The Teachers’ Retirement Board today adopted the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2017, reflecting impacts from investment assumption changes while also noting continued progress toward the system’s long-term funding goals.
CalSTRS Moves Forward to Engage Firearms Makers and Retailers
Corporate governance efforts to begin, aimed at a public engagement strategy with potential divestment as a final resort.
WEST SACRAMENTO, Calif. (May 9, 2018) – The California State Teachers’ Retirement System today unveiled a plan to prioritize engagement with makers and retailers of firearms that are illegal in California. The plan, approved unanimously by the Teachers’ Retirement Board, authorizes CalSTRS corporate governance staff to make firearms engagement activities a top priority by publicly engaging companies and potentially recommending that the board consider divestment if engagement efforts fail.
CalSTRS Ongoing Engagement with Facebook Focuses on Risk Mitigation
WEST SACRAMENTO, Calif. (April 5, 2018) – Today, Aeisha Mastagni, Portfolio Manager in the CalSTRS Corporate Governance Unit, made the following statement regarding CalSTRS’ ongoing engagement with Facebook, Inc.:
“CalSTRS has owned shares in Facebook, Inc. since its initial public offering in 2012, as well as through privately held assets prior to the IPO. While CalSTRS applauds the growth in Facebook’s market capitalization to build value for its shareholders, it is also part of our due diligence to focus on what actions are being taken both now and in the future to mitigate risks that could potentially impact shareholder value.
CalSTRS Applauds Citigroup’s Leadership on U.S. Commercial Firearms Policy
WEST SACRAMENTO, Calif. (March 26, 2018) – Today, Harry Keiley, the Chair of the Investment Committee for the California State Teachers’ Retirement Board, made the following statement regarding the March 22, 2018 announcement by Citigroup, Inc. that they are instituting a new U.S. Commercial Firearms policy.
CalSTRS Commends Dick’s Sporting Goods
WEST SACRAMENTO, Calif. (March 8, 2018) – Today, Harry Keiley, the Chair of the Investment Committee for the California State Teachers’ Retirement Board, made the following statement regarding last week’s announcement by Dick’s Sporting Goods that they will no longer sell guns to customers under the age of 21, they will cease selling high capacity magazines, and they will no longer sell assault-style weapons.
CalSTRS CFO Robin Madsen Retiring
Ms. Madsen oversaw the modernization of the retirement system’s financial branch and enhancement of internal controls measures and robust auditing practices.
WEST SACRAMENTO, Calif. (Feb. 21, 2018) – The California State Teachers’ Retirement System announced today that Robin Madsen, only the second person to hold the position of chief financial officer for CalSTRS, will be retiring on March 31, 2018.
Ms. Madsen began her tenure at CalSTRS in June 2009 as a special consultant to then CFO Christine Ford. She was appointed CFO in November 2009, following Ms. Ford’s transition to the Chief of Staff position.