2020 News Releases

2020 news releases

Overview
Statement Karen Doron

CalSTRS supports California Climate Investment Framework

WEST SACRAMENTO, Calif. (September 24, 2020) – CalSTRS worked closely with the Department of Finance in the development of the California Climate Investment Framework. We are pleased that the Governor and the Framework recognize CalSTRS’ leadership in sustainable investing. The report reflects the high importance we place on managing climate risks and seeking opportunities to invest in climate solutions. CalSTRS’ legacy of climate reporting preceded and currently exceeds the requirements of SB 964. We will continue to lead in helping the state of California achieve its climate goals through the implementation of the Climate Investment Framework, and the CalSTRS Low-Carbon Transition Work Plan.

Statement Karen Doron

CalSTRS statement on recent California Rule case

WEST SACRAMENTO, Calif. (August 3, 2020) – On July 30, 2020, the California Supreme Court announced a ruling in the case of Alameda County Deputy Sheriff’s Association v. Alameda County Employees’ Retirement Association. CalSTRS was monitoring the case for potential impacts to retirement law and implementation of the Public Employees’ Pension Reform Act (PEPRA), which took effect in January 2013. In a 90-page opinion, the court held that the PEPRA provisions at issue in the case clarified existing law and closed loopholes pertaining to pensionable compensation. According to the opinion, these clarifications did not violate contract law or the California Rule which protects public pensions as a vested right. The legislation affected by the ruling applies only to the County Employees’ Retirement Law. Therefore, this ruling does not directly impact CalSTRS’ retirees or calculation of CalSTRS member benefits.

News release Karen Doron

CalSTRS returns 3.9% in 2019–20 amid volatile markets

WEST SACRAMENTO, Calif. (July 20, 2020) – The California State Teachers’ Retirement System (CalSTRS) today announced its investment portfolio returned 3.9% net of fees for the fiscal year ending June 30, 2020, and recorded the year-end fund value at $246.0 billion. The 2019–20 return reflects the ongoing impact of COVID-19 on global financial markets.

News release Vanessa Garcia

CalSTRS head of Sustainable Investment and Stewardship Strategies, Kirsty Jenkinson, selected in the NextGen Class of 2020
Chief Investment Officer (CIO) magazine features Jenkinson as a rising leader in the investment industry.

Kirsty Jenkinson

WEST SACRAMENTO, Calif. (July 13, 2020) – The California State Teachers’ Retirement System today announced that their Sustainable Investment and Stewardship Strategies (SISS) Investment Director, Kirsty Jenkinson, was selected as one of Chief Investment Officer Magazine’s Class of 2020 NextGen investors.

News release Vanessa Garcia

Teachers’ Retirement Board elects chair and vice chair
Harry Keiley will serve as chair, and Sharon Hendricks will serve as vice chair

Harry Keiley

WEST SACRAMENTO, Calif. (May 11, 2020) – The trustees of the California State Teachers’ Retirement System (CalSTRS) elected Harry Keiley as board chair and Sharon Hendricks as vice chair of the Teachers’ Retirement Board for the 2020–21 term.

The 12-member board nominates and elects its chair and vice chair annually, and the newly elected officers assume their posts immediately. The chair and vice chair provide board leadership, direction and policy development for the largest educator-only pension fund in the world.

News release Karen Doron

CalSTRS releases valuation for 2019
Funded ratio improves slightly; board adopts state contribution rate

WEST SACRAMENTO, Calif. (May 11, 2020) – In its first-ever virtual meeting, the Teachers’ Retirement Board received the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2019. The valuation provides a snapshot-in-time of the system’s financial health and is part of the ongoing effort to monitor and assess the system’s ability to meet its long-term commitments.

News release Karen Doron

CalSTRS COIO Debra Smith announces retirement

Debra Smith

WEST SACRAMENTO, Calif. (April 13, 2020) – After 24 years of service, Debra Smith, Chief Operating Investment Officer of the California State Teachers’ Retirement System, announced her retirement in February. She will continue to serve as COIO until May 7, 2020.  CalSTRS will soon conduct a competitive search for her successor.

Statement Karen Doron

CEO Jack Ehnes postpones retirement

Jack Ehnes

WEST SACRAMENTO, Calif. (March 20, 2020) – At the request of the Teachers’ Retirement Board, CalSTRS Chief Executive Officer Jack Ehnes will continue to serve as CEO through June 30, 2021. Ehnes previously announced an earlier retirement date at the March 2020 board meeting. His June 2021 retirement will allow the board to postpone the executive search for a new CEO to ensure the most thorough and competitive process possible. This decision will enable CalSTRS to maintain focus on appropriately responding to the coronavirus crisis and securing the financial future of California’s educators.

News release Karen Doron

CalSTRS CEO Jack Ehnes announces retirement

Jack Ehnes

WEST SACRAMENTO, Calif. (March 5, 2020) – Jack Ehnes, chief executive officer of the California State Teachers’ Retirement System (CalSTRS), initially announced his September 2020 retirement at the March 2020 Teachers’ Retirement Board meeting. Following this announcement, the board requested he continue to serve until June 30, 2021, to allow more time to conduct a search for his successor. Ehnes joined CalSTRS as CEO in February 2002.

News release Thomas Lawrence

Teachers’ Retirement Board welcomes new member
Bradford previously served as chair of the CTA Retirement Committee.

Denise Bradford

WEST SACRAMENTO, Calif. (January 28, 2020) — Denise Bradford, a longtime elementary school teacher from the Saddleback Valley Unified School District in Orange County, has begun serving a four-year term on the Teachers’ Retirement Board as one of three elected members on the 12-member board.

Bradford, who is representing current educators, starts her work on the board with this week’s meeting, which will be held from January 30–31. Her term extends through calendar year 2023.

News release Vanessa Garcia

CalSTRS advances global stewardship and long-term sustainability
Sixth annual sustainability report highlights improvements in funding, expanded member outreach and low-carbon transition preparedness.

WEST SACRAMENTO, Calif. (January 23, 2020) – The California State Teachers’ Retirement System today released its 2018–19 Sustainability Report. The report meets the guidelines established by the Global Reporting Initiative (GRI), the first and most widely adopted standards for sustainability reporting.