News release | Thomas Lawrence
WEST SACRAMENTO, Calif. (December 11, 2023) – For the ninth year, Pensions & Investments magazine has named the California State Teachers' Retirement System one of the Best Places to Work in Money Management.
Pensions & Investments recently unveiled the results of its 12th annual survey and recognition program, which is dedicated to identifying and honoring the top employers in the money management industry.
"As their employees attest, the companies named to this year's Best Places to Work list demonstrate a commitment to building and maintaining a strong workplace culture," Pensions & Investments Executive Editor Julie Tatge said. "Even as firms grappled with volatile markets and ongoing stresses from the pandemic, their employees said they felt strong support from their managers, enabling them to do their best work."
The Best Places to Work award-winners are chosen based on workplace policies, practices, philosophy and demographics, as well as an employee survey.
"Our culture of empowerment and collaboration has helped guide us through difficult economic times," CalSTRS Chief Investment Officer Christopher J. Ailman said. "That's how we've been able to consistently outperform peers and match or beat many benchmarks. We're always humbled and motivated by Pensions & Investments' recognition."
"Thanks to the support of our board, we've been able to provide significant growth opportunities to both retain our talented team and recruit external talent to complement our expertise," Deputy Chief Investment Officer Scott Chan said. "This is part of our strategy to manage more assets in-house and to leverage our external partners, which to the credit of our team, has saved more than $1.6 billion in estimated costs over the past six years."
The 2023 Best Places to Work in Money Management award winners are posted online.
M-F, 8 a.m. - 5 p.m. PDT
CalSTRS provides a secure retirement to more than 1 million members and beneficiaries whose CalSTRS-covered service is not eligible for Social Security participation. On average, members who retired in 2022–23 had 25 years of service and a monthly benefit of $5,141. Established in 1913, CalSTRS is the largest educator-only pension fund in the world with $304.9 billion in assets under management as of October 31, 2023. CalSTRS demonstrates its strong commitment to long-term corporate sustainability principles in its annual Sustainability Report.