WEST SACRAMENTO, Calif. (May 9, 2019) – The Teachers’ Retirement Board today received the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2018. The actuarial valuation provides a snapshot-in-time of the system’s financial health, in addition to monitoring the system’s funding status and its ability to meet long-term commitments.
WEST SACRAMENTO, Calif. (May 9, 2019) – The trustees of the California State Teachers’ Retirement System today elected Sharon Hendricks as board chair and Harry Keiley as vice chair for the 2019-20 term.
WEST SACRAMENTO, Calif. (April 25, 2019)– The California State Teachers’ Retirement System today released its fifth annual Sustainability Report. The report, based on data from fiscal year 2017-18, uses the Global Reporting Initiative Standards: Core option.
The Teachers’ Retirement Board has a fiduciary duty to treat proxy votes as plan assets. This activity serves our core mission of using our vote to enhance shareholder returns and improve the financial markets for all investors.
CalSTRS believes the execution of proxies is an important fundamental shareholder right, and staff always seeks to exercise our rights in a manner consistent with the interests of our beneficiaries, California public teachers. We use our proxy votes to support certain corporate directors or shareholder proposals to introduce necessary changes that will enhance the company’s long-term shareholder value.
In 2016-17, CalSTRS voted on more than 79,782 proposals at 7,889 meetings held by companies in our Global Equity portfolio. The 79,782 proposals were a 3.6 percent increase from the 76,995 proposals voted in 2015-16, and the 7,889 meetings considered were slightly less than the 7,932 meetings considered in 2015-16.
In 2016-17, staff voted on 26,488 proposals at 2,963 meetings held by companies in the domestic public equity portfolio. Compared to 2015-16, the number of proposals and meetings was 5.6 percent higher and 1.6 percent lower, respectively.
In 2016-17, staff voted on 53,294 proposals at 4,926 meetings held by companies in our non-domestic equity portfolio. Compared to 2015-16, the number of proposals and meetings was 2.7 percent higher and 0.1 percent lower, respectively.
For fiscal year 2017-18, CalSTRS will continue to vote our proxies in accordance with our Corporate Governance Principles and in a manner that aligns with the interests of our beneficiaries, California public teachers.
