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.
In the nine years since, Ms. Madsen has spearheaded numerous large scale accounting and financial projects that have streamlined both data input and output. Under her direction, CalSTRS accounting and financial reporting was migrated from complex digital spreadsheets to professional grade financial planning and analysis software. The decision to use a software solution not only modernized CalSTRS accounting functions, but also allowed for a seamless implementation of GASB 67 and GASB 72.
“Robin has seemingly unlimited energy and enthusiasm for her role. Her responsibility for the accuracy and quality of the work of over 100 employees engaged in budgets, cash and investment accounting, risk and compliance, and even legislative analysis, is enormous. She carried on all of this responsibility while helping usher CalSTRS into the modern era with the integration of a state-of-the-art financial system,” said CalSTRS Chief Executive Officer Jack Ehnes.
“I have had immense support from a great team of professionals who were willing to change and work through challenges.”
CalSTRS Chief Financial Officer
“CalSTRS has provided me with tremendous opportunities to do work I enjoy, collaborate with engaged stakeholders and employees, and deliver financial information to support long-term decision making,” said Ms. Madsen. “I have had immense support from a great team of professionals who were willing to change and work through challenges to achieve our goals. And I really want to highlight CalSTRS’ role in support of public education through the delivery of a secure and reasonable retirement benefit to the most critical employees of our public school systems, California’s close to one million dedicated educators.”
The California State Teachers’ Retirement System, with a portfolio valued at $231.6 billion as of January 31, 2018, is the largest educator-only pension fund in the world. CalSTRS serves California’s more than 933,000 public school educators and their families, from the state’s 1,700 school districts, county offices of education and community college districts. A hybrid retirement system, CalSTRS administers a combined traditional defined benefit, cash balance and voluntary defined contribution plan. CalSTRS also provides disability and survivor benefits. CalSTRS members retire on average after more than 25 years of service, with a median retirement age of 62.9, and a monthly pension of approximately $4,475, which is not eligible for Social Security participation. For more data, download the CalSTRS Fast Facts 2017 brochure.
See how CalSTRS demonstrates its strong commitment to long-term corporate sustainability principles in its annual Global Reporting Initiative sustainability report: Global Stewardship at Work.