CalSTRS Investment Operations Continue Despite Furloughs
Investment staff will work on Fridays and take alternative days off.
WEST SACRAMENTO, CA – Investment operations at the California State Teachers’ Retirement System (CalSTRS) will continue every business day despite Governor Schwarzenegger’s mandated state employee furloughs.
The CalSTRS headquarters in West Sacramento will close the first, second and third Fridays of each month beginning in August. For July 2009, CalSTRS closed its headquarters on the 10th and will also close July 17 and 24. The governor’s executive order remains in effect through June 30, 2010.
The approximately 100 investment staff members, who will work on the Fridays when the rest of CalSTRS shuts down, will be taking alternate furlough days and are receiving the associated salary cut.
The California State Teachers’ Retirement System, with a $122.4 billion portfolio, is the second largest public pension fund in the United States. It administers retirement, disability and survivor benefits for California’s 833,000 public school educators and their families from the state’s 1,400 school districts, county offices of education and community college districts.