CalSTRS Selected as a Best Place to Work in Money Management
Latest recognition is the fourth for CalSTRS in the award’s seven years
WEST SACRAMENTO, Calif. (December 10, 2018)– The California State Teachers’ Retirement System today announced it has received top honors in Pensions & Investments magazine’s Best Places to Work in Money Management for 2018.
Today’s announcement reflects the fourth such honor for CalSTRS in the award’s seven years.
Pensions & Investments, the global news source of money management, recently presented the results of its sixth annual survey and recognition program, which is dedicated to identifying and recognizing the best employers in the money management industry.
“Our culture is our secret sauce that has helped us outperform and maintain one of the best investment organizations.”
Christopher J. Ailman
CalSTRS Chief Investment Officer
“It’s all about culture. The CalSTRS Investments Branch, with just over 150 members, lives and breathes a culture of inclusion, professionalism, collaboration, excellence and camaraderie,” said CalSTRS Chief Investment Officer Christopher J. Ailman. “Our culture is our secret sauce that has helped us outperform and maintain one of the best investment organizations in the U.S. pension community. This is a huge recognition from one of the leading publications in our industry.”
CalSTRS was a recipient of the award in 2017, 2016 and 2013.
“Again this year, it is clear that what makes firms great employers isn’t necessarily about money management in particular. Many firms were cited for their culture and benefits,” said P&I Editor Amy B. Resnick. “Our surveys found that the employers on the list were much more likely to offer things like flex time, telecommuting, child and elder care, family leave, job sharing and adoption assistance.”
“I couldn’t be more proud of our team,” Mr. Ailman added. “Together we have guided this massive CalSTRS investment fund through challenging times and good times. We have some of the most talented investment officers in the industry, who are 100-percent dedicated to serving California’s educators and doing everything we can to protect their retirement future, day in and day out. There is no ‘I’ in team—this is a true team effort and recognition.”
Pensions & Investments partnered with Best Companies Group, an independent research firm specializing in identifying great places to work, to conduct a two-part survey process of employers and their employees.
The first part consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25 percent of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75 percent of the total evaluation. The combined scores determined the top companies.
For a complete list of the 2018 Pensions & Investments‘ Best Places to Work in Money Management winners and write-ups, go to www.pionline.com/BPTW2018.
The California State Teachers’ Retirement System, with a portfolio valued at $219.2 billion as of October 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.
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