News releases

Read current and past CalSTRS news releases.

CalSTRS selects Julie Donegan as Real Estate investment director

WEST SACRAMENTO, Calif. (September 6, 2023) – The California State Teachers’ Retirement System, the world’s largest educator-only pension fund, is pleased to announce the promotion of Julie Donegan to Real Estate investment director.

CalSTRS escalates efforts to hold global companies accountable for not adequately disclosing climate change risks; votes against 2,035 boards of directors in proxy season 2023

WEST SACRAMENTO, Calif. (August 10, 2023) – For the 2023 proxy season, the California State Teachers’ Retirement System—the world’s largest educator-only pension fund with more than $315 billion in assets—stepped up its efforts to hold companies around the globe accountable for failing to address climate change risks: CalSTRS voted against the boards of directors at a record 2,035 global companies because they did not provide necessary climate risk disclosures.

CalSTRS investment fund performance as of June 30, 2023

CalSTRS earns 6.3% net return in fiscal year 2022–23

WEST SACRAMENTO, Calif. (July 27, 2023) – The California State Teachers’ Retirement System (CalSTRS) today announced a 6.3% net return on investments for the 2022–23 fiscal year, ending with the total fund value at $315.6 billion as of June 30, 2023.

CalSTRS statement on Facebook case

In response to the Delaware Court of Chancery’s ruling in the derivative lawsuit against Facebook, CalSTRS General Counsel Brian Bartow said the following.

Teachers' Retirement Board reelects Keiley as chair, names Bradford new vice chair

WEST SACRAMENTO, Calif. (May 4, 2023) – At the Teachers’ Retirement Board meeting on May 3, the trustees of the California State Teachers’ Retirement System reelected Harry Keiley as chair and elected Denise Bradford as vice chair of the board for the fiscal year 2023–24 term.

Net zero pledge, climate change and board diversity highlight CalSTRS’ priorities for proxy season 2023

WEST SACRAMENTO, Calif. (April 17, 2023) – As peak proxy voting season kicks off, the California State Teachers’ Retirement System, the world’s largest educator-only pension fund with more than $300 billion in assets, is taking stronger action against corporate boards that fail to demonstrate their commitment to appropriately managing and addressing sustainable business practices. With many global companies holding their annual general meetings in the weeks ahead, a key priority for CalSTRS is enhancing its strategy to address the risks climate change poses to its global portfolio.

Lamont King wears a gray blazer and red tie.

CalSTRS selects Lamont King as first deputy general counsel

WEST SACRAMENTO, Calif. (March 23, 2023) – The California State Teachers’ Retirement System, the world’s largest educator-only pension fund, is pleased to announce the selection of Lamont King as its first deputy general counsel.

Statement on Allan Emkin's nearly four decades of service to CalSTRS

WEST SACRAMENTO, Calif. (March 3, 2023) – Teachers’ Retirement Board Chair Harry Keiley issued the following statement today commemorating Allan Emkin’s nearly 40 years of service as a consultant to the California State Teachers’ Retirement System.

CalSTRS focuses on sustainability, resiliency for long-term success

WEST SACRAMENTO, Calif. (February 9, 2023) – The California State Teachers’ Retirement System today released its 2021–22 Sustainability Report, an annual snapshot of CalSTRS’ organizational sustainability.

CalSTRS announces Jimenez, DiRe as new senior investment directors

WEST SACRAMENTO, Calif. (January 30, 2023) – The California State Teachers’ Retirement System is pleased to announce the appointments of Geraldine Jimenez as senior investment director of public markets and Mike DiRe as senior investment director of private markets.

CalSTRS board member William Prezant has round glasses, wears a black blazer.

Governor announces reappointment of Prezant to Teachers’ Retirement Board

WEST SACRAMENTO, Calif. (January 23, 2023) – The California State Teachers’ Retirement System today announced that Governor Newsom has reappointed William Prezant to a four-year term on the Teachers’ Retirement Board.

CalSTRS named a best place to work in money management for eighth time

WEST SACRAMENTO, Calif. (December 12, 2022) – For the eighth year, Pensions & Investments magazine has named the California State Teachers’ Retirement System one of the Best Places to Work in Money Management.

CalSTRS announces LeBlanc as new retirement readiness director

WEST SACRAMENTO, Calif. (November 7, 2022) – The California State Teachers’ Retirement System, the world’s largest educator-only pension fund, is pleased to announce the hiring of Kate LeBlanc as retirement readiness director.

CalSTRS’ board sets science-based emissions goal for 2030 and commits to additional net zero actions

WEST SACRAMENTO, Calif. (August 31, 2022) – The Teachers’ Retirement Board today authorized a package of investment actions to enhance its efforts to achieve a net zero investment portfolio, address climate change and support the retirement security of California’s public teachers.

Bar chart showing CalSTRS investment fund performance, long-term, historical perspective as of June 30, 2022

CalSTRS finishes with -1.3% return, beats total fund benchmark in volatile fiscal year 2021–22

WEST SACRAMENTO, Calif. (July 29, 2022) – The California State Teachers’ Retirement System (CalSTRS) today announced a -1.3% net return on investments for the 2021–22 fiscal year, ending with the total fund value at $301.6 billion as of June 30, 2022. The 2021–22 return, CalSTRS’ first negative return since 2009, reflects the ongoing volatility of global financial markets impacted by inflation, rising interest rates, the COVID-19 pandemic and the war in Ukraine.

CalSTRS advances net zero progress, climate change action and human capital management during proxy season

WEST SACRAMENTO, Calif. (June 29, 2022) – The California State Teachers’ Retirement System has taken action on a record number of shareholder proposals and board elections during the 2022 proxy season to hold corporations accountable on climate change and human capital management, including workforce diversity, racial equity audits, and the election of more diverse boards of directors.

CalSTRS calls on SEC to require stricter climate disclosures

WEST SACRAMENTO, Calif. (June 24, 2022) – The California State Teachers’ Retirement System is calling on the U.S. Securities and Exchange Commission (SEC) to strengthen proposed rules concerning climate-related disclosures—crucial for investors to measure progress toward a net zero economy—among public companies in the United States.

CalSTRS announces Cervantes-Dietz as new chief auditor

WEST SACRAMENTO, Calif. (June 15, 2022) – The California State Teachers’ Retirement System is pleased to announce the promotion of Cheryl Cervantes-Dietz as chief auditor.

Photo of Harry M. Keiley, TRB chair and Sharon Hendricks, TRB vice chair

Teachers’ Retirement Board reelects chair Keiley, vice chair Hendricks

WEST SACRAMENTO, Calif. (May 9, 2022) – At the Teachers’ Retirement Board meeting on May 4, the trustees of the California State Teachers’ Retirement System (CalSTRS) reelected Harry M. Keiley as chair and Sharon Hendricks as vice chair of the board for the fiscal year 2022–23 term.

CalSTRS will escalate proxy votes to achieve board diversity, net zero progress and climate change action

WEST SACRAMENTO, Calif. (March 30, 2022) – The California State Teachers’ Retirement System is implementing a new, more robust approach to corporate engagement for the 2022 proxy season. The new engagement strategy focuses on opposing the election of directors in companies that have moved too slowly to achieve greater board diversity or significantly address climate change. CalSTRS will also directly support shareholder proposals that promote further progress in reaching global net zero goals that align with the United Nations’ Race to Zero campaign and principles of the Paris Agreement.

Four screens of the new CalSTRS.com webiste

CalSTRS launches modernized website

WEST SACRAMENTO, Calif. (March 10, 2022) – The California State Teachers’ Retirement System today debuted a redesigned website offering an improved search function, simplified navigation and a modern style: CalSTRS.com. The new design focuses on California’s public school educators and their beneficiaries.

The Teachers’ Retirement Board opposes legislative proposal on fossil fuel divestment

WEST SACRAMENTO, Calif. (March 7, 2022) – At its March 2022 meeting the Teachers’ Retirement Board (board) voted to oppose Senate Bill 1173 (Gonzalez), which would prohibit CalSTRS from making additional or new investments in fossil fuel companies and require divestment from such investments by July 1, 2027.

CalSTRS reports on corporate sustainability and resiliency

WEST SACRAMENTO, Calif. (February 25, 2022) – The California State Teachers’ Retirement System today released its 2020–21 Sustainability Report. The report follows the Global Reporting Initiative Standards, which are recognized as a global best practice for impact reporting.

CalSTRS selected as a best place to work in money management for seventh time

WEST SACRAMENTO, Calif. (December 13, 2021) – The California State Teachers’ Retirement System today announced it was named a Best Place to Work in Money Management in 2021 by Pensions & Investments magazine for the sixth consecutive year.

CalSTRS announces Kelly Criss as new head of investment operations

WEST SACRAMENTO, Calif. (November 10, 2021) – The California State Teachers’ Retirement System, the world’s largest educator-only pension fund, today announced the promotion of Kelly Criss as head of investment operations. He replaces April Wilcox, who became CalSTRS’ director of investment services in October 2021.

Governor announces appointment to Teachers’ Retirement Board

WEST SACRAMENTO, Calif. (November 8, 2021) – The California State Teachers’ Retirement System today announced that Governor Newsom has appointed Ken T. Tang to the Teachers’ Retirement Board.

CalSTRS announces Kristel Turko as new director of human resources

WEST SACRAMENTO, Calif. (October 27, 2021) – The California State Teachers’ Retirement System, the world’s largest educator-only pension fund, is pleased to announce the appointment of Kristel Turko as the director of human resources. She replaces Melissa Norcia, who became CalSTRS’ chief administrative officer in September 2021.

Melissa Norcia announced as new CalSTRS CAO

WEST SACRAMENTO, Calif. (September 7, 2021) – The California State Teachers’ Retirement System (CalSTRS), the world’s largest educator-only pension fund, today announced the appointment of Melissa Norcia as the chief administrative officer (CAO). She replaces Lisa Blatnick, who became CalSTRS’ chief operating officer in August 2021. Norcia’s first day as CAO will be September 15, 2021.

CalSTRS' board commits to net zero investment portfolio

WEST SACRAMENTO, Calif. (September 1, 2021) – The Teachers’ Retirement Board (TRB) today committed to achieving net-zero greenhouse gas emissions across its investment portfolio by 2050 or sooner, aligning with the science-based targets of the Paris Agreement.

Chief Operating Officer Lisa Blatnick has blonde hair and smiles. She wears a gray jacket.

Lisa Blatnick announced as new CalSTRS COO

WEST SACRAMENTO, Calif. (August 4, 2021) – The California State Teachers’ Retirement System (CalSTRS), the world’s largest educator-only pension fund, today announced the appointment of Lisa Blatnick as chief operating officer. She replaces Cassandra Lichnock, who became CalSTRS’ chief executive officer on July 1, 2021. Blatnick’s first day as COO will be August 16, 2021.

CalSTRS Investment Fund Performance bar chart

CalSTRS reports 27.2% net investment return for fiscal year 2020–21

WEST SACRAMENTO, Calif. (July 26, 2021) — The California State Teachers’ Retirement System (CalSTRS) today announced a 27.2% net return on investments for the 2020–21 fiscal year, a record high that far exceeded the investment assumption of 7.0%. Growth was driven by strong performance across all markets, despite the global pandemic. As of June 30, 2021, the total fund value was $308.6 billion—double the value from just 10 years ago.

Statement on third CalSTRS-backed director joining ExxonMobil board

WEST SACRAMENTO, Calif. (June 3, 2021) – CalSTRS issued the following statement today regarding the preliminary voting results at ExxonMobil’s Annual Shareholder Meeting in which a third director nominated by Engine No. 1 and supported by CalSTRS from the beginning was elected by shareholders to the ExxonMobil board.

Statement on CalSTRS-backed directors joining ExxonMobil board

WEST SACRAMENTO, Calif. (May 26, 2021) – CalSTRS issued the following statement today regarding the voting results at ExxonMobil’s Annual Shareholder Meeting in which at least two directors nominated by Engine No. 1 and supported by CalSTRS from the beginning were elected by shareholders to the ExxonMobil board.

CEO Cassandra Lichnock has long brown hair and wears a gray blazer.

Cassandra Lichnock announced as new CalSTRS CEO

WEST SACRAMENTO, Calif. (May 19, 2021) – The Teachers’ Retirement Board (Board) announced the appointment of Cassandra Lichnock as the new chief executive officer of the California State Teachers’ Retirement System (CalSTRS). CalSTRS is the world’s largest educator-only pension fund, with a 75% female membership. Lichnock will serve as the fund’s first female CEO, an important milestone demonstrating the Board’s commitment to diversity and inclusion. Her first day as CEO will be July 1, 2021.

Statement on proxy advisor support for alternate ExxonMobil director slate

WEST SACRAMENTO, Calif. (May 18, 2021) – CalSTRS issued the following statement today following reports issued by proxy advisors Glass Lewis and Institutional Shareholder Services (ISS) recommending shareholders support the alternate director slate for ExxonMobil submitted by investment firm Engine No. 1 and supported by CalSTRS in December:

CalSTRS announces new low-carbon transition readiness investment in global equity markets

WEST SACRAMENTO, Calif. (April 9, 2021) – The California State Teachers’ Retirement System (CalSTRS) today announced its investment in two new low-carbon transition readiness exchange-traded funds (ETF). The BlackRock U.S. Carbon Transition Readiness ETF and the BlackRock World ex U.S. Carbon Transition Readiness ETF began trading yesterday and are one of the largest ETF launches in history. These ETFs address market risks and opportunities associated with the global transition to a low-carbon economy while also closely tracking the performance of the broad equity market.

Portfolio Manager Aeisha Mastagni has long, red hair and wears a blue sweater..

Mastagni elected to Council of Institutional Investors’ board of directors

WEST SACRAMENTO, Calif. (March 16, 2021) – The California State Teachers’ Retirement System (CalSTRS) today announced that portfolio manager Aeisha Mastagni was elected to the board of directors for the Council of Institutional Investors (CII). Mastagni, who works in CalSTRS’ Sustainable Investment and Stewardship Strategies (SISS) unit, also served on the CII board of directors from 2015—2019. She was also elected as co-chair for the public fund constituency.

CalSTRS addresses corporate sustainability and business continuity after extraordinary year

WEST SACRAMENTO, Calif. (March 3, 2021) – The California State Teachers’ Retirement System today released its 2019–20 Sustainability Report. The report follows the Global Reporting Initiative (GRI) Standards, which are recognized as the global best practices for corporate sustainability reporting.

Statement on ExxonMobil’s loss of $22 billion in 2020

WEST SACRAMENTO, Calif. (February 3, 2021) – ExxonMobil’s reported 2020 loss of $22 billion demonstrates the continued erosion of shareholder value and that incremental changes are not enough to restore investor confidence and position the company for the global energy transition.

CalSTRS appoints Teresa Schilling as Chief Public Affairs Officer

WEST SACRAMENTO, Calif. (January 21, 2021) – The California State Teachers’ Retirement System, the world’s largest educator-only pension fund, announced the appointment of Teresa Schilling as Chief Public Affairs Officer effective January 25. Schilling will provide strategic leadership and guidance to the Teachers’ Retirement Board, executives and the CalSTRS organization on policy, communications and stakeholder programs and issues. Her position reports directly to CalSTRS Chief Operating Officer Cassandra Lichnock.

Lamont King appointed assistant general counsel for Investments

WEST SACRAMENTO, Calif. (January 5, 2021) – Lamont King was appointed Assistant General Counsel for Investments for the California State Teachers’ Retirement System effective December 14, 2020. In his new role, King heads the Investment Counsel division in the Office of the General Counsel. King began his career with CalSTRS in 2010 as one of two specialized counsels on the investment-focused legal team and rose to senior investment counsel in 2013. He has served in a lead capacity in that role for the past two years.

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