CalSTRS announces Jimenez, DiRe as new senior investment directorsWEST 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.
Governor announces reappointment of Prezant to Teachers’ Retirement BoardWEST 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 timeWEST 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 directorWEST 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 actionsWEST 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.
CalSTRS finishes with -1.3% return, beats total fund benchmark in volatile fiscal year 2021–22WEST 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 seasonWEST 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 disclosuresWEST 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 auditorWEST SACRAMENTO, Calif. (June 15, 2022) – The California State Teachers’ Retirement System is pleased to announce the promotion of Cheryl Cervantes-Dietz as chief auditor.
Teachers’ Retirement Board reelects chair Keiley, vice chair HendricksWEST 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 actionWEST 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.
CalSTRS launches modernized websiteWEST 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 divestmentWEST 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 resiliencyWEST 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 timeWEST 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 operationsWEST 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 BoardWEST 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 resourcesWEST 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 CAOWEST 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 portfolioWEST 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.
Lisa Blatnick announced as new CalSTRS COOWEST 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 reports 27.2% net investment return for fiscal year 2020–21WEST 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 boardWEST 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 boardWEST 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.
Cassandra Lichnock announced as new CalSTRS CEOWEST 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 slateWEST 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 marketsWEST 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.
Mastagni elected to Council of Institutional Investors’ board of directorsWEST 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 yearWEST 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 2020WEST 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 OfficerWEST 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 InvestmentsWEST 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.
Scott Chan elected to Toigo Governing Board of DirectorsWEST SACRAMENTO, Calif. (December 21, 2020) – Scott Chan, CalSTRS Deputy Chief Investment Officer, was elected to the Toigo Governing Board of Directors, effective January 1, 2021. The Toigo Foundation fosters career advancement and increased leadership presence of underrepresented talent in the financial industry.
CalSTRS selected as a best place to work in money management for sixth timeWEST SACRAMENTO, Calif. (December 14, 2020) – The California State Teachers’ Retirement System today announced it was named a Best Place to Work in Money Management in 2020 by Pensions & Investments magazine.
Statement on alternate board members for ExxonMobilWEST SACRAMENTO, Calif. (December 7, 2020) – CalSTRS issued the following statement today regarding its intention to support an alternate slate of board members for ExxonMobil being put forth by Engine No. 1:
CalSTRS names April Wilcox as director of investment servicesWEST SACRAMENTO, Calif. (October 19, 2020) – The California State Teachers’ Retirement System today announced the appointment of April Wilcox as the new director of investment services. Wilcox will oversee the business support units of the Investments Branch, including operations, performance, compliance and administration. The position reports directly to Chief Investment Officer Christopher J. Ailman.
CalSTRS supports California Climate Investment FrameworkWEST SACRAMENTO, Calif. (September 24, 2020) – CalSTRS worked closely with the Department of Finance in the development of the California Climate Investment Framework. We are pleased that the Governor and the Framework recognize CalSTRS’ leadership in sustainable investing. The report reflects the high importance we place on managing climate risks and seeking opportunities to invest in climate solutions. CalSTRS’ legacy of climate reporting preceded and currently exceeds the requirements of SB 964. We will continue to lead in helping the state of California achieve its climate goals through the implementation of the Climate Investment Framework, and the CalSTRS Low-Carbon Transition Work Plan.
Governor announces appointment to CalSTRS boardWEST SACRAMENTO, Calif. (August 13, 2020) – The California State Teachers’ Retirement System announced that Governor Newsom has appointed Jennifer Urdan to a four-year term on the California State Teachers’ Retirement Board. The board oversees the retirement benefits for California’s prekindergarten–12 and community college educators covered under CalSTRS.
CalSTRS statement on recent California Rule caseWEST SACRAMENTO, Calif. (August 3, 2020) – On July 30, 2020, the California Supreme Court announced a ruling in the case of Alameda County Deputy Sheriff’s Association v. Alameda County Employees’ Retirement Association. CalSTRS was monitoring the case for potential impacts to retirement law and implementation of the Public Employees’ Pension Reform Act (PEPRA), which took effect in January 2013.
CalSTRS returns 3.9% in 2019–20 amid volatile marketsWEST SACRAMENTO, Calif. (July 20, 2020) – The California State Teachers’ Retirement System (CalSTRS) today announced its investment portfolio returned 3.9% net of fees for the fiscal year ending June 30, 2020, and recorded the year-end fund value at $246.0 billion. The 2019–20 return reflects the ongoing impact of COVID-19 on global financial markets.
CalSTRS head of Sustainable Investment and Stewardship Strategies, Kirsty Jenkinson, selected in the NextGen Class of 2020WEST SACRAMENTO, Calif. (July 13, 2020) – The California State Teachers’ Retirement System today announced that their Sustainable Investment and Stewardship Strategies (SISS) Investment Director, Kirsty Jenkinson, was selected as one of Chief Investment Officer Magazine’s Class of 2020 NextGen investors. Jenkinson leads a portfolio of $6.3 billion and is also responsible for overseeing CalSTRS’ stewardship activities, including the system’s corporate engagement and proxy voting activities, and managing strategic relationships with key stakeholders, the media and the broader investment industry.
Teachers’ Retirement Board elects chair and vice chairWEST SACRAMENTO, Calif. (May 11, 2020) – The trustees of the California State Teachers’ Retirement System (CalSTRS) elected Harry Keiley as board chair and Sharon Hendricks as vice chair of the Teachers’ Retirement Board for the 2020–21 term.
CalSTRS releases valuation for 2019WEST SACRAMENTO, Calif. (May 11, 2020) – In its first-ever virtual meeting, the Teachers’ Retirement Board received the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2019. The valuation provides a snapshot-in-time of the system’s financial health and is part of the ongoing effort to monitor and assess the system’s ability to meet its long-term commitments.
CalSTRS COIO Debra Smith announces retirementWEST SACRAMENTO, Calif. (April 13, 2020) – After 24 years of service, Debra Smith, Chief Operating Investment Officer of the California State Teachers’ Retirement System, announced her retirement in February. She will continue to serve as COIO until May 7, 2020. CalSTRS will soon conduct a competitive search for her successor.
CEO Jack Ehnes postpones retirementWEST SACRAMENTO, Calif. (March 20, 2020) – At the request of the Teachers’ Retirement Board, CalSTRS Chief Executive Officer Jack Ehnes will continue to serve as CEO through June 30, 2021. Ehnes previously announced an earlier retirement date at the March 2020 board meeting. His June 2021 retirement will allow the board to postpone the executive search for a new CEO to ensure the most thorough and competitive process possible. This decision will enable CalSTRS to maintain focus on appropriately responding to the coronavirus crisis and securing the financial future of California’s educators.
CalSTRS CEO Jack Ehnes announces retirementWEST SACRAMENTO, Calif. (March 5, 2020) – Jack Ehnes, chief executive officer of the California State Teachers’ Retirement System (CalSTRS), initially announced his September 2020 retirement at the March 2020 Teachers’ Retirement Board meeting. Following this announcement, the board requested he continue to serve until June 30, 2021, to allow more time to conduct a search for his successor. Ehnes joined CalSTRS as CEO in February 2002.
Joint statement on the importance of long-term, sustainable growthWEST SACRAMENTO, Calif. (March 2, 2020) — CalSTRS, alongside Japan’s Government Pension Investment Fund and the UK’s Universities Superannuation Scheme, released a statement emphasizing the importance of long-term, sustainable growth.
Teachers’ Retirement Board welcomes new memberWEST SACRAMENTO, Calif. (January 28, 2020) — Denise Bradford, a longtime elementary school teacher from the Saddleback Valley Unified School District in Orange County, has begun serving a four-year term on the Teachers’ Retirement Board as one of three elected members on the 12-member board.
CalSTRS advances global stewardship and long-term sustainabilityWEST SACRAMENTO, Calif. (January 23, 2020) – The California State Teachers’ Retirement System today released its 2018–19 Sustainability Report. The report meets the guidelines established by the Global Reporting Initiative (GRI), the first and most widely adopted standards for sustainability reporting.
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