News Releases
Melissa Norcia announced as new CalSTRS CAO
Norcia joined CalSTRS in 2009 and has served as the director of human resources for the last 6 years
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.
- Commitment aligns with accelerated global movement to net zero and will enable Fund to prudently manage risk and identify net zero aligned investment opportunities
- Four-part implementation framework will guide path to net zero emissions
- The net zero pledge is rooted in our promise to deliver a secure retirement for California’s educators
Lisa Blatnick announced as new CalSTRS COO
Blatnick joined CalSTRS in 2003 and has served as the chief of administrative services for the last 6 years
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 reports 27.2% net investment return for fiscal year 2020–21
Historic fund performance exceeds 30-year return assumption and sets an all-time record
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:
Shareholders have the power to effect change at even the most resistant companies and contribute to the sustainable value of their investments.
This historic board election will strengthen ExxonMobil for the future.
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:
We called for change at ExxonMobil, and a record number of shareholders, including many of the largest investors in the world, voted to hold the company accountable.
Cassandra Lichnock announced as new CalSTRS CEO
She will be the first female CEO in the pension fund’s 108-year history
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:
It’s time for change at ExxonMobil, and change is coming.
CalSTRS announces new low-carbon transition readiness investment in global equity markets
CalSTRS will be one of the largest investors in new BlackRock exchange-traded fund suite
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.
Mastagni elected to Council of Institutional Investors’ board of directors
CalSTRS portfolio manager previously served with CII from 2015–2019
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).
CalSTRS addresses corporate sustainability and business continuity after extraordinary year
Seventh annual sustainability report highlights enterprise risk management in first half of 2020
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.
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.
Scott Chan elected to Toigo Governing Board of Directors
WEST 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 time
Award marks fifth consecutive recognition for CalSTRS.
WEST 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.
Pensions & Investments, the global news source of money management, recently presented the results of its latest annual survey and recognition program, which is dedicated to identifying and recognizing the best employers in the money management industry.
Statement on alternate board members for ExxonMobil
WEST 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:
As the world’s largest educator-only retirement fund, CalSTRS’ investment and engagement decisions are rooted in our mission to deliver a secure pension to California’s public educators. CalSTRS intends to support Engine No. 1’s alternate director slate for ExxonMobil to equip the board with the relevant skills and experience to strengthen long-term performance, resiliency and strategic positioning.
CalSTRS names April Wilcox as director of investment services
WEST 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 Framework
WEST 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 board
WEST 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 case
WEST 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. In a 90-page opinion, the court held that the PEPRA provisions at issue in the case clarified existing law and closed loopholes pertaining to pensionable compensation. According to the opinion, these clarifications did not violate contract law or the California Rule which protects public pensions as a vested right. The legislation affected by the ruling applies only to the County Employees’ Retirement Law. Therefore, this ruling does not directly impact CalSTRS’ retirees or calculation of CalSTRS member benefits.
CalSTRS returns 3.9% in 2019–20 amid volatile markets
WEST 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 2020
Chief Investment Officer (CIO) magazine features Jenkinson as a rising leader in the investment industry.
WEST 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.
Teachers’ Retirement Board elects chair and vice chair
Harry Keiley will serve as chair, and Sharon Hendricks will serve as vice chair
WEST 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.
The 12-member board nominates and elects its chair and vice chair annually, and the newly elected officers assume their posts immediately. The chair and vice chair provide board leadership, direction and policy development for the largest educator-only pension fund in the world.
CalSTRS releases valuation for 2019
Funded ratio improves slightly; board adopts state contribution rate
WEST 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 retirement
WEST 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 retirement
WEST 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 retirement
WEST 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 growth
WEST 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 member
Bradford previously served as chair of the CTA Retirement Committee.
WEST 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.
Bradford, who is representing current educators, starts her work on the board with this week’s meeting, which will be held from January 30–31. Her term extends through calendar year 2023.
CalSTRS advances global stewardship and long-term sustainability
Sixth annual sustainability report highlights improvements in funding, expanded member outreach and low-carbon transition preparedness.
WEST 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.
CalSTRS expands reporting on climate risk management
Latest Green Initiative Task Force report is responsive to SB 964 requirements.
WEST SACRAMENTO, Calif. (December 31, 2019)–The California State Teachers’ Retirement System released its latest Green Initiative Task Force report which responds to California Senate Bill 964 (Allen) and aligns with the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD).
CalSTRS selected as a best place to work in money management
Latest recognition is the fifth for CalSTRS in the award’s eight years.
WEST SACRAMENTO, Calif. (December 9, 2019)– The California State Teachers’ Retirement System today announced it has again received recognition in Pensions & Investments magazine’s Best Places to Work in Money Management for 2019.
CalSTRS statement on SEC proposed regulation
WEST SACRAMENTO, Calif. (November 6, 2019) – In response to the Securities and Exchange Commission November 5 Proposed Proxy Advisor Regulation, CalSTRS issued the following statement:
The SEC proposed new proxy advisor and shareholder proposal threshold rules that will weaken investors’ ability to hold corporations accountable.
CalSTRS appoints William Perez as Benefits and Services Executive Officer
Perez brings more than 20 years of experience in customer service and contact center operations.
WEST SACRAMENTO, Calif. (October 14, 2019) – The California State Teachers’ Retirement System, the nation’s largest educator-only pension fund, announced the appointment of William “Bill” Perez as Benefits and Services Executive Officer.
In his role as executive officer, effective November 4, Perez will provide high-level oversight and management of all retirement, disability and survivor benefits, member account services, benefits planning and customer contact program operations in leading CalSTRS’ largest branch. His position reports directly to CalSTRS Chief Operating Officer Cassandra Lichnock.
Teachers’ Retirement Board addresses climate change in investment portfolio
Low-Carbon Transition Work Plan will guide CalSTRS over next 18 months.
WEST SACRAMENTO, Calif. (October 7, 2019) – The Teachers’ Retirement Board initiated the implementation of a Low-Carbon Transition Work Plan at its October meeting. The transition plan builds on more than 15 years of work in climate-risk mitigation strategies.
NAGDCA names Sandy Blair as president
Blair, Director of Retirement Readiness, oversees defined contribution plans, member education and outreach efforts.
WEST SACRAMENTO, Calif. (September 18, 2019) – The National Association of Government Defined Contribution Administrators recently elected the California State Teachers’ Retirement System’s Sandy Blair as president.
CalSTRS names Karen Doron as Communications Director
She brings more than 20 years of experience in strategic communications, marketing and public relations to the position.
WEST SACRAMENTO, Calif. (August 22, 2019) – The California State Teachers’ Retirement System (CalSTRS), the nation’s largest educator-only pension fund, announced the appointment of Karen Doron as communications director.
CalSTRS seeks to join lawsuit to reform governance practices at Facebook
WEST SACRAMENTO, Calif. (August 20, 2019) – The Teachers’ Retirement Board today announced it will make a motion to be added as a plaintiff to a pending derivative case against Facebook’s leadership, including CEO/Chairman Mark Zuckerberg. A derivative lawsuit is brought by shareholders on behalf of a corporation to remedy harm done to the corporation.
CalSTRS reports 6.8% investment return for FY 2018-19
CalSTRS returns close to target despite market volatility.
WEST SACRAMENTO, Calif. (July 23, 2019) – The California State Teachers’ Retirement System today announced a 6.8% net return on investments for the fiscal year ending June 30, 2019, and recorded its highest-ever fund value at $236.9 billion.
CalSTRS head of Global Equity June Kim highlighted as a NextGen investor
CIO Magazine features Kim as one of 2019’s inspiring investment industry leaders.
WEST SACRAMENTO, Calif. (July 12, 2019) – The California State Teachers’ Retirement System today announced that their Global Equity Director June Kim was selected as one of Chief Investment Officer Magazine’s 30 NextGen investors. Kim leads the largest asset class— at 51%— of the nation’s second-largest retirement system’s total portfolio.
CalSTRS announces sustainability-focused global equity managers
Managers selected to drive long-term value creation through intensive ESG integration.
WEST SACRAMENTO, Calif. (June 26, 2019) – The California State Teachers’ Retirement System today announced the selection of three new global equity investment managers. The firms will collectively manage $750 million across non-U.S. focused strategies.
CalSTRS signs Vatican Climate Action Statement
Chair of Investment Committee participates in the Pope’s dialogue on energy transition
WEST SACRAMENTO, Calif. (June 17, 2019) – The California State Teachers’ Retirement System, alongside leading global investors and oil and gas industry executives, today announced a collective commitment to accelerate action to avoid the worst consequences of climate change.
CalSTRS appoints Geraldine Jimenez Director of New Investment Strategy and Risk unit
Unit’s primary goal: improve the risk-adjusted returns of the CalSTRS portfolio through a total fund research and decision-making structure
WEST SACRAMENTO, Calif. (June 13, 2019) – The California State Teachers’ Retirement System announces the appointment of Geraldine Jimenez as Director of Investment Strategy and Risk. This new unit, situated in the CalSTRS Investment Branch, was established in May 2019. The unit is responsible for implementing and monitoring CalSTRS’ overall investment portfolio strategy and risk profile.
CalSTRS Global Equity Director June Kim named as Aspen Institute Finance Leaders Fellow
Two-year program focuses on connecting finance to society-at-large
WEST SACRAMENTO, Calif. (May 22, 2019) – The California State Teachers’ Retirement System today announced that Global Equity Director June Kim has been selected as one of 22 Finance Leaders Fellows at the Aspen Institute, part of the Aspen Global Leadership Network. Fellows are nominated by a third party; each class of Fellows is made up of high-integrity, highly diverse individuals who have something to teach and to learn from the others.
CalSTRS opens member service center in Fresno
Fresno full-service member center is the eighth to open statewide since 2009
WEST SACRAMENTO, Calif. (May 20, 2019) – The California State Teachers’ Retirement System today announced the opening of its eighth member center, in Fresno’s Civic Center Square.
Other CalSTRS service centers are in Glendale, Irvine, Riverside, Redding, Santa Clara, San Diego, and at the CalSTRS headquarters in West Sacramento.
CalSTRS now a majority owner in Fairfield Residential
Acquisition consistent with Collaborative Model framework for real estate
WEST SACRAMENTO, Calif. (May 15, 2019) – The California State Teachers’ Retirement System today announced its acquisition of the majority interest in Fairfield Residential Company LLC from Brookfield Asset Management. Brookfield retained its interest in the investment manager of Fairfield’s affiliated real estate funds. Recently CalSTRS adopted a Collaborative Model for investments across all asset classes in its portfolio. This approach supports identifying and investing in strategic opportunities, such as the acquisition of real estate operating companies like Fairfield.
CalSTRS releases valuation for 2018
Slight improvement reflects better than expected investment returns
WEST SACRAMENTO, Calif. (May 9, 2019) – The Teachers’ Retirement Board today received the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2018. The actuarial valuation provides a snapshot-in-time of the system’s financial health, in addition to monitoring the system’s funding status and its ability to meet long-term commitments.
Teachers’ Retirement Board elects Chair and Vice Chair
Board members selected Sharon Hendricks as Chair and Harry Keiley as Vice Chair
WEST SACRAMENTO, Calif. (May 9, 2019) – The trustees of the California State Teachers’ Retirement System today elected Sharon Hendricks as board chair and Harry Keiley as vice chair for the 2019-20 term.
CalSTRS announces its latest progress report toward long-term sustainability
Fifth annual report showcases advances in pension plan full funding, retirement preparedness and cybersecurity
WEST SACRAMENTO, Calif. (April 25, 2019)– The California State Teachers’ Retirement System today released its fifth annual Sustainability Report. The report, based on data from fiscal year 2017-18, uses the Global Reporting Initiative Standards: Core option.
CalSTRS trustee Sharon Hendricks elected to PRI board
Principles of Responsible Investment is the world’s leading proponent of responsible investment
WEST SACRAMENTO, Calif. (April 15, 2019) – California State Teachers’ Retirement System announced that trustee Sharon Hendricks was elected to the PRI Association Board. As an independent organization, PRI encourages investors to use responsible investment to enhance returns and better manage risks.
Governor announces appointment to CalSTRS board
WEST SACRAMENTO, Calif. (April 8, 2019) – The California State Teachers’ Retirement System announced that Governor Newsom has appointed William Prezant to the California State Teachers’ Retirement Board. The board oversees the retirement benefits for California’s prekindergarten–12 and community college educators covered under the California State Teachers’ Retirement System.
CalSTRS board trustees certified for four-year term
Teachers’ Retirement Board member representatives will serve through 2023
WEST SACRAMENTO, Calif. (January 16, 2019) – The California State Teachers’ Retirement System today announced the certification of three member representatives to the CalSTRS governing board. The members will each serve a four-year term, which begins January 1, 2020.
The three candidates, two who represent pre-kindergarten to 12th grade educators and one who represents community college educators, were not opposed and were certified elected by CalSTRS Chief Executive Officer Jack Ehnes.
CalSTRS Receives Recognition in CIO Magazine’s Industry Innovation 2018 Awards
CIO Christopher J. Ailman received CIO of the year in the ninth annual award, which celebrates the best of institutional investing
WEST SACRAMENTO, Calif. (December 18, 2018) – The California State Teachers’ Retirement System today announced that it was recognized as the most innovative large public plan of the year in Chief Investment Officer Magazine’s ninth annual Industry Innovation 2018 award.
CalSTRS Receives Inaugural Global Stewardship Award
Award recognizes excellence and innovation in investor stewardship
WEST SACRAMENTO, Calif. (December 17, 2018) – The California State Teachers’ Retirement System has received the International Corporate Governance Network’s (ICGN) inaugural Global Stewardship Disclosure Award for Asset Owners. ICGN introduced the award to celebrate the individuals and organizations that excel in stewardship practices and disclosures.
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.
CalSTRS’ Christopher Ailman Receives Top Honor in aiCIO Magazine’s Power 100 Ranking
2018 is the CalSTRS CIO's sixth year in the rankings
WEST SACRAMENTO, Calif. (November 15, 2018) – The California State Teachers’ Retirement System today announced that Chief Investment Officer Christopher J. Ailman received the number-one ranking in aiCIO magazine’s 2018 Chief Investment Officer Power 100. The list ranks and profiles the 100 most influential and powerful asset owners in the world.
Institutional Investors and Asset Owners, Managers Representing Nearly $5 Trillion Launch Principles for a Responsible Civilian Firearms Industry
Investors Stand Together to Implement Principles as an Engagement Tool
Nov. 14, 2018 – A coalition of long-term, global institutional and private investors with combined assets of more than $4.83 trillion has come together to create and promote Principles for a Responsible Civilian Firearms Industry. The five principles provide a framework for institutional investors seeking to improve engagement with public and private companies globally that manufacture, distribute, sell or regulate products within the civilian firearms industry in order to address gun safety issues and reduce investment risk.
CalSTRS Invests in Planned Expansion of its West Sacramento Headquarters Campus
Board decision will make more than 200,000 sq. ft. of rentable Class A office space in current riverfront building available for lease.
WEST SACRAMENTO, Calif. – The Teachers’ Retirement Board, trustees of the California State Teachers’ Retirement System, approved the construction of a nearly 275,000-square-foot expansion of its West Sacramento headquarters.
CalSTRS to Divest from Private Prisons
CoreCivic and GEO Group to be removed from Teachers’ Retirement Fund portfolio
WEST SACRAMENTO, Calif. (Nov. 7, 2018)– The Teachers’ Retirement Board of the California State Teachers’ Retirement System voted to direct investment staff to remove the Fund’s holdings in the two U.S. publicly-held companies that operate private prisons: CoreCivic and GEO Group.
CalSTRS Hires Director of Corporate Governance
Kirsty Jenkinson to lead CalSTRS ESG and sustainability efforts.
WEST SACRAMENTO, Calif. (October 23, 2018) – The California State Teachers’ Retirement System announced Kirsty Jenkinson has been hired as the director of corporate governance and will start in January 2019. Ms. Jenkinson replaces Anne Sheehan, who retired in March of this year.
CalSTRS Advances Diversity and Inclusion Principles to Promote Lasting, Impactful Change
WEST SACRAMENTO, CA – August 9, 2018 – As the world’s largest educator-only pension fund, the California State Teachers’ Retirement System (CalSTRS) embodies a century-long pledge to invest hard-earned pension contributions on behalf of almost one million California educators, retirees and their beneficiaries.
CalSTRS Statement on Initiating Engagement Process with Private Prison Companies
On Friday, July 20, 2018, CalSTRS Chief Investment Officer Christopher J. Ailman informed the Teachers’ Retirement Board that he had initiated the CalSTRS Divestment Policy as it applies to investments in private prison companies. The policy requires a comprehensive review of affected companies to determine potential risks they pose to the CalSTRS portfolio. The process includes further engagement with the leadership at the companies to ensure they are adhering to the law, CalSTRS policies, and best practice corporate governance principles.
CalSTRS Reports 9.0 Percent Net Investment Return for FY 17-18
Positive fund performance exceeds 30-year return assumption and reinforces forward progress on funding plan.
WEST SACRAMENTO, Calif. (July 20, 2018) – The California State Teachers’ Retirement System announced that the fund posted a 9.0 percent return (net of fees) for the 2017-18 fiscal year, exceeding the investment assumption of 7.0 percent for the second consecutive year and helping advance the fund towards full funding in the decades ahead. As of June 30, 2018, the total fund value was $223.8 billion.
CalSTRS Hires Julie Underwood as Chief Financial Officer
Ms. Underwood replaces Robin Madsen who retired in March 2018.
WEST SACRAMENTO, Calif. (July 2, 2018) – The California State Teachers’ Retirement System announced Julie Underwood has been hired as the chief financial officer and will start on July 16. Ms. Underwood replaces Robin Madsen, who retired in March of this year.
Ms. Underwood comes to CalSTRS from the $9.9 billion San Bernardino County Employees’ Retirement Association, a multiple-employer defined benefit pension plan, where she’s been the CFO since 2010.
CalSTRS Hires Scott Chan as Deputy Chief Investment Officer
He replaces CalSTRS inaugural DCIO Michelle Cunningham who retired in December 2017.
WEST SACRAMENTO, Calif. (June 21, 2018) – The California State Teachers’ Retirement System today announced the hiring of Scott Chan as the new deputy chief investment officer. Mr. Chan begins his tenure on August 1 and will report directly to CalSTRS Chief Investment Officer Christopher J. Ailman.
Teachers’ Retirement Board Elects Chair and Vice Chair
Dana Dillon will continue to serve as chair; Sharon Hendricks will continue to serve as vice chair
WEST SACRAMENTO, Calif. (May 11, 2018) – The trustees of the California State Teachers’ Retirement System yesterday elected Dana Dillon as board chair and Sharon Hendricks as vice chair for the 2018-19 term. The Teachers’ Retirement Board nominates and elects its chair and vice chair annually. The newly-elected officers assume their posts immediately. The chair and vice chair provide board leadership for the largest educator-only pension fund in the world.
CalSTRS Releases 2017 Actuarial Valuation
Results reflect reduction in investment assumption to 7.0 percent; CalSTRS continues forward progress toward long-term funding goal.
WEST SACRAMENTO, Calif. (May 10, 2018) – The Teachers’ Retirement Board today adopted the results of the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2017, reflecting impacts from investment assumption changes while also noting continued progress toward the system’s long-term funding goals.
CalSTRS Moves Forward to Engage Firearms Makers and Retailers
Corporate governance efforts to begin, aimed at a public engagement strategy with potential divestment as a final resort.
WEST SACRAMENTO, Calif. (May 9, 2018) – The California State Teachers’ Retirement System today unveiled a plan to prioritize engagement with makers and retailers of firearms that are illegal in California. The plan, approved unanimously by the Teachers’ Retirement Board, authorizes CalSTRS corporate governance staff to make firearms engagement activities a top priority by publicly engaging companies and potentially recommending that the board consider divestment if engagement efforts fail.
CalSTRS Ongoing Engagement with Facebook Focuses on Risk Mitigation
WEST SACRAMENTO, Calif. (April 5, 2018) – Today, Aeisha Mastagni, Portfolio Manager in the CalSTRS Corporate Governance Unit, made the following statement regarding CalSTRS’ ongoing engagement with Facebook, Inc.:
“CalSTRS has owned shares in Facebook, Inc. since its initial public offering in 2012, as well as through privately held assets prior to the IPO. While CalSTRS applauds the growth in Facebook’s market capitalization to build value for its shareholders, it is also part of our due diligence to focus on what actions are being taken both now and in the future to mitigate risks that could potentially impact shareholder value.
CalSTRS Applauds Citigroup’s Leadership on U.S. Commercial Firearms Policy
WEST SACRAMENTO, Calif. (March 26, 2018) – Today, Harry Keiley, the Chair of the Investment Committee for the California State Teachers’ Retirement Board, made the following statement regarding the March 22, 2018 announcement by Citigroup, Inc. that they are instituting a new U.S. Commercial Firearms policy.
CalSTRS Commends Dick’s Sporting Goods
WEST SACRAMENTO, Calif. (March 8, 2018) – Today, Harry Keiley, the Chair of the Investment Committee for the California State Teachers’ Retirement Board, made the following statement regarding last week’s announcement by Dick’s Sporting Goods that they will no longer sell guns to customers under the age of 21, they will cease selling high capacity magazines, and they will no longer sell assault-style weapons.
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.
CalSTRS Green Initiative Task Force Report Evaluates ESG Risks
Each asset class presents methods used to identify and evaluate environmental risks.
WEST SACRAMENTO, Calif. (Feb. 8, 2018) – The California State Teachers’ Retirement System presented its 11th annual Green Initiative Task Force Report yesterday at the Teachers’ Retirement Board Investment Committee meeting. The report highlights CalSTRS environmental-themed investments and environmental risk-management efforts.
CalSTRS Adopts Inaugural Set of Investment Beliefs
Investment beliefs create a framework to guide investments in a complex marketplace
WEST SACRAMENTO, Calif. (February 7, 2018) – The California State Teachers’ Retirement System today adopted Investment Belief #8, thus completing its first-ever set of investment beliefs to provide overarching guidance on CalSTRS’ investment decisions across its portfolio asset classes.
CalSTRS Selects Eight ESG-Focused Asset Managers
This group of U.S. and Non-U.S. Public Equity managers is eligible to receive future allocations.
WEST SACRAMENTO, Calif. (Feb. 2, 2018) – The California State Teachers’ Retirement System announced today that, following a rigorous 15-month process, it has selected eight Environmental, Social and Governance-focused asset managers. The following asset managers have been chosen to execute specific investment strategies. When the right investment opportunity presents itself, one or more of these managers are eligible to receive a commitment.
Global Stewardship and Accountability the Basis of CalSTRS 4th Annual Sustainability Report
Fourth annual report showcases pension fund’s ESG efforts across varied business areas.
WEST SACRAMENTO, Calif. (January 30, 2018)– The California State Teachers’ Retirement System today released Global Stewardship at Work, its 2016-17 sustainability report. This is the fourth year the system published the report, which is based on the Global Reporting Initiative G4 Guidelines.
CalSTRS Director of Corporate Governance Set to Retire
Anne Sheehan was the pension fund’s first ever corporate governance director
WEST SACRAMENTO, Calif. (Jan. 18, 2018) – The California State Teachers’ Retirement System’s Director of Corporate Governance, Anne Sheehan, announced that she will retire March 30, 2018 after 10 years at the helm of the division.
CalSTRS Statement Regarding Shareholder Letter to Apple Inc.
WEST SACRAMENTO, Calif. – CalSTRS Director of Corporate Governance Anne Sheehan made the following statement regarding the recent letter issued to Apple Inc. on January 6, 2018.
CalSTRS Selected as a Best Place to Work in Money Management
This is the third time, in the award’s six year history, that CalSTRS work culture has been recognized
WEST SACRAMENTO, Calif. (Dec. 12, 2017) – The California State Teachers’ Retirement System today announced that Pensions & Investments magazine has named it a Best Place to Work in Money Management for 2017. This year’s honor is the third CalSTRS has garnered—the only public pension plan to do so.
CalSTRS Chief Investment Officer Receives Lifetime Achievement Award
Christopher J. Ailman is honored by Institutional Investor as a world class money manager
WEST SACRAMENTO, Calif. (Nov. 29, 2017) – California State Teachers’ Retirement System’s Chief Investment Officer Christopher J. Ailman has been named recipient of Institutional Investor magazine’s first-ever lifetime achievement award. The award recognizes Mr. Ailman’s three-decade career, including 17 years at CalSTRS–where he shepherded the portfolio’s growth from $116 billion upon his arrival in 2000 to $219.6 billion today.
CalSTRS 403bCompare Website Wins Analytics Innovation Award
This is the redesigned website’s third award garnering national recognition.
WEST SACRAMENTO, Calif. (Nov. 21, 2017) – The California State Teachers’ Retirement System received the Drexel LeBow Analytics 50 Award for its redesigned 403bCompare website from Drexel University’s LeBow College of Business. The website was selected based on three criteria: the complexity of the business challenge; the analytics solution implemented; and the solution’s business impact on the organization.
CalSTRS Earns TRUE Gold Level Zero Waste Certification
Green Business Certification, Inc. impressed with headquarters building waste diversion process
WEST SACRAMENTO, Calif. (Nov. 13, 2017) – The California State Teachers’ Retirement System’s Environmental Sustainability Program successfully diverted over 95 percent of the headquarters building’s office waste from landfills and incinerators, preventing deleterious effects on the environment.
CalSTRS Selects RCLCO as Investment Committee Real Estate Consultant
RCLCO will advise the committee on strategy, policy and practices of the Real Estate Program
WEST SACRAMENTO, Calif. (Nov. 2, 2017) – At its November 1 meeting, the California State Teachers’ Retirement System Investment Committee announced the selection of RCLCO as the Committee’s new real estate consultant. The contract, which depending on the result of negotiations, will begin in March 2018, is for a three-year term, with a possible two-year extension. The current contract—held by the Townsend Group—expires in February 2018.
CalSTRS CEO Elected President of National Council on Teacher Retirement
Jack Ehnes is the first California leader of the nationwide organization.
WEST SACRAMENTO, Calif. – CalSTRS Chief Executive Officer Jack Ehnes has been elected president of the National Council on Teacher Retirement, marking the first time a Californian has led the organization dedicated to safeguarding the integrity of public retirement systems in the U.S. and its territories. Mr. Ehnes begins his one year term on October 18, succeeding outgoing president, Jill Bachus, Assistant Treasurer, Tennessee Treasury Department.
CalSTRS 403bCompare Website Wins Award of Innovation
The redesigned website’s second award is its first from the investment industry.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System received the Award of Innovation for its redesigned 403bCompare website from Pensions & Investments magazine and the Defined Contribution Institutional Investment Association.
CalSTRS Statement on Procter & Gamble Co. Board of Directors Vote
WEST SACRAMENTO, Calif. – CalSTRS Chief Investment Officer Christopher J. Ailman made the following statement regarding the strong shareholder support Nelson Peltz received at today’s vote for a position on the board of directors at Procter & Gamble.
CalSTRS Statement on ExxonMobil Plan to Reduce Methane Emissions
WEST SACRAMENTO, Calif. – CalSTRS Director of Corporate Governance Anne Sheehan made the following statement regarding ExxonMobil’s announcement of its intent to expand its Methane Emissions Reduction Program:
“As a longtime advocate for increased climate risk management, CalSTRS supports ExxonMobil’s announcement that it plans to enhance its methane risk management and reduction efforts with concrete steps that will simultaneously reduce atmospheric emissions and capture more natural gas by phasing out methane-emitting equipment, increasing training and designing new emissions-free systems.
CalSTRS Statement of Support for Nelson Peltz for P&G Board
WEST SACRAMENTO, Calif. – CalSTRS Director of Corporate Governance Anne Sheehan made the following statement regarding the organization’s intent to support the nomination of Nelson Peltz to the board of directors at Procter & Gamble (NYSE:PG).
CalSTRS 403bCompare.com Wins Best of Web Award
Center for Digital Government applauds improved user features such as side-by-side comparisons and real-time fee data.
WEST SACRAMENTO, Calif., – On September 15, the 403bCompare.com website—hosted and recently redesigned by in-house CalSTRS staff resources—was awarded the prestigious Best of the Web Award in the State Government Experience category by the Center for Digital Government.
CalSTRS Supports S&P Action to Bar Multi-Class Share Companies from Index
WEST SACRAMENTO, Calif. (Aug. 4, 2017) – CalSTRS Director of Corporate Governance Anne Sheehan issued the following statement in response to S&P Dow Jones Indices decision this week to not include companies with multi-class shares in the S&P Composite 1500®.
“We are very pleased by S&P’s decision because it reflects the view of investors that dual and multi-class share structures eliminate a core corporate governance principle—one share, one vote.
CalSTRS Deputy CIO Announces Retirement After 27 Years
Michelle Cunningham’s investment career in public service is an understated success.
WEST SACRAMENTO, Calif., (Aug. 3, 2017) – The California State Teachers’ Retirement System’s Deputy Chief Investment Officer Michelle Cunningham announced her retirement from an investment career spanning 35 years—27 of which have been with CalSTRS.
CalSTRS Reports 13.4 Percent Net Investment Return for FY 16-17
Ongoing emphasis on 30-year investment horizon and progress toward long-term funding plan.
WEST SACRAMENTO, Calif. – July 20, 2017 – The California State Teachers’ Retirement System announced today that the fund posted a 13.4 percent net of fees return for the 2016-17 fiscal year, with growth being driven by strong performance across all markets, led by non-U.S. equity. As of June 30, 2017, the total fund value was $208.7 billion.
CalSTRS Orintheo Swanigan Named in Top 40 Under 40 List
Mr. Swanigan is the fifth Investment Officer from CalSTRS to make the list
WEST SACRAMENTO, Calif. – July 17, 2017 – The California State Teachers’ Retirement System has, for the fifth consecutive year, contributed one of its talented young—under age 40—investment officers, Orintheo Swanigan, to Chief Investment Officer magazine’s Class of 2017 Top Forty Under Forty.
CalSTRS Appoints Diane Stanton as External Affairs Director
WEST SACRAMENTO, Calif. – July 13, 2017 – The California State Teachers’ Retirement System today announced the appointment of Diane Stanton as External Affairs Director. In her new role, Ms. Stanton will provide leadership, management and strategic direction for the CalSTRS External Affairs program, with an emphasis on stakeholder relations, outreach and engagement. Her position reports directly to Public Affairs Executive Officer, Grant Boyken.
CalSTRS Corporate Governance Director Anne Sheehan Elected Chairman of SEC Investor Advisory Committee
Ms. Sheehan has been Acting Chair since April 2017
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s Director of Corporate Governance Anne Sheehan was elected Chairman of the Securities and Exchange Commission’s Investor Advisory Committee today.
Ms. Sheehan was appointed as a member of the IAC when it was created in 2012, followed by her election as vice chairman in June 2015. Since April 2017, after Kurt Schacht left the committee, Ms. Sheehan has been acting chairman. In addition, Ms. Sheehan served as Chairman of the Investor as Owner Subcommittee from 2012 to 2014.
CalSTRS Takes Oppose Position on Financial CHOICE Act
CalSTRS expresses concern about H.R. 10 bill provisions that could reduce SEC oversight and remove critically important investor protections
WEST SACRAMENTO, Calif. – CalSTRS Chief Executive Officer Jack Ehnes issued the following statement reflecting the Teachers’ Retirement Board’s decision to oppose H.R. 10 (Hensarling, R-TX), also known as the Financial CHOICE Act of 2017:
“The Financial CHOICE Act is shrouded in rhetoric about fixing the United States economy and lifting the regulatory burden on our financial institutions. On the contrary, this bill actually aims to unwind important shareholder rights, allows for riskier public companies, and decimates the Securities and Exchange Commission’s ability to protect investors.
CalSTRS Takes Action to Divest of All Non-U.S. Thermal Coal Holdings
Action follows prior divestment of U.S. thermal coal holdings
WEST SACRAMENTO, Calif. – The Teachers’ Retirement Board today announced the decision to divest the fund of all non-U.S. thermal coal holdings, effective July 1, 2017.
The board’s action aligns with CalSTRS’ long-term global perspective and its fiduciary duty, including consideration of environmental risks – both current and those projected over the next 10 to 25+ years. Burning thermal coal as a means of energy production creates such a risk, as a major contributor of greenhouse gases that negatively impact the climate on a global scale.
In Rebuke to Netflix Board, Shareholders Back Proxy Access, Annual Director Elections and Elimination of Supermajority Voting Requirements
WEST SACRAMENTO, Calif.—The California State Teachers’ Retirement System was among the Netflix investors who spoke out today following the entertainment company’s annual meeting, at which shareholders again backed multiple proposals to reform the company’s corporate governance practices.
CalSTRS Persists at Protecting Assets from Environmental Risk Despite President Trump’s Pull Out of Paris Climate Agreement
WEST SACRAMENTO, Calif. – CalSTRS Chief Executive Officer Jack Ehnes issued the following statement in response to President Trump’s decision to withdraw the United States from the Paris Climate Change Agreement:
“For CalSTRS, our primary mission is to maximize returns for the fund in order to safeguard the retirement security for more than 914,000 California educators and their beneficiaries. Over ten years ago, we recognized that climate change presented investment opportunities and risks to the fund and we implemented strategies to address them.
CalSTRS Advances Global Stewardship and Accountability Standards for Long-Term Sustainability
2015—16 GRI sustainability report showcases pension fund’s engagement efforts and risk-mitigation strategies across environmental, social and governance related topics
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today released Global Stewardship at Work, its 2015—16 sustainability report. This is the third year the system published the report, which is based on the Global Reporting Initiative G4 Guidelines.
CalSTRS Upends Wells Fargo Stagecoach with Votes Against Long-Tenured Board Members
WEST SACRAMENTO, Calif. – CalSTRS voted its 11.6 million shares against long-tenured board members John D. Baker II, John S. Chen, Lloyd H. Dean, Enrique Hernandez, Jr., Donald M. James, Cynthia H. Milligan, Federico F. Peña, Stephen W. Sanger, and Susan G. Swenson. These board members failed in their duty to shareholders to identify the weaknesses in the company’s risk and oversight mechanisms.
Governor Announces Appointment to CalSTRS Board
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced that Governor Brown has appointed Karen Yamamoto to the California State Teachers’ Retirement Board. The board oversees the retirement benefits for California’s prekindergarten–12 and community college educators covered under the California State Teachers’ Retirement System (CalSTRS).
Teachers’ Retirement Board Elects Chair and Vice Chair
Dana Dillon will continue to serve as chair; Sharon Hendricks will continue to serve as vice chair
WEST SACRAMENTO, Calif. – The trustees of the California State Teachers’ Retirement System today elected Dana Dillon as board chair and Sharon Hendricks as vice chair for the 2017-18 term.
CalSTRS Releases 2016 Actuarial Valuation
Impacts of investment and longevity assumptions felt; fund still moving toward funding goal
WEST SACRAMENTO, Calif. – The Teachers’ Retirement Board today adopted the actuarial valuation for the CalSTRS Defined Benefit Program as of June 30, 2016, reflecting impacts from assumption changes while also illustrating continued progress toward the system’s long-term funding goals.
CalSTRS Corporate Governance Program Elevated Its Voice on Policy in 2016
2016 annual report highlights success of key initiatives, collaborations and a glimpse into plans for 2017
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today released its 2016 Corporate Governance Annual Report. The report highlights the Corporate Governance staff efforts in, among other issues, regulatory activities, proxy voting and portfolio company engagement.
CalSTRS and Banc of California Collaboration Creates a More Diversified Board
Appointments of two women to previously all male board are a result of collaborative engagement
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today praised Banc of California’s announcement that it has added Mary Allis Curran and Dr. Bonnie Guiton Hill to its board of directors. CalSTRS worked together with investment partners Legion Partners Asset Management, LLC and Banc of California to identify the best board candidates.
CalSTRS Purchases Portfolio’s First Social Bond
Multimillion dollar bond will help women-owned businesses and low-income communities in emerging markets
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced its first social bond purchase, worth $5 million. Bond proceeds will go toward financing women-owned enterprises and projects for low-income communities in emerging markets, while providing competitive returns to the teachers’ fund.
CalSTRS Unveils Redesigned 403bCompare.com Featuring Enhanced User Interface and Robust Product Fee Comparison Database
State legislated website provides tools to navigate thousands of supplemental savings investment options
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced a comprehensive redesign of 403bCompare.com, a free online resource providing tools for visitors to compare hundreds of supplemental savings products available through their employer. The site is available to all certificated and classified employees of California public school and community college districts, county offices of education and charter schools.
CalSTRS Chief Operating Investment Officer Appointed to Advisory Group focused on Public Company Accounting Oversight
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System is celebrating the appointment of its Chief Operating Investment Officer, Debra Smith, to the Public Company Accounting Oversight Board’s Standing Advisory Group. Ms. Smith will represent the investors’ perspective and voice in the advisory group. Her three-year term runs through the end of 2019.
Defined Benefit Pensions Reward California’s Educators
UC Berkeley research shows California educators are better supported by CalSTRS’ Defined Benefit pension versus a 401(k)-style plan. Various other studies focus on teacher tenure data by using only young, new-hire turnover statistics in order to represent the majority of the educator workforce, which is inaccurate and misleading.
CalSTRS Adopts New Economic and Demographic Assumptions and Continues Progress Toward Long-Term Funding Goal
WEST SACRAMENTO, Calif. – Consistent with its commitment to ensuring a financially sound retirement system, the California State Teachers’ Retirement Board today voted to adopt a new set of actuarial assumptions that reflect members’ increasing life expectancies and current economic trends. Today’s decisions were based on the multi-year CalSTRS Experience Analysis, commonly referred to as the experience study, spanning July 1, 2010, through June 30, 2015.
Leading Investors Launch Historic Initiative Focused on U.S. Institutional Investor Stewardship and Corporate Governance
Unveils Framework of Guiding Principles with Expectation of Long-Term Value Creation, Investor Protection
CalSTRS is one of the founders of the Investor Stewardship Group. The ISG is a collective of some of the largest U.S.-based institutional investors and global asset managers, along with several of their international counterparts. It was formed to develop a sustained initiative to establish a framework of basic standards of investment stewardship and corporate governance for U.S. institutional investor and boardroom conduct. The ISG is being led by the senior corporate governance practitioners at institutional investor and investment management firms.
The ISG brings all types of investors together to enable them to speak with one voice on these fundamental issues of corporate governance and investment stewardship.
CalSTRS Awarded Best Place to Work in Money Management for Second Time
Pensions & Investments recognized CalSTRS investment team the first time in 2013
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System announced today that it was named by Pensions & Investments as a Best Place to Work in Money Management for 2016.
The fifth-annual survey and recognition program is dedicated to identifying and recognizing the best employers in the money management industry and is presented by Pensions & Investments, a global news source for money management.
CalSTRS Chief Operating Investment Officer Receives National Coalition of 100 Black Women’s 2016 Leadership in Business Award
Debra Smith lauded for her achievements in addressing gender inequality in business
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System announced today its Chief Operating Investment Officer Debra Smith, has been recognized as this year’s black woman in business leadership by the National Coalition of 100 Black Women’s Sacramento Chapter.
The 2016 Leadership in Business Award recognizes the accomplishments of black women in the financial investment services industry.
CalSTRS Green Bond Program Enters Its Seventh Year
CalSTRS Fixed Income is a leader in the green bond market, more than tripling its holdings over the past two years
WEST SACRAMENTO, Calif. – Seven years after initiating its green bonds program, the California State Teachers’ Retirement System is poised for continued portfolio growth and holdings expansion, as reflected in the 10th annual Green Initiatives Task Force Report released yesterday.
CalSTRS Opens Member Service Center in San Diego
Mission Valley full-service member center is the sixth to open since 2009
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced the opening of its sixth full-service member center. This latest member service center is in San Diego’s Mission Valley Area and is known as the San Diego Rio Vista Tower III.
CalSTRS Chief Investment Officer Honored as an Investor in Education
Christopher J. Ailman receives prestigious recognition from the Neighborhood Youth Association of Los Angeles
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System proudly announced today that its Chief Investment Officer, Christopher J. Ailman, has been recognized as one of this year’s Investors in Education by the Neighborhood Youth Association (NYA) of Los Angeles.
Diverse Director DataSource Joins the Equilar Diversity Network
Database matches candidates and companies to help improve corporate board strength and diversity
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System and the California Public Employees’ Retirement System today announced the Diverse Director DataSource (3D) will now be available through the Equilar Diversity Network.
CalSTRS Seeks Investment Managers With Environmental, Social and Governance Expertise
Up to six additional managers would supplement two existing managers in the ESG space
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System is searching for public equity investment managers with an environmental, social and governance focus. There are up to six new ESG manager spots available for consideration.
CalSTRS Appoints Grant Boyken as Public Affairs Executive Officer
Mr. Boyken will oversee CalSTRS Public Affairs Branch consisting of Communications, External Affairs and Governmental Relations.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced the appointment of Grant Boyken as Public Affairs Executive Officer. The position and the branch are new for CalSTRS, having been established after the retirement of Ed Derman, the former Deputy Chief Executive Officer of the Plan Design and Communication Branch.
CalSTRS Fills New Business Processes and Operations Leadership Post
Jeff Zimmer becomes Director of Benefits and Services Business Transformation
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced Jeff Zimmer as its Director of Benefits and Services Business Transformation. Mr. Zimmer will report to Benefits and Services Executive Officer Andrew Roth and Technology Services Executive Officer Ashish Jain.
CalSTRS Announces New Director of Governmental Relations
Joycelyn Martinez-Wade will oversee CalSTRS’ state and federal legislative programs
WEST SACRAMENTO, Calif. –The California State Teachers’ Retirement System today announced the appointment of Joycelyn Martinez-Wade as Director of Governmental Relations.
CalSTRS Corporate Governance Advances Majority Vote Standard
Uncontested Director Elections Proposals Meet With 100% Success
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System announced today that it waged a highly successful proxy season campaign to advance the majority vote standard in board of director elections at public companies. CalSTRS engaged 106 companies, 94 of which adopted the standard before it went to a vote.
CalSTRS Enhances Corporate Governance Principles with Expanded Board of Directors Accountability Standards
Changes highlight dynamic nature of CalSTRS’ Governance Program through increased corporate board accountability to protect interests of long-term shareholders.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System last Thursday, July 14, approved policy changes to the Corporate Governance Principles which establish the high-level framework, proxy voting activities and shareholder priorities.
CalSTRS Announces Investment Return for Fiscal Year 2015-16
Despite volatility in the equity markets, CalSTRS achieved 1.4 percent net return in total fund performance over past year. Long-term funding plan continues on track.
WEST SACRAMENTO, CALIF. – The California State Teachers’ Retirement System remains on track for full funding by the year 2046 after announcing today that it ended the 2015-16 fiscal year on June 30, 2016 with a 1.4 percent net return. The three-year net return is 7.8 percent, and over five years, 7.7 percent net.
CalSTRS Commits $2.5 Billion to Low-Carbon Index
CalSTRS supports environmental, social and governance (ESG) principles by investing in low-carbon strategies for U.S., non-U.S. developed and emerging markets
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today committed up to $2.5 billion to low-carbon strategies in U.S., non-U.S. developed and emerging equity markets.
The passively managed equity portfolio will be invested in an index designed to have significantly lower exposure to carbon emissions than the broad market and nearly complete reduction in exposure to fossil fuel reserves.
CalSTRS Joins Scores of Institutional Investors in Filing German Securities Litigation Against Volkswagen AG
VW’s purposeful deception in defeating air quality controls on millions of diesel vehicles polluted the environment; and threatens the company’s long-term shareholder value.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System retained the services of the foreign litigation finance group, Bentham Europe, and the international law firm, Quinn Emanuel, which yesterday filed the first of two suits in Germany against Volkswagen AG on behalf of hundreds of institutional funds. The total value of the claims filed yesterday is very significant indeed with shareholders having collectively lost many hundreds of millions of euros, citing the automaker’s admission that it deliberately installed software that misrepresented air quality and emissions information on millions of so-called “clean diesel” vehicles.
CalSTRS Consistent Support of AAAIM Garners the 2016 Founder’s Award
Assoc. of Asian American Investment Managers bestows its highest honor on CalSTRS
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System received the Association of Asian American Investment Managers 2016 Founder’s Award today. The award is a one-time honor being given in celebration of AAAIM’s 10th Anniversary.
CalSTRS Statement on Delaware Court Ruling on Wal-Mart Derivative Suit
WEST SACRAMENTO, Calif. – Today, Chancellor Andre G. Bouchard of the Delaware Court of Chancery issued an Order granting Wal-Mart’s motion to dismiss Plaintiffs’ Complaint in In re Wal-Mart Stores, Inc. Delaware Derivative Litigation. The California State Teachers’ Retirement System, the New York City Retirement Funds, and the Indiana Electrical Workers Pension Trust Fund IBEW are Co-Lead Plaintiffs in the case.
CalSTRS Fosters a Secure Retirement Future via Sustainability Commitment
2014-15 Global Reporting Initiative sustainability report highlights clean energy investments, stakeholder engagement efforts, and sustainable business practices.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced the release of its second annual Global Reporting Initiative sustainability report: Fostering a Secure Future. The report provides an overview of CalSTRS’ sustainable practices and performance, including overviews of stakeholder, employee and member engagement; a description of the alignment between CalSTRS’ values and those of its business partners; and, examples of workforce activities promoting sustainable economic, environmental and social business practices, which guide its long-term strategy.
CalSTRS Governance, Innovation & Risk Leaders Lauded
Institutional Investor Magazine honors CalSTRS Corporate Governance and Innovation & Risk Directors
WEST SACRAMENTO, Calif. – The directors of the California State Teachers’ Retirement System’s Corporate Governance and Innovation & Risk units received awards from Institutional Investor Magazine last night at a Los Angeles awards ceremony.
CalSTRS Simranjit ‘Sunny’ Dhillon Named Top 40 Under 40 All Star
Sunny is the fourth consecutive investment officer to rise and shine for CalSTRS
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced that, for the fourth year in a row, a member of the fund’s investment staff was named to Chief Investment Officer magazine’s influential “Forty Under Forty” list of up-and-coming investment professionals under the age of 40.
CalSTRS Corporate Governance Achieves 97 percent Success Rate in the Adoption of the Majority Vote Standard
Five-year engagement plan demonstrates better alignment of board and shareholder interests.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today released its 2015 Corporate Governance Annual Report highlighting a successful engagement plan, which resulted in 375 companies adopting a majority vote standard.
“In 2010, CalSTRS’ Corporate Governance program implemented an engagement plan focused on 26 smaller cap companies,” said CalSTRS Director of Corporate Governance Anne Sheehan. “And, as a result of the effort, 80 percent of those companies moved from a plurality to a majority vote standard.”
Teachers’ Retirement Board Elects Chair and Vice Chair
Dana Dillon will serve as chair; Sharon Hendricks will serve as vice chair
WEST SACRAMENTO, Calif. – The trustees of the California State Teachers’ Retirement System today elected Dana Dillon as board chair and Sharon Hendricks as vice chair for the 2016-17 term.
CalSTRS Releases 2015 Actuarial Valuation
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today released the actuarial valuation of the Defined Benefit Program as of June 30, 2015, reflecting the importance of adequate funding over the long term.
CalSTRS Names Sandy Blair Retirement Readiness Director
Blair will oversee CalSTRS’ defined contribution plans, member education and outreach efforts
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced the appointment of Sandy Blair to Director of Retirement Readiness. In her new role, Ms. Blair, the director of CalSTRS Defined Contribution Solutions business unit since 2013, will also oversee CalSTRS member benefits education efforts, field benefits operations, and member and employer outreach activities.
CalSTRS Investments Studied for Low-Carbon Economy Opportunities
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System has released the results of a research study by Mercer examining ways to mitigate investment risk and maximize value in the face of our deteriorating global climate. Investing in a Time of Climate Change: California State Teachers’ Retirement System Portfolio Climate Change Risk Assessment seeks to gain better insight into the various investment implications presented by climate change.
CalSTRS Backs the Value of Women in Financial Leadership Roles
“Beyond Talk” networking workshop continues momentum in efforts to advance more women into investment and financial management leadership roles.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System demonstrated its ongoing commitment to “moving the needle” on gender diversity by spearheading the “Beyond Talk: Taking Action to Achieve Gender Balance in the Financial World” networking workshop, along with State Street Global Advisors, on March 8 in San Francisco.
CalSTRS to Engage in German Securities Litigation Against Volkswagen AG
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced plans to participate in a German securities litigation suit against Volkswagen AG, citing the automaker’s admission that it deliberately installed software that misrepresented air quality and emissions information on millions of so-called “clean diesel” vehicles.
CalSTRS Board Member Sharon Hendricks Honored as Advocate of the Year
WEST SACRAMENTO, Calif. – The Faculty Association of California Community Colleges has named Teachers’ Retirement Board Vice-Chair Sharon Hendricks a co-recipient of the John Vasconcellos Advocate of the Year award for 2016. Sharing the honor with Ms. Hendricks is co-recipient Lynn Shaw, an instructor of electrical technology at Long Beach City College.
CalSTRS Endorses ILPA’s Private Equity Fee Reporting Template
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced its endorsement of the Institutional Limited Partners Association’s recently-launched fee reporting template for private equity general partners.
UC Study Shows Most California Teachers Better Off in Defined Benefit Pension than 401(k)
WEST SACRAMENTO, Calif. – A study from University of California, Berkeley shows that for the vast majority of teachers, the California State Teachers’ Retirement System Defined Benefit pension provides a higher, more secure retirement income compared to a 401(k)-style plan.
CalSTRS Divests from U.S. Thermal Coal Companies
WEST SACRAMENTO, Calif. – The Board of the California State Teachers’ Retirement System voted today to divest from U.S. thermal coal companies and to initiate engagement with non-U.S. companies.
Governor Brown Reappoints Tom Unterman and Nora Vargas to CalSTRS Board
WEST SACRAMENTO, Calif. – Governor Edmund G. Brown announced yesterday the reappointment of Tom Unterman and Nora Vargas to the Teachers’ Retirement Board, which oversees the retirement benefits for California’s K-12 and community college educators covered under the California State Teachers’ Retirement System. Both appointments are subject to Senate confirmation.
CalSTRS CEO Jack Ehnes Responds to the Paris Pledge for Action
Institutional investor confident the deployment of capital to market will balance human versus nature needs
WEST SACRAMENTO, Calif. – CalSTRS Chief Executive Officer Jack Ehnes issued the following statement in response to the release of the COP21 Paris 2015: Paris Pledge for Action:
“As a global, institutional investor, CalSTRS was an early adopter of the actions outlined in the Pledge. We were one of the first public pension funds not just to sign the Pledge, but to lend substantive support via the voices and actions of our stakeholder network.
CalSTRS CEO Issues Statement on COP21 Climate Talks
WEST SACRAMENTO, Calif. – CalSTRS Chief Executive Officer, Jack Ehnes issued the following statement on the draft release of the Paris Agreement under the United Nations Framework Convention on Climate Change as part of the Conference of the Parties in Paris, France:
CalSTRS Corporate Governance Releases Proxy Season Summary Report
Staff voted on 77,461 proxy proposals at 7,923 meetings
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s Corporate Governance staff wrapped up this year’s proxy season where the dominant governance issue was proxy access. Proxy access made up more than 28 percent of the governance proposals compared to 6 percent in 2013–14.
CalSTRS is Lead Investor on Energy Productivity Index for Companies Project
Project aims to drive companies to improve energy productivity
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System today announced its involvement with the Energy Productivity Index for Companies, a new project that will establish the first global energy productivity benchmark for listed industrial companies. The project was officially launched today in New York.
CalSTRS Letter to Bank of America Regarding Intent to Vote Against Bylaw Amendment
We are writing today to inform you of our intention to vote against the Board’s amendment to the Bank of America bylaws, which would provide for either an independent Chair or a Lead Independent Director. We have stated many times in previous correspondence that CalSTRS fundamentally supports a leadership structure with an independent Chair. We believe the roles of CEO and Chair of the Board, have inherent conflicts which require the two posts to be separate and independent.
Infrastructure Alliance Partners Announce First Acquisition, Cross-Sound Cable Company
WEST SACRAMENTO, Calif. – The Infrastructure Alliance Partnership among The California State Teachers’ Retirement System (CalSTRS), Dutch pension manager APG, and Argo Infrastructure Partners, today announced it has completed the acquisition of the Cross-Sound Cable, or CSC, transmission line after receiving all regulatory approvals.
CalSTRS Opens Member Service Center in Riverside’s Citrus Tower
Conveniently-located center to deliver an array of services to Inland Empire members
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the opening of its fifth full-service member center in Riverside’s Citrus Tower. Other service centers are located in Santa Clara, Glendale, Irvine and at the CalSTRS headquarters in West Sacramento.
CalSTRS Releases Fiscal Year 2014-15 Investment Returns
Volatile market drove returns below the actuarially assumed 7.5 percent, but majority of long-term performance remains strong.
WEST SACRAMENTO, CALIF. – Investment returns at the California State Teachers’ Retirement System (CalSTRS) came in at 4.8 percent gross for the fiscal-year-end 2014-15, belying stronger long-term performance for the educator fund with $191.4 billion in assets as of June 30, 2015.
CalSTRS Issues Board Composition Best Practices
Fact sheet is blueprint of investor’s ideal high-performing corporate board of directors.
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today issued guidelines for what it considers the composition of a high-performing corporate board of directors.
CalSTRS Explains Sponsorship of Declassification Proposal at the 2015 Perry Ellis Annual Shareholders Meeting
Believes the Perry Ellis board must be held accountable to shareholders annually to address significant long-term underperformance
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) continues to sponsor a shareholder proposal to declassify the board of directors (the board) of Perry Ellis International, Inc. (Perry Ellis or the company) at the company’s upcoming annual shareholders meeting, scheduled for July 17, 2015 (the annual meeting). CalSTRS explains the reasons behind its position.
CalSTRS Votes Against Toyota Proposal to Create Dual-Class Shares
Japan-only dual-class share voting structure benefits select shareholders
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) announced today its decision to vote 4.3 million shares against a proposal at the June 16, 2015, Toyota Motor Corporation annual shareholder meeting that would create a dual-class share voting structure.
CalSTRS Finalizes Divestment from Firearms Manufacturers
WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System’s (CalSTRS) Chief Executive Officer Jack Ehnes, announced today that CalSTRS has consented to Cerberus’ proposal allowing CalSTRS to exit its economic interest in Remington Outdoor, ending a two-year divestment effort.
CalSTRS Statement on the Results of Trian Slate at DuPont Annual Meeting
WEST SACRAMENTO, Calif. – The following statement is attributable to California State Teachers’ Retirement System (CalSTRS) Director of Corporate Governance Anne Sheehan:
“While CalSTRS is disappointed Trian did not prevail in their bid to seat a slate of nominees to the DuPont Board of Directors, we are encouraged by the changes Trian Partners have driven at the company. DuPont has acted on many of Trian’s early recommendations and, as partners with Trian, we are prepared to work from the outside toward long-term growth in collaboration with the board.
CalSTRS Releases Inaugural Sustainability Report, The Next 100 Years
CalSTRS is the first U.S. public pension fund to complete a sustainability report consistent with comprehensive Global Reporting Initiative guidelines
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the release of its 2013–14 Sustainability Report: The Next 100 Years. CalSTRS is the first U.S. public pension fund to complete the rigorous and detailed sustainability reporting guidelines consistent with the Global Reporting Initiative .
CalSTRS Supports Trian Board Slate at DuPont
Candidates are highly qualified and will address lackluster performance
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced it voted its 3.6 million DuPont shares in support of a slate of board candidates proposed by Trian Partners.
CalSTRS Promotes Andrew Roth to Benefits & Services Executive Officer
Mr. Roth will oversee the largest branch at CalSTRS
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the promotion of Andrew Roth to Benefits & Services Executive Officer, Mr. Roth replaces Peggy Plett who will be retiring after 28 years at CalSTRS.
Governor Announces Appointment to CalSTRS Board
WEST SACRAMENTO, Calif. – Governor Brown announced today the appointment of Nora Vargas to the California State Teachers’ Retirement Board. The board oversees the retirement benefits for California’s prekindergarten–12 and community college educators covered under the California State Teachers’ Retirement System (CalSTRS).
CalSTRS Portfolio Manager Makes CIO Magazine’s “40 Under 40” List
Carrie Lo does big things, but keeps a low profile
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Carrie Lo has been named to Chief Investment Officer magazine’s influential “Forty Under Forty” list of up-and-coming investment professionals under the age of 40.
CalSTRS Investment Officer Aeisha Mastagni Elected to CII Board
Mastagni to serve one-year term with Council of Institutional Investors
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced that Corporate Governance Investment Officer Aeisha Mastagni was elected to the board of directors of Council of Institutional Investors (CII).
CalSTRS Board Trustees Elected to Serve Another Four-Year Term
Teachers’ Retirement Board member-representatives will serve through 2019
WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) yesterday announced the election of the three member-representatives to the CalSTRS governing board. The members will each serve a four-year term, which begins January 1, 2016.
CalSTRS Board Updates Corporate Governance Principles on Corporate Board Diversity
Update expands the definition of corporate board diversity to include sexual orientation and gender identification, sought by State Treasurer John Chiang
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Investment Committee today updated their Corporate Governance Principles to expand the definition of board diversity to include sexual orientation and gender identity.
CalSTRS Adopts 2014 Actuarial Valuation
Valuation reflects stabilization of the fund due to healthy investment returns
WEST SACRAMENTO, Calif. – The board of the California State Teachers’ Retirement System (CalSTRS) today adopted the actuarial valuation of the Defined Benefit Program as of June 30, 2014. The gap between current assets and the obligations facing the system—known as the unfunded actuarial obligation, or funding gap—has shrunk slightly to $72.7 billion—a nearly one billion dollar decrease from the previous years’ $73.67 billion.
Teachers’ Retirement Board Re-Elects Chair and Vice Chair
Harry Keiley will remain as chair; Sharon Hendricks will serve again as vice chair
WEST SACRAMENTO, Calif. – The trustees of the California State Teachers’ Retirement System (CalSTRS) yesterday returned Harry Keiley as board chair and Sharon Hendricks as vice chair for the 2015-16 term.
CalSTRS Statement on Cerberus Firearms Divestment
WEST SACRAMENTO, Calif. – CalSTRS shares the frustration and concern of educators who want to see our fund completely divest from firearms.
CalSTRS Awards Multi-Year Pension Administration IT Contract
Enhanced information technology benefits administration platform to be implemented by CGI Technologies and Solutions, Inc.
WEST SACRAMENTO, Calif. – Through an extensive competitive bidding process, the California State Teachers’ Retirement System (CalSTRS) has awarded CGI Technologies and Solutions Inc. a $121 million contract to configure and implement a new information technology system for the administration of CalSTRS benefits.
CalSTRS Board Adopts Updated Corporate Governance Principles
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Investment Committee adoption last week of updated Corporate Governance Principles, sets the stage for an active proxy season in 2015.
Governor Reappoints Paul Rosenstiel to CalSTRS Board
WEST SACRAMENTO, Calif. – Governor Brown announced today the reappointment of Paul Rosenstiel to the Teachers’ Retirement Board, which oversees the retirement benefits for California’s K-12 and community college educators covered under the California State Teachers’ Retirement System (CalSTRS). Mr. Rosenstiel was first appointed to the board in November 2011.
President Signs Into Law Final $15 Million Payment to CalSTRS From Sale of Elk Hills Naval Petroleum Reserve
Proceeds support older retirees’ pension purchasing power
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) received its final $15.6 million payment of compensation from the 1997 sale of the Elk Hills Naval Petroleum Reserve as part of the $1.1 trillion budget appropriation bill signed into law today by the President.
Majority Voting Standard Gains Ground, CalSTRS Corporate Governance Annual Report Shows
The 2nd annual report shows that 92 out of 100 companies engaged adopted majority voting
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Corporate Governance 2014 Annual Report shows its engagement with small-cap companies yielded remarkable progress in the adoption of majority voting standards for the election of corporate directors.
The Corporate Governance 2014 Annual Report reflects four years of work with small-cap companies—those with a capitalization of $2 billion or less—to adopt the majority-vote standard. The standard requires directors to receive a majority of shareholder support to be elected to the board.
CalSTRS Releases 8th Annual Green Initiative Task Force Report
Environmentally-focused strategies nearly triple green bond purchases
WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System’s (CalSTRS) eighth annual Green Initiative Task Force 2014 Annual Report shows an almost 300 percent increase in green bond purchases within the Fixed Income portfolio. This year, the Teachers’ Retirement Board identified sustainable investing as a key, strategic priority, which is reflected in the report and other initiatives.
CalSTRS Mourns the Sudden Passing of Former CEO Jim Mosman
Mr. Mosman leaves a long legacy of state and public service
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Chief Executive Officer Jack Ehnes expressed his sadness at the passing, on Tuesday November 4, of former CalSTRS CEO Jim Mosman in his longtime hometown of Sacramento. Mr. Mosman led CalSTRS for 12 years from 1988 until 2001.
CalSTRS Completes Investment Staff Restructuring
Hiring of a Chief Operating Investment Officer and directors for two asset classes completes investments leadership restructuring
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) announced today the completion of its Investment Branch leadership restructuring with the hiring of its first Chief Operating Investment Officer and two asset class directors.
CalSTRS Statement on the Shareholder Vote at Oracle
Proxy access to nominate board candidates proves elusive
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) issued the following statement about today’s shareholder vote on proxy access at the Oracle Corporation. CalSTRS Director of Corporate Governance Anne Sheehan said:
U.S. Insurance Companies’ Response to Climate Change Impacts Investment Risks
CalSTRS says new report shows more action from the insurance sector is needed
WEST SACRAMENTO, Calif. – A new report from Ceres ranks the nation’s 330 largest insurance companies on their response to climate-related risks and finds a profound lack of preparedness. CalSTRS currently holds $4.3 billion of investments in the insurance sector, which represents 2.4 percent of the overall portfolio. CalSTRS believes that climate-related risks and opportunities can affect the performance of its investments.
CalSTRS and The Thirty Percent Coalition Expand Campaign For More Women on Corporate Boards
The Thirty Percent Coalition is reaching out to Russell 1000 companies lacking women board directors.
WEST SACRAMENTO, Calif. – Institutional investors representing more than $3 trillion in assets under management, along with some of the nation’s leading women’s organizations, sent letters to 100 companies in the Russell 1000 Index that lack women on their boards of directors, urging them to embrace gender diversity.
CalSTRS Receives Institutional Investor’s 2014 Public Pension Plan Award
CalSTRS’ investment performance earned accolades for best large fund
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced it has received top honors for the portfolio’s 2013-14 performance from iiSEARCHES—Institutional Investor’s investment management, sales and marketing data service.
CalSTRS Commits to Increase in Clean Energy and Technology Investments
Effort comes as sign of solidarity for climate change policy
WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System (CalSTRS) Chief Executive Officer Jack Ehnes, announced plans to increase current clean energy and technology investments of $1.4 billion to $3.7 billion over the next five years in an effort to increase low-carbon investments. The move is in response to United Nations Secretary-General Ban Ki-moon’s call for bold action to reduce carbon emissions and build resilience to the impacts of climate change ahead of the United Nations Climate Summit on September 23, 2014.
CalSTRS 2014 Proxy Season Advances Majority Voting Standard
Focus on small cap companies continues to create positive governance changes
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced overwhelming corporate governance success during the 2014 proxy season, as 86 of the 93 companies it engaged adopted a majority voting standard in corporate board elections.
CalSTRS Statement on the Adoption of Creditable Compensation Regulations
Clarifies what can and cannot be credited to the defined benefit pension for hires before January 1, 2013
WEST SACRAMENTO, Calif. – The Teachers’ Retirement Board Thursday adopted regulations clarifying what forms of pay can and cannot be credited to California State Teachers’ Retirement System (CalSTRS) members’ defined benefit pension accounts. The regulations apply to members who were hired before the January 1, 2013 effective date of the California Public Employees’ Pension Reform Act. CalSTRS Deputy Chief Executive Officer Ed Derman issued the following statement.
CalSTRS Gets Rapid Response to Board Diversity Effort
131 California companies with no women on their boards of directors receive offers of help
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS), in collaboration with the California Public Employees’ Retirement System (CalPERS), sent the 131 California companies in their portfolios that lack women directors a letter offering their combined expertise to help diversify their boards.
CalSTRS Names Lisa Blatnick Chief of Administrative Services
Executive position oversees organizational branch for workforce and process improvement
WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System (CalSTRS) today announced the promotion of Lisa Blatnick to Chief of Administrative Services, an executive position focused, in part, on attaining business goals outlined in CalSTRS 2014-15 fiscal year business plan. Ms. Blatnick’s position was effective August 1, 2014.
CalSTRS Reports Second Year of Healthy Investment Returns in 2013-14
Equities fueled second year of double-digit returns
WEST SACRAMENTO, Calif. – Continued growth in the equity market, coupled with a bias to U.S. companies, fed a second year of healthy investment returns at the California State Teachers’ Retirement System (CalSTRS), which closed the 2013-14 fiscal year with an 18.66 percent return on its investments.
CalSTRS Aeisha Mastagni Elected to ICGN Board
Mastagni to serve one-year term with International Corporate Governance Network
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the election of Corporate Governance Investment Officer Aeisha Mastagni to the Board of Directors of the International Corporate Governance Network (ICGN).
CalSTRS Opens Member Service Center in Irvine
The center offers Orange County CalSTRS members a full range of retirement services
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the Monday, June 30, opening of its Irvine Member Service Center. This is the fourth full-service member center, with other service centers in Santa Clara, Glendale and the CalSTRS Headquarters in West Sacramento.
CalSTRS Names Global Equity Director
June Kim will lead CalSTRS largest asset class
WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) announced today the selection of June Kim as the Director of Global Equity, CalSTRS’ largest asset class, valued at more than $100 billion.
New Legislation Stabilizes CalSTRS Funding
AB 1469 bridges CalSTRS funding gap through gradual contribution increases
WEST SACRAMENTO, Calif. – Governor Brown’s signing of Assembly Bill 1469 today, enacted as part of the 2014-15 budget, concludes a decade-long effort to bridge CalSTRS’ nearly $74 billion funding gap.
CalSTRS Commends the Legislature on Passage of AB 1469
Legislature’s actions bring a funding solution for the Defined Benefit Program within reach
WEST SACRAMENTO, Calif. – California State Teachers’ Retirement
System (CalSTRS) Chief Executive Officer Jack Ehnes issued the
following statement in response to the Legislature’s approval
of Assembly
Bill 1469, which provides a long-term funding plan for
CalSTRS: