Michael Sicilia

News release November 14, 2018 Krista Noonan Michael Sicilia

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.

News release October 23, 2018 Michael Sicilia

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.

News release July 20, 2018 Michael Sicilia

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.

News release May 9, 2018 Michael Sicilia

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.

Statement March 8, 2018 Michael Sicilia

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.

News release February 7, 2018 Michael Sicilia

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.

News release January 30, 2018 Michael Sicilia

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.

News release January 18, 2018 Michael Sicilia

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.

News release December 12, 2017 Michael Sicilia

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.

News release November 29, 2017 Michael Sicilia

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.

News release November 21, 2017 Michael Sicilia

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.

News release October 17, 2017 Michael Sicilia

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.

Statement October 9, 2017 Michael Sicilia

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.

Statement October 5, 2017 Michael Sicilia

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).

News release September 18, 2017 Michael Sicilia

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.

News release June 2, 2016 Michael Sicilia

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 10^th Anniversary.

Statement May 13, 2016 Michael Sicilia

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.

News release May 2, 2016 Michael Sicilia

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.

News release April 7, 2016 Michael Sicilia

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.

News release April 7, 2016 Michael Sicilia

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.

News release April 1, 2016 Michael Sicilia

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.

News release March 15, 2016 Michael Sicilia

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.

News release February 29, 2016 Michael Sicilia

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.

News release February 29, 2016 Michael Sicilia

CalSTRS Board Member Sharon Hendricks Honored as Advocate of the Year

News release February 4, 2016 Michael Sicilia

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.

News release January 8, 2016 Michael Sicilia

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.

Statement December 16, 2015 Michael Sicilia

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.

Statement December 10, 2015 Michael Sicilia

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:

News release May 12, 2015 Michael Sicilia

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 .

News release May 7, 2015 Michael Sicilia

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.

News release April 23, 2015 Michael Sicilia

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).

News release April 14, 2015 Michael Sicilia

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.

News release April 2, 2015 Michael Sicilia

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.

News release April 2, 2015 Michael Sicilia

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.

Statement April 1, 2015 Michael Sicilia

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.

News release January 14, 2015 Michael Sicilia

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.

News release July 14, 2014 Michael Sicilia

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.

News release April 16, 2014 Michael Sicilia

CalSTRS Diversifies the Proactive Private Equity Portfolio
Two $100 million commitments to serve emerging and underserved markets

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced the commitment of $200 million to diversify its Private Equity Proactive Portfolio, which reaches small, niche emerging managers including those in underserved domestic markets.

Statement December 13, 2013 Ricardo Duran Michael Sicilia

CalSTRS Statement on Investment in Freedom Group
CalSTRS expresses disappointment at the lack of a sale

WEST SACRAMENTO, Calif. – The leadership at the California State Teachers’ Retirement System (CalSTRS) today expressed its disappointment that gunmaker, Freedom Group, has not been sold as the nation marks the eve of the anniversary of the tragedy at Sandy Hook Elementary School. CalSTRS Chief Investment Officer Christopher J. Ailman issued the following statement:

News release October 24, 2013 Michael Sicilia

Investors Ask Fossil Fuel Companies to Assess How Business Plans Fare in Low-Carbon Future
Coalition of 70 investors worth $3 trillion call on world’s largest oil & gas, coal and electric power companies to assess risks under climate action and ‘business as usual’ scenarios.

WEST SACRAMENTO, CA – A group of 70 global investors managing more than $3 trillion of collective assets today launched the first-ever coordinated effort to spur 45 of the world’s top oil and gas, coal and electric power companies to assess the financial risks that climate change poses to their business plans.

Statement October 17, 2013 Michael Sicilia

CalSTRS Statement on Proposed Pension Reform Act of 2014 Ballot Measure

WEST SACRAMENTO, CA – In response to the proposed Pension Reform Act of 2014 ballot initiative allowing employers to alter the future retirement benefits of current public employees, the California State Teachers’ Retirement System’s Chief Executive Officer Jack Ehnes, issued the following statement.

News release September 11, 2013 Michael Sicilia

New Study Shows CalSTRS’ Retiree Spending Boosts California’s Economy by $11 Billion Annually
Most notably, retiree spending positively impacts rural economies, and is equivalent to the California wine industry.

WEST SACRAMENTO, CA – A new economic impact study released today shows that benefits paid by the California State Teachers’ Retirement System (CalSTRS) to retirees and their beneficiaries statewide generate an $11 billion annual boost into the state’s economy—an amount equivalent to the output of California’s world-renowned wine industry.

News release July 25, 2013 Michael Sicilia

CalSTRS Releases First Annual Corporate Governance Report
Overview of shareholder activism seeks to increase shareholder value over time.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) has released the Corporate Governance 2013 Annual Report, the first such report at CalSTRS.

News release July 15, 2013 Michael Sicilia

CalSTRS Reports Healthy Investment Returns in 2012–13
Steady growth in the global equity markets fueled double-digit returns, but a long-term funding solution is still needed.

WEST SACRAMENTO, CA – Steady growth in the global equity market fueled a 13.8 percent investment return at the California State Teachers’ Retirement System (CalSTRS) to close the 2012–13 fiscal year. However, CalSTRS still faces significant long-term funding challenges.

News release March 7, 2013 Michael Sicilia

Is the U.S. Insurance Industry Prepared for Climate Change?
Analysis of first-ever industry-wide survey finds that only 23 of 184 companies have comprehensive climate change strategies, yet some leaders are emerging.

Ceres proposes recommendations to insurers and regulators to maintain insurability in a warming world.

BOSTON – 2012 was the warmest year on record in the lower 48 states and the second most extreme weather year in United States history. Insurers are increasingly acknowledging that extreme weather has become the new normal, yet a new report from Ceres finds that many in the industry are only just beginning to think about how to address the effects climate change may have on their business – while a small group of companies is leading the way.

Statement January 9, 2013 Michael Sicilia Ricardo Duran

CalSTRS Statement on its Decision to Divest of Certain Firearms Holdings
Investment Committee decides to begin divestment process from assault weapons manufacturers.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) Investment Committee today issued the following statement on its decision to direct staff to begin the process of divestment from firearms companies that manufacture weapons that are illegal in California.

News release September 5, 2012 Michael Sicilia

CalSTRS Responds to State Controller’s Review Addressing Pension Spiking Controls and Processes
CalSTRS Responds to State Controller's Review Addressing Pension Spiking Controls and Processes

WEST SACRAMENTO, CA – CalSTRS CEO Jack Ehnes issued a statement today in response to State Controller John Chiang’s “Pension Controls and Mechanisms” review addressing pension spiking:

“Last year, before the State Controller announced plans for his review, CalSTRS had identified the need to make aggressive changes and upgrades to mitigate pension spiking. This resulted in the creation of a toll-free Pension Abuse Reporting Hotline and a dedicated Compensation Review Unit to investigate suspected pension spiking cases.

News release May 22, 2012 Michael Sicilia

CalSTRS to Vote 5.3 Million Shares Against Entire Wal-Mart Board

WEST SACRAMENTO, CA – Jack Ehnes, chief executive officer of CalSTRS, the California State Teachers’ Retirement System, made the following statement regarding CalSTRS’ intent to vote its 5.3 million shares, worth $313.5 million, at the upcoming shareholder meeting:

“CalSTRS believes former and current Wal-Mart executives and board members breached their fiduciary responsibilities. They did so by failing to respond to indications of a pattern of unethical conduct in the company’s foreign operations.

News release May 4, 2012 Michael Sicilia

CalSTRS Files Suit Against Wal-Mart Officials
Wal-Mart's payment of bribes and internal cover-up at the highest levels prompt legal action in Delaware Court of Chancery

WEST SACRAMENTO, CA – The Teachers’ Retirement Board, the governing body of CalSTRS, today took legal action on behalf of Wal-Mart against current and former Wal-Mart board members. The derivative action lawsuit (PDF – 132 KB) alleges bribery and a subsequent cover-up in the corporation’s Mexico expansion.

News release May 4, 2012 Michael Sicilia

CalSTRS Selects a Private Equity Consultant
Pension Consulting Alliance will provide assessments of the portfolio's performance

WEST SACRAMENTO, CA – The California State Teachers’ Retirement Board, the governing body of CalSTRS, today announced the selection of Pension Consulting Alliance as the private equity consultant to its Investment Committee for the next five years.

PCA will provide independent assessments of the private equity portfolio’s performance.

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