Statement | Karen Doron
WEST SACRAMENTO, Calif. (March 3, 2023) – Teachers’ Retirement Board Chair Harry Keiley issued the following statement today commemorating Allan Emkin’s nearly 40 years of service as a consultant to the California State Teachers’ Retirement System.
“I am tremendously grateful and appreciative of Allan Emkin’s dedication and commitment to CalSTRS. He has contributed greatly to the stability and success of the CalSTRS Investment Portfolio.
CalSTRS was one of Mr. Emkin’s first clients when he formed his own firm in 1987, when the fund was less than $14 billion. Mr. Emkin has continuously served the CalSTRS Investment Committee for almost 40 years. During that time the fund has grown 23 times larger, to a peak of more than $325 billion and an annualized return of nearly 8.5% per annum.”
Emkin is the managing principal/consultant for Meketa Investment Group, an independent investment and advisory firm. He started serving as the CalSTRS general investment consultant with Wilshire Associates shortly after CalSTRS became independent in 1984.
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CalSTRS provides a secure retirement to more than 1 million members and beneficiaries whose CalSTRS-covered service is not eligible for Social Security participation. On average, members who retired in 2021–22 had 25 years of service and a monthly benefit of $4,809. Established in 1913, CalSTRS is the largest educator-only pension fund in the world with $311.5 billion in assets under management as of January 31, 2023. CalSTRS demonstrates its strong commitment to long-term corporate sustainability principles in its annual Sustainability Report. For more information, visit CalSTRS.com.