News release | Thomas Lawrence
WEST SACRAMENTO, Calif. (May 9, 2022) – At the Teachers’ Retirement Board meeting on May 4, the trustees of the California State Teachers’ Retirement System (CalSTRS) reelected Harry M. Keiley as chair and Sharon Hendricks as vice chair of the board for the fiscal year 2022–23 term.
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 CalSTRS, the largest educator-only pension fund in the world.
This is the third consecutive year Keiley and Hendricks are serving as chair and vice chair. In the 2019–20 term, Hendricks was chair and Keiley was vice chair.
“I want to thank the board for its confidence,” Keiley said. “It is an honor to be of service to our members, and I’m humbled by the responsibility. I also couldn’t ask for a better vice chair. Sharon is terrific—we’re aligned on so many issues, and we’ve developed a great friendship and partnership over the past few years.”
Keiley is a high school teacher with the Santa Monica-Malibu Unified School District and was elected to the Teachers’ Retirement Board in 2007. He has served as president of the Santa Monica-Malibu Classroom Teachers Association and chair of the California Teachers Association Political Action Committee.
Hendricks is a communications studies instructor with the Los Angeles Community College District and was elected to the Teachers’ Retirement Board in 2011. She also serves on the board of the Principles for Responsible Investing (UNPRI) – a global organization focused on incorporating environmental, social and governance (ESG) factors in investment decisions and active ownership.
“I am grateful to my peers for electing me to continue to lead as vice chair of this board,” Hendricks said. “We’ve remained strong through these difficult times because of our board’s resilience and unwavering focus on securing the financial future of our members, the educators of the state of California.”
New assignments for individual board committees, which includes the Audits and Risk Management, Appeals, Board Governance, Benefits and Services, and Investment committees, will be announced at the July 7–8, 2022, board meeting.
CalSTRS provides a secure retirement to more than 980,000 members and beneficiaries whose CalSTRS-covered service is not eligible for Social Security participation. On average, members who retired in 2020–21 had 25 years of service and a monthly benefit of $4,813. Established in 1913, CalSTRS is the largest educator-only pension fund in the world with $323.6 billion in assets under management as of March 31, 2022. CalSTRS demonstrates its strong commitment to long-term corporate sustainability principles in its annual Sustainability Report. For more information, visit CalSTRS.com.