2018 News Releases

2018 News Releases

Overview
News release Ricardo Duran

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.

News release Ricardo Duran

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.

News release Ricardo Duran

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.

News release Ricardo Duran

CalSTRS’ Christopher Ailman Receives Top Honor in aiCIO Magazine’s Power 100 Ranking
2018 is the CalSTRS CIO's sixth year in the rankings

Christopher Ailman

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.

News release 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 Krista Noonan Michelle Mussuto

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.

Rendering of a planned expansion of CalSTRS headquarters

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.

Statement

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.

News release 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 Michelle Mussuto

CalSTRS Hires Julie Underwood as Chief Financial Officer
Ms. Underwood replaces Robin Madsen who retired in March 2018.

Julie Underwood

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.

News release Michelle Mussuto

CalSTRS Hires Scott Chan as Deputy Chief Investment Officer
He replaces CalSTRS inaugural DCIO Michelle Cunningham who retired in December 2017.

Scott Chan

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.

News release Michelle Mussuto

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.

News release Krista Noonan

CalSTRS Releases 2017 Actuarial Valuation
Results reflect reduction in investment assumption to 7.0 percent; CalSTRS continues forward progress toward long-term funding goal.

Jack Ehnes

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.

News release 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 Krista Noonan

CalSTRS Ongoing Engagement with Facebook Focuses on Risk Mitigation

Aeisha Mastagni

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.

Statement Michael Sicilia

CalSTRS Commends Dick’s Sporting Goods

Harry Keiley

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 Michelle Mussuto

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.

Robin Madsen

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.