News Releases

News Releases

Overview

Read all current and past CalSTRS news releases dating to 1998.

News release Michelle Mussuto

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.

June Kim

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.

News release Michelle Mussuto

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

Geraldine Jimenez

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.

News release Michelle Mussuto

CalSTRS Global Equity Director June Kim Named as Aspen Institute Finance Leaders Fellow
Two-year program focuses on connecting finance to society-at-large

June Kim

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.

News release Ricardo Duran

CalSTRS Opens Member Service Center in Fresno
Fresno full-service member center is the eighth to open statewide since 2009

CalSTRS Fresno Member Service Center

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.

News release Michelle Mussuto

CalSTRS Now a Majority Owner in Fairfield Residential
Acquisition consistent with Collaborative Model framework for real estate

Scott Chan

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.

News release Ricardo Duran

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.

News release Michelle Mussuto

CalSTRS Announces its Latest Progress Report Toward Long-Term Sustainability
Fifth annual report showcases advances in pension plan full funding, retirement preparedness and cybersecurity

Jack Ehnes

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.  

News release Michelle Mussuto

CalSTRS Trustee Sharon Hendricks Elected to PRI Board
Principles of Responsible Investment is the world’s leading proponent of responsible investment

Sharon Hendricks

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.

News release Ricardo Duran

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.

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.

News release Michelle Mussuto

CalSTRS Green Initiative Task Force Report Evaluates ESG Risks
Each asset class presents methods used to identify and evaluate environmental risks.

Christopher Ailman

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.

News release Michelle Mussuto

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.

News release 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.

Jack Ehnes

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 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 Michael Sicilia

CalSTRS Chief Investment Officer Receives Lifetime Achievement Award
Christopher J. Ailman is honored by Institutional Investor as a world class money manager

Christopher J. Ailman

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 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 Michelle Mussuto

CalSTRS Earns TRUE Gold Level Zero Waste Certification
Green Business Certification, Inc. impressed with headquarters building waste diversion process

Jack Ehnes

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.

News release Michelle Mussuto

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.

News release Michael Sicilia

CalSTRS CEO Elected President of National Council on Teacher Retirement
Jack Ehnes is the first California leader of the nationwide organization.

Jack Ehnes

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 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.

News release 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.

Statement Michelle Mussuto

CalSTRS Supports S&P Action to Bar Multi-Class Share Companies from Index

Anne Sheehan

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.

News release Krista Noonan

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.

News release Krista Noonan

CalSTRS Appoints Diane Stanton as External Affairs Director

Diane Stanton

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.

News release Michelle Mussuto

CalSTRS Corporate Governance Director Anne Sheehan Elected Chairman of SEC Investor Advisory Committee
Ms. Sheehan has been Acting Chair since April 2017

Anne Sheehan

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.

Statement Ricardo Duran

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.

News release Ricardo Duran

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.

Statement Michelle Mussuto

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.

News release Ricardo Duran

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.

Statement Michelle Mussuto

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.

News release Ricardo Duran

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.

News release Michelle Mussuto

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.

News release Michelle Mussuto

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.

News release Ricardo Duran

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.

News release Michelle Mussuto

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.

News release Michelle Mussuto

CalSTRS Chief Operating Investment Officer Appointed to Advisory Group focused on Public Company Accounting Oversight

Debra Smith

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.

Statement

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.

News release Ricardo Duran

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.

News release Michelle Mussuto

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.

News release Ricardo Duran

CalSTRS Awarded Best Place to Work in Money Management for Second Time
Pensions & Investments recognized CalSTRS investment team the first time in 2013

Christopher Ailman

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.

News release Michelle Mussuto

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

Debra Smith

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.

News release Ricardo Duran

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.

News release Ricardo Duran

CalSTRS Chief Investment Officer Honored as an Investor in Education
Christopher J. Ailman receives prestigious recognition from the Neighborhood Youth Association of Los Angeles

Christopher J. Ailman

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.

News release Ricardo Duran

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.

Grant Boyken

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.

News release Ricardo Duran

CalSTRS Fills New Business Processes and Operations Leadership Post
Jeff Zimmer becomes Director of Benefits and Services Business Transformation

Jeff Zimmer

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.

News release Ricardo Duran

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.

News release Krista Noonan

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.

News release Ricardo Duran

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.

News release Ricardo Duran

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.

Statement 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 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 Ricardo Duran

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.

News release Ricardo Duran

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.”

News release 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 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 Ricardo Duran

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.

News release Ricardo Duran

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.

News release 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 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 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. 

News release Ricardo Duran

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.

News release Ricardo Duran

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. 

Letter Ricardo Duran

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. 

News release Ricardo Duran

CalSTRS Opens Member Service Center in Riverside’s Citrus Tower
Conveniently-located center to deliver an array of services to Inland Empire members

Riverside Member Service Center

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.

News release Ricardo Duran

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.

News release Ricardo Duran

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.

News release Ricardo Duran

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.

Statement Ricardo Duran

CalSTRS Statement on the Results of Trian Slate at DuPont Annual Meeting

Anne Sheehan

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.

News release 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 Ricardo Duran

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.

News release 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 Krista Noonan

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.

News release 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 Ricardo Duran

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.

News release Ricardo Duran

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.

News release Gretchen Zeagler

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.

News release Gretchen Zeagler

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.

News release Ricardo Duran Charlotte Laurent-Ottomane

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.

News release Gretchen Zeagler

CalSTRS Commits to Increase in Clean Energy and Technology Investments
Effort comes as sign of solidarity for climate change policy

Jack Ehnes

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. 

Statement Ricardo Duran

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.

News release Ricardo Duran

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.

News release Ricardo Duran

CalSTRS Names Lisa Blatnick Chief of Administrative Services
Executive position oversees organizational branch for workforce and process improvement

Lisa Blatnick

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.

News release Ricardo Duran

CalSTRS Opens Member Service Center in Irvine
The center offers Orange County CalSTRS members a full range of retirement services

Irvine Member Service Center building

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. 

News release Ricardo Duran

CalSTRS Investment Officer Josh Diedesch Has a Banner Year
The Davis resident and UC Davis graduate is honored twice

Josh Diedesch

WEST SACRAMENTO, Calif. – One thing Josh Diedesch can say about his young career at the California State Teachers’ Retirement System (CalSTRS) – things happened quickly. Whether it’s exposure to a wide variety of investment tasks, getting a front-row seat to the global financial crisis and its aftermath, or getting noticed, he has had little time to react.

News release Ricardo Duran

CalSTRS Headquarters Wins Outstanding Building of the Year
Building now enters international competition scheduled for June

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System (CalSTRS) today announced that its West Sacramento headquarters building received The Outstanding Building of the Year (TOBY) Award in the ‘Corporate Facility’ class for the Pacific Southwest region. CalSTRS won the regional award over entries from Greater Phoenix, Nevada, Hawaii and other commercial buildings in California.

News release 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 Gretchen Zeagler

Statement on Joint Committee Hearing to Address CalSTRS Funding Needs
Annual Benefit Adjustment offers comparable offset to member contribution increase

WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System (CalSTRS) Chief Executive Officer Jack Ehnes issued the following statement on the joint informational hearing of the Assembly Committee on Public Employees, Retirement and Social Security and the Senate Committee on Public Employment and Retirement held April 9, 2014.

News release Gretchen Zeagler

CalSTRS Adopts 2013 Actuarial Valuation
Valuation reflects smaller than expected drop in funding from previous year

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, 2013. The gap between current assets and the obligations facing the system—known as the unfunded actuarial obligation, or funding gap—has grown to $73.7 billion.

Statement Gretchen Zeagler

Statement on Joint Committee Hearing to Address CalSTRS Funding Needs
Earlier Action Reduces Overall Costs

WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System (CalSTRS) Chief Executive Officer Jack Ehnes issued the following statement on the joint informational hearing of the Assembly Committee on Public Employees, Retirement and Social Security and the Senate Committee on Public Employment and Retirement held March 19, 2014.

Statement Ricardo Duran

CalSTRS Expresses Sorrow at the Passing of CalPERS CIO Joe Dear
Mr. Dear’s passing leaves sadness at both public pension funds.

WEST SACRAMENTO, Calif. – The California State Teachers’ Retirement System’s (CalSTRS) Chief Investment Officer Christopher J. Ailman expressed his sadness at the news of the February 26 passing of an esteemed colleague, Joseph A. Dear, Chief Investment Officer of the California Public Employees’ Retirement System. Mr. Ailman issued the following statement.

Statement Gretchen Zeagler

CalSTRS Statement on Assembly Public Employees, Retirement and Social Security Committee Hearing
First hearing addressing the CalSTRS long-term funding needs

WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System (CalSTRS) Chief Executive Officer Jack Ehnes and Deputy Chief Executive Officer Ed Derman testified before the Assembly Public Employees, Retirement and Social Security Committee hearing,  “Addressing the CalSTRS Long-Term Funding Needs: An Update of the SCR 105 Report.” The February 19 hearing marks the first in a series to assist legislative development of a funding policy to resolve the $71 billion CalSTRS funding shortfall.

Statement Gretchen Zeagler

CalSTRS Welcomes Swift Legislative Action to Bridge $71 Billion Funding Gap
Legislature signals constructive recognition of the need to stabilize CalSTRS funding

WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System (CalSTRS) Chief Executive Officer Jack Ehnes issued the following statement on the Legislature’s announcement of a plan to move forward with legislation, to be amended in Assembly Bill 611, to close the $71 billion CalSTRS funding shortfall.

Statement Gretchen Zeagler

CalSTRS Encouraged by Administration’s Commitment to a Funding Plan

WEST SACRAMENTO, Calif. – California State Teachers’ Retirement System (CalSTRS) Chief Executive  Officer Jack Ehnes issued the following statement on the Administration’s commitment to a formal funding solution to close the $71 billion CalSTRS funding shortfall:

“Although no specific amount for CalSTRS funding was included in the proposed 2014-15 State Budget, language that commits the Administration to work with all parties toward a funding plan within 30 years brings promise that its adoption is on the horizon.

News release Ricardo Duran

New State Law Allows Online-Only CalSTRS Annual Member Statements As of January 2014
Retirement Progress Reports go paperless, members must request a paper version, if desired.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced that, effective January 1, 2014, CalSTRS Retirement Progress Reports (RPR) will be available exclusively online, unless a paper version is requested. The change is enacted under Assembly Bill 989.

Statement 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 Ricardo Duran

CalSTRS Among Best Places to Work In Money Management, Pensions & Investments Magazine Says
CalSTRS is the first pension fund to make the list.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) is the first pension plan to be named to Pensions & Investments magazine’s “Best Places to Work In Money Management” list, the publication announced this week.

Inclusion on the list places CalSTRS, the only public entity on the list, among just 25 companies nationwide to make the list.

News release Ricardo Duran

CalSTRS Christopher Ailman Named #3 of Top Power 100 CIOs, Globally
The accolade reflects on his leadership of world-class investment staff.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced that Chief Investment Officer, Christopher Ailman received the number three spot in aiCIO magazine’s 2013 Chief Investment Officer Power 100. The list ranks and profiles the 100 most influential and powerful asset owners in the world.

News release 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.

News release Ricardo Duran

CalSTRS 2013 Proxy Season Advances Majority Voting Standard
Focus on small cap companies proves to be the right move.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today announced overwhelming corporate governance success during the 2013 proxy season, as 77 of the 82 companies engaged adopted a majority vote standard in corporate board elections.

News release Ricardo Duran

CalSTRS Names Ashish Jain as New Chief Technology Officer
Mr. Jain will oversee Information Technology architecture, infrastructure and operations.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today the appointment of Ashish Jain as Chief Technology Officer over Information Technology Architecture, Infrastructure and Operations, effective September 16, 2013.

News release 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 Ricardo Duran

CalSTRS Decides on New Asset Allocation Mix
Investment Committee diversifies the portfolio by shifting allocation targets from global equity to inflation-linked assets.

WEST SACRAMENTO, CA. – The California State Teachers’ Retirement System (CalSTRS) Investment Committee today voted to make a subtle shift in the long-term asset allocation targets of its $170 billion investment portfolio. The decision caps an exhaustive year-long asset and liability study, which examined the risk and return profiles affecting the investment portfolio.

News release Ricardo Duran

CalSTRS and Relational Commend Timken Spinoff Plan
The plan respects the will of a majority of shareholders to split into separate steel and bearings businesses.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) and Relational Investors LLC (Relational) commended The Timken Company’s plan, announced today, to spin off its steel division into a separately traded public company.

News release Ricardo Duran

CalSTRS Chief Investment Officer Supports Proposed SEC Rules Change
The change would require financial representatives to clearly state they are acting solely for the benefit of their clients.

WEST SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) announced today its support for proposed Securities and Exchange Commission (SEC) rules requiring financial representatives to act solely for the benefit of their clients when offering defined contribution investment options. The proposed standard is known as the fiduciary standard.

News release 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.