CalSTRS

CalSTRS members, as of June 30, 2019, included employees of approximately 1,778 employers:{{cite web | title = Comprehensive Annual Financial Report | publisher = CalSTRS | url = https://www.calstrs.com/comprehensive-annual-financial-report | access-date = November 20, 2020}}

• School districts
• Community college districts
• County offices of education
• Regional occupational programs

The Teachers' Retirement Fund is a special trust fund established by law that holds the assets of the following programs:

• Defined Benefit
• Defined Benefit Supplement
• Cash Balance Benefit

The assets come from contributions by members, employing school districts, investment earnings and appropriations from the State of California's General Fund. The fund's investments create a stream of income to add to those assets.

The CalSTRS investment portfolio includes companies' shares, bonds, real estate and short-term investments.

As of June 30, 2022, CalSTRS managed a portfolio worth approximately $348 billion and held approximately $48 billion of liabilities, leaving a net pension position of $300 billion at that date.{{cite web|title=CalSTRS Annual Comprehensive Financial Report 2022|url=https://www.calstrs.com/files/621ec3ae1/ACFR2021-22.pdf| accessdate=2023-11-25}}

The Teachers' Retirement Board is responsible for maintaining the Teachers' Retirement Fund in order to pay benefits to CalSTRS members and their survivors.

The Teachers' Retirement Board sets policies, makes rules for and administers CalSTRS. The Board is also responsible for ensuring benefits are paid by the system in accordance with law.

The 12-member Teachers' Retirement Board is made up of:California Education Code § 22200

• Three member-elected positions representing current educators
• Five members appointed by the Governor of California and confirmed by the California Senate
• A retired CalSTRS member
• Three public representatives
• A school board representative
• Four ex officio members:
• Director of Finance
• State Controller
• State Superintendent of Public Instruction
• State Treasurer

In February 2002, the board appointed Jack Ehnes as chief executive officer of CalSTRS to administer the system consistent with the board's policies and rules. The board also selected a chief investment officer, (CIO) Christopher J. Ailman, to direct the investments of the Teachers' Retirement Fund in accordance with board policy.

In June 2021, Ehnes retired from the position, and chief operating officer Cassandra Lichnock filled the position.

Two advisory committees meet regularly to provide forums for active participation in the formation of CalSTRS policies and procedures. The Employer Advisory Committee is composed of county and district employer representatives and CalSTRS staff and meets quarterly, and the Client Advisory Committee includes CalSTRS staff and members from various organizations representing CalSTRS members and benefit recipients and meets regularly coinciding with Board meeting dates.

The board has supported a variety of corporate governance initiatives and actions aimed at keeping the fund stable. A few of the actions taken include:{{cite web | title = Corporate Governance Overview | publisher = CalSTRS | url = http://www.calstrs.com/corporate-governance-overview | access-date = September 13, 2013}}

• Support of the Sarbanes-Oxley Act of 2002 that brings dramatic new standards to the corporate boardrooms and accounting profession.{{cite letter|first=Jack |last=Ehnes |recipient=Jonathan Katz, Secretary of SEC |subject=RE: File No. S7-10-03 |date=June 4, 2003 |url=http://www.calstrs.com/investments/ProxyAccessRule060403.pdf |accessdate=September 13, 2013 |url-status=dead |archiveurl=https://web.archive.org/web/20120821011214/http://www.calstrs.com/investments/ProxyAccessRule060403.pdf |archivedate=August 21, 2012 }}
• Encouragement of the SEC's efforts to adopt tough regulations to rein in lax business practices
• Discussions with individual corporate leaders to express CalSTRS interest in good corporate governance practices.{{Cite news | title=CalSTRS Pushes for Executive Pay Policies | newspaper=Compliance Week | date=May 6, 2009 | url=http://www.complianceweek.com/blog/aguilar/2009/05/06/calstrs-pushes-for-executive-pay-policies/ | access-date=June 12, 2009 | archive-url=https://archive.today/20120722115226/http://www.complianceweek.com/blog/aguilar/2009/05/06/calstrs-pushes-for-executive-pay-policies/ | archive-date=July 22, 2012 | url-status=dead }}
• Litigation to pursue both financial remedies for the system as well as governance reforms

On May 28, 2009, CalSTRS announced that individual proxy votes will be {{usurped|1=[https://web.archive.org/web/20110727190112/http://proxydemocracy.org/data/funds/114/meetings publicly available]}} online through a partnership with {{usurped|1=[https://web.archive.org/web/20090324075522/http://proxydemocracy.org/ ProxyDemocracy.org]}}, a nonprofit organization that offers free online investment information about portfolio companies.{{cite press release | title = CalSTRS Improves Proxy Vote Transparency | publisher = CalSTRS | date = May 28, 2009 | url = http://www.calstrs.com/news-release/calstrs-improves-proxy-vote-transparency | access-date = September 13, 2013}}{{Cite news | last=Burr | first=Barry B. | title=CalSTRS to disclose proxy votes in advance | newspaper=Pensions & Investments | date=May 28, 2009 | url=http://www.pionline.com/article/20090528/REG/905289971 | access-date=June 12, 2009 }}

Like other large pension plans, CalSTRS had previously announced its proxy-vote intentions on selective companies. The addition of online disclosure opens the process to all CalSTRS portfolio companies, allowing other shareholders to know how the pension fund will vote.

As of May 2009, CalSTRS held stock in over 3,800 North American companies.

After the December 14, 2012 Sandy Hook Elementary School shooting, California's treasurer, Bill Lockyer, considered ordering CalSTRS to eliminate investments in gun manufacturers.{{Cite news | last=Hsu | first=Tiffany | title=Gun company's shares are in line of fire | newspaper=Los Angeles Times | date=December 17, 2012 | url=https://www.latimes.com/business/la-xpm-2012-dec-17-la-fi-gun-shares-20121218-story.html | access-date=September 13, 2013 }} On January 9, 2013, the Teachers' Retirement Board Investment Committee directed staff to "begin the process of divestment from firearm companies that manufacture weapons that are illegal in California," and CalSTRS divested from Sturm Ruger and the American Outdoor Brands Corporation, (formerly Smith & Wesson).{{cite press release | title = CalSTRS Statement on its Decision to Divest of Certain Firearms Holdings | publisher = CalSTRS | date = January 9, 2013 | url = http://www.calstrs.com/Newsroom/2013/news010913.aspx | access-date = January 14, 2013}}{{cite news |agency=NPR |title=Pension Funds Under Pressure To Sell Off Investments In Gun-Makers |date=February 26, 2018 |access-date=April 2, 2019 |work=All Things Considered |first=Yuki |last=Noguchi |url=https://www.npr.org/2018/02/26/588810413/pension-funds-under-pressure-to-sell-off-investments-in-gun-makers}}

In January 2018, CalSTRS issued a public letter to Apple Inc. alongside JANA Partners, LLC called "Think Differently About Kids". The letter encouraged Apple to find new ways to limit the effects of smartphone use on children.{{Cite news|url=https://www.wsj.com/articles/iphones-and-children-are-a-toxic-pair-say-two-big-apple-investors-1515358834|title=iPhones and Children Are a Toxic Pair, Say Two Big Apple Investors|last=Benoit|first=David|date=2018-01-08|work=Wall Street Journal|access-date=2018-05-22|language=en-US|issn=0099-9660}}

CalSTRS is among the signatories of the "Principles for a Responsible Civilian Firearms Industry," which seeks to engage firearms manufacturers, dealers, and retailers in promoting gun safety.{{cite news |title=Funds managing $4.8 trillion press the firearm industry to accept new principles on gun safety |date=November 14, 2018 |access-date=April 2, 2019 |first=Liz |last=Moyer |agency=CNBC |url=https://www.cnbc.com/2018/11/14/big-money-managers-press-firearm-industry-to-accept-principles-on-gun-safety.html}}{{cite news |title=$5 Trillion Investor Coalition to Pressure Gun Companies on Safety Measures |first=Alicia |last=McElhaney |date=November 14, 2018 |access-date=April 2, 2019 |magazine=Institutional Investor |url=https://www.institutionalinvestor.com/article/b1btpg247ty6c5/5-Trillion-Investor-Coalition-to-Pressure-Gun-Companies-on-Safety-Measures}}{{cite web |title=Principles for a Responsible Civilian Firearms Industry |date=December 6, 2018 |access-date=April 2, 2019 |first1=Christianna |last1=Wood |first2=Christopher |last2=Ailman |first3=John |last3=O’Hara |first4=Michael |last4=McCauley |first5=Peter |last5=Reali |first6=Rakhi |last6=Kumar |publisher=Harvard Law School |url=https://corpgov.law.harvard.edu/2018/12/06/principles-for-a-responsible-civilian-firearms-industry/}}

Since the mid-2010s, activists have increasingly called for CalSTRS to cut financial ties with fossil fuel companies.{{Cite web |date=2022-03-21 |title=Young Oakland climate activists want fossil fuels out of the teachers' pension fund |url=https://oaklandside.org/2022/03/21/oakland-youth-climate-activists-want-californias-massive-teachers-pension-system-to-divest-from-fossil-fuels/ |access-date=2022-05-27 |website=The Oaklandside |language=en-US}}{{Citation |last=Reinders |first=Sienna |title=Students protest CalSTRS' investment in fossil fuels |url=https://scotscoop.com/students-protest-calstrs-investment-in-fossil-fuels/ |access-date=2022-05-27}}{{Cite web |date=2020-02-02 |title=Youth Activists Call on California State Teachers Retirement System to End 'Toxic Relationship' With Fossil Fuel Companies |url=https://www.ecowatch.com/youth-activists-calstrs-2645003302.html |access-date=2022-05-27 |website=EcoWatch |language=en-US}}{{Cite news |last=Venteicher |first=Wes |date=February 20, 2022 |title=State Senate proposal would force CalPERS, CalSTRS to sell oil and gas holdings |work=The Sacramento Bee |url=https://www.sacbee.com/news/politics-government/the-state-worker/article258526203.html |access-date=May 27, 2022}}{{Cite news |last=Sheeler |first=Andrew |date=January 30, 2020 |title=Teens drench themselves in fake oil in climate change protest at California pension fund |work=The Sacramento Bee |url=https://www.sacbee.com/news/politics-government/capitol-alert/article239806898.html |access-date=May 27, 2022}} In 2015, Kevin de León introduced CalSTRS and CalPERS coal divestment legislation and the California Democratic Party passed a resolution in support of fossil fuel divestment.{{Cite web |date=2015-02-11 |title=California calls on pension funds to divest from coal in climate change push |url=http://www.theguardian.com/us-news/2015/feb/10/california-pension-funds-coal-divestment-call-climate-change |access-date=2022-05-27 |website=the Guardian |language=en}}{{Cite web |last=Hirji |first=Zahra |date=2015-05-22 |title=California Democrats Approve Sweeping Fossil Fuel Divestment Resolution |url=https://insideclimatenews.org/news/22052015/california-democrats-approve-sweeping-fossil-fuel-divestment-resolution/ |access-date=2022-05-27 |website=Inside Climate News |language=en-US}} Kevin de León's bill passed and CalSTRS was required to sell all holdings in companies that received at least 50% of their revenue from thermal coal.{{Cite web |last=Starkman |first=Dean |date=2015-10-19 |title=CalPERS set to divest from thermal-coal companies |url=https://www.latimes.com/business/la-fi-calpers-divest-20151019-story.html |access-date=2022-05-31 |website=Los Angeles Times |language=en-US}} State Senator Lena Gonzalez introduced broader fossil fuel divestment legislation in February 2022.{{Cite web |title=State Senator Lena Gonzalez Introduces Fossil Fuel Divestment Bill in CA Legislature |url=https://www.dailykos.com/story/2022/2/17/2080895/-State-Senator-Lena-Gonzalez-Introduces-Fossil-Fuel-Divestment-Bill-in-CA-Legislature |access-date=2022-05-27 |website=Daily Kos}}{{Cite web |date=2022-02-23 |title=Senator Lena Gonzalez Announces Fossil Fuel Divestment Bill to Advance California Climate Goals |url=https://sd33.senate.ca.gov/news/2022-02-17-senator-lena-gonzalez-announces-fossil-fuel-divestment-bill-advance-california |access-date=2022-05-27 |website=Senator Lena A. Gonzalez |language=en}}{{Cite web |title=Proposed Bill Would Require CalPERS, CalSTRS to Divest Fossil Fuels {{!}} Chief Investment Officer |url=https://www.ai-cio.com/news/proposed-bill-would-require-calpers-calstrs-to-divest-fossil-fuels/ |access-date=2022-05-27 |website=www.ai-cio.com}} The CalSTRS board opposed this legislation.{{Cite web |date=2022-03-04 |title=CalSTRS' board opposes state bill to divest from fossil fuels |url=https://www.pionline.com/esg/calstrs-board-opposes-state-bill-divest-fossil-fuels |access-date=2022-05-27 |website=Pensions & Investments |language=en}} It passed the California State Senate but was halted in the assembly by Jim Cooper.{{Cite web |date=2022-05-27 |title=Fossil fuel divestment bill passes California Senate |url=https://www.financialstandard.com.au/news/fossil-fuel-divestment-bill-passes-california-senate-179795285 |access-date=2022-05-27 |website=Financial Standard |language=en}}{{Cite web |date=2022-06-21 |title=California bill requiring CalPERS, CalSTRS to divest halted by committee chair |url=https://www.pionline.com/esg/california-bill-requiring-calpers-calstrs-divest-halted-committee-chair |access-date=2022-07-03 |website=Pensions & Investments |language=en}}{{Cite web |title='Moral Failure': California Dem Pulls Plug on Fossil Fuel Divestment Legislation |url=https://www.commondreams.org/news/2022/06/21/moral-failure-california-dem-pulls-plug-fossil-fuel-divestment-legislation |access-date=2022-07-03 |website=Common Dreams |language=en}} As of 2022, CalSTRS has about $4.1 billion invested in oil and gas companies.

Image:Calstrsheadquarters.jpg]]

Opened in June 2009, the CalSTRS headquarters building in West Sacramento is expected to meet members' needs through 2049. Growth in membership, the difference and complexity of the needs of a new generation of retiring teachers, and the need to operate more efficiently and sustainably led to the decision to build a new headquarters. The building, a $266 million, 13-story office tower above two levels of public space,{{cite web | url =http://www.calstrs.com/About%20CalSTRS/HQInfoCenter/building_facts.pdf | title = CalSTRS Headquarters Facts | publisher = CalSTRS | archive-url = https://web.archive.org/web/20120821011218/http://www.calstrs.com/About%20CalSTRS/HQInfoCenter/building_facts.pdf | archive-date = August 21, 2012 | access-date = September 13, 2013}} is part of the Sacramento Riverfront Master Plan.

The headquarters was designed to meet the Gold certification LEED designation set by the U.S. Green Building Council.{{cite web | title = New Headquarters Project | publisher = CalSTRS | archive-url= https://web.archive.org/web/20080727023533/http://www.calstrs.com/About%20CalSTRS/HQInfoCenter/index.aspx | archive-date=July 27, 2008 | url = http://www.calstrs.com/About%20CalSTRS/HQInfoCenter/index.aspx | access-date = September 13, 2013}} Its construction was done by numerous Local Unions and with the aid of Architectural Glass and Aluminum which served as the Glazing Contractor on the project.DC16 The Pride, [http://www.dc16iupat.org/ULWSiteResources/iupatdc16/Resources/file/The%20Pride/The%20Pride%20Feb-April%202009%20In-Design.pdf "CalSTRS Goes for Gold By Building Green "] {{Webarchive|url=https://web.archive.org/web/20160105143705/http://www.dc16iupat.org/ULWSiteResources/iupatdc16/Resources/file/The%20Pride/The%20Pride%20Feb-April%202009%20In-Design.pdf |date=2016-01-05 }}, DC16 The Pride, page 10, Feb 2009 It is expected that construction of the CalSTRS headquarters will add momentum to former California Governor Arnold Schwarzenegger's push for "green" buildings and speed up a similar movement in private construction. A few of the features{{Cite news| last=Ortiz | first=Jon | title=CalSTRS' new building goes for 'green' gold | newspaper=The Sacramento Bee | date=July 13, 2008 | url=http://www.sacbee.com/business/story/1077658.html | access-date=June 12, 2009 }} {{Dead link|date=October 2010|bot=H3llBot}} designed into the building to qualify for LEED Gold certification are:

• Water: low-flow plumbing, efficient irrigation to water native plants that don't need a lot of water.
• Materials: At least 10 percent of construction materials include recycled content.
• Reduced construction greenhouse gas emissions: At least 20 percent of construction materials come from within {{convert|500|mi|km}} of the project site.
• Natural light: At least 90 percent of people in the building have a direct line of sight to a window to reduce lighting needs and attempt to increase productivity.

In October 2011, the building received USGBC's Platinum certification in Existing Building and Operations Maintenance.{{cite press release | title = CalSTRS Headquarters Achieves Platinum Certification for Leadership in Energy and Environmental Design | publisher = CalSTRS | url = http://www.calstrs.com/news-release/calstrs-headquarters-achieves-platinum-certification-leadership-energy-and | access-date = September 13, 2013}}

• California Public Employees' Retirement System (CalPERS)

{{reflist}}

{{commons category|CalSTRS Building}}

• {{Official website|http://www.calstrs.com/}}
• [https://govt.westlaw.com/calregs/Browse/Home/California/CaliforniaCodeofRegulations?guid=I4C189510D48211DEBC02831C6D6C108E Teachers' Retirement System] in the California Code of Regulations
• {{usurped|1=[https://web.archive.org/web/20100106171305/http://www.proxydemocracy.org/data/funds/114 CalSTRS's proxy voting profile]}} from ProxyDemocracy.org
• [https://www.swfinstitute.org/profile/598cdaa50124e9fd2d05ab3b CalSTRS Public Profile] from SWFI

{{California state agencies}}

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Category:State agencies of California

Category:Public pension funds in the United States

Category:Education in California

Category:Government agencies established in 1913

Category:Buildings and structures in Yolo County, California

Category:1913 establishments in California