Review on CalSTRS by Bukola Joy

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CalSTRS review is here.



CalSTRS is known as The California State Teachers' Retirement System (CalSTRS) , this system provides retirement, disability and survivor benefits for California's 965,000 prekindergarten through community college educators and their families.



CalSTRS was established by law in 1913 and is known to be part of the State of California's Government Operations Agency.



It has it's Headquarters in

100 Waterfront Place, West Sacramento, California.It is noted that As of September 2020, CalSTRS is the largest teachers' retirement fund in the United States.



CalSTRS is also currently the eleventh largest public pension fund in the world. As of October 31, last year, CalSTRS managed a portfolio worth $254.7 billion.





The Teachers' Retirement Fund is widely known as a special trust fund which was established by law that holds the assets of the below mentioned programs: Defined Benefit, Defined Benefit Supplement and Cash Balance Benefit.



The assets come from contributions by members who are 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 stocks, bonds, real estate and short-term investments.



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.



Another aspect of this is the Advisory committee. In this, 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: Support of the Sarbanes-Oxley Act of 2002 that brings dramatic new standards to the corporate boardrooms and accounting profession. Another one is 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. The third one is the Litigation to pursue both financial remedies for the system as well as governance reforms

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



An excellent thing about this is that 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.



And more also, 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.