April 6, 2000 |
In preparation for possible unloading of its tobacco holdings, the investment committee of the $110-billion state teachers' pension fund directed its chief investment officer Wednesday to draft a divestment policy. The move comes amid growing pressure by teachers' groups and state Treasurer Phil Angelides on the California State Teachers Retirement System to divest $319 million in tobacco stocks.
December 5, 2003 |
The California State Teachers' Retirement System, the nation's third-largest pension fund, said Thursday that it had ended its relationship with Putnam Investments, the latest in a series of investors to fire the company. CalSTRS has been pulling its $312 million out of the Boston-based mutual fund company for the last few weeks, CalSTRS spokeswoman Sherry Reser said.
March 8, 1997 |
The California State Teachers Retirement System said Friday that it has selected an Irvine firm to manage a $2.5-billion portfolio that is one of the system's riskier investments. CalSTRS said it will negotiate a final contract with Pathway Capital Management L.P. for services over the next three years, with options for two one-year extensions.
December 21, 1999 |
A key task force advising the California State Teachers Retirement System on Monday recommended that the pension fund bypass established managed-care plans in favor of direct contracts with doctors and hospitals when providing health care for its 500,000 active and retired members.
April 7, 2006 |
The California State Teachers' Retirement System will sell its holdings in five foreign energy companies that do business in Sudan to protest human rights abuses in the African nation's Darfur region. On a 9-0 vote Thursday, the board of CalSTRS, the nation's second-largest public pension fund, directed its staff to plan for the divestment of the approximately $14 million worth of stock the fund currently holds in the companies. The holdings could be sold as early as June.
February 1, 1990 |
Northrop Corp. said Wednesday that it has agreed to sell two Century City office buildings, including its corporate headquarters, and a 53-acre defense plant complex in Anaheim for more than $250 million. The aerospace giant said it would use the sale's proceeds to pay part of its $1.2-billion debt. Like other defense contractors, Northrop has felt the pinch from cutbacks in federal defense spending.
February 6, 2003 |
The California State Teachers' Retirement System, the fourth-largest U.S. public pension fund, said Wednesday that it could see the gap between its assets and its obligations to pensioners multiply by 21 times to almost $47 billion in the next decade. CalSTRS' unfunded liability, which occurs when a pension fund's total value falls below projected long-term obligations to pay benefits to retirees, could grow from $2.2 billion in 2002 to $46.
February 12, 1997 |
The investment officers of California's two big public employee pension funds are taking two very different approaches toward investing their huge asset pools--and the results may cost one of those individuals his job. The $68-billion California State Teachers' Retirement System fund, under Chief Investment Officer Tom Flanigan, has become increasingly wary of the U.S. stock market's heights, and has reduced its stake in U.S. shares to 32.9% of total assets from 41.3% three years ago.
January 7, 2000 |
The state's influential teachers pension fund voted Thursday to develop a model under which public school teachers could receive health benefits directly from doctors, rather than buying insurance through a traditional health plan.
April 17, 2003 |
California Treasurer Phil Angelides is urging the state's two biggest public pension systems to pay more attention to executive pay. Angelides on Wednesday sent letters to the investment committees of the California Public Employees' Retirement System and the California State Teachers' Retirement System, asking them to use their muscle as major shareholders to vote against any company compensation plan that would give managers dramatically more stock than lower-level employees.