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California State Teachers Retirement System

CALIFORNIA | LOCAL
April 7, 2005 | From a Times Staff Writer
The California Senate on Wednesday rejected Kathleen Smalley, Gov. Arnold Schwarzenegger's nominee for the state teachers' retirement board, to protest the governor's firing of four other nominees. Smalley and the others had been sitting on the board of the California State Teachers Retirement System while awaiting Senate confirmation. But in February, Schwarzenegger fired four of them after they voted to oppose his plan to replace public pensions with 401(k)-style accounts.
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BUSINESS
February 12, 1997 | TOM PETRUNO
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.
BUSINESS
January 7, 2000 | SHARON BERNSTEIN, TIMES STAFF WRITER
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.
BUSINESS
April 17, 2003 | Kathy M. Kristof, Times Staff Writer
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.
BUSINESS
February 26, 2002 | Diane Wedner
The California State Teachers' Retirement System filed a motion Monday to be named lead plaintiff in nearly 20 consolidated lawsuits against Homestore.com Inc. and several former executives. The move is another example of pension funds seeking to spearhead efforts to recover damages from companies alleged to have used phony accounting to attract investors. Major pension funds also are aggressively seeking damages from Enron Corp.
BUSINESS
December 11, 2002 | Lisa Girion, Times Staff Writer
The California State Teachers' Retirement System filed suit Tuesday against Qwest Communications International Inc., blaming the pension fund's $150-million investment loss on the telecom- munications company's alleged improper accounting practices. Those practices are under investigation by the Securities and Exchange Commission and the Justice Department.
BUSINESS
March 4, 2004 | Marc Lifsher, Times Staff Writer
The $115-billion California State Teachers' Retirement System on Wednesday adopted a new set of governance and disclosure standards for mutual funds that receive investments from the nation's third-largest pension fund. The standards, proposed by state Treasurer Phil Angelides in the wake of a series of mutual fund scandals around the nation, require fuller disclosure of expenses and fees charged by fund managers.
BUSINESS
February 12, 2002 | BRAD BERTON, SPECIAL TO THE TIMES
The California State Teachers' Retirement System has purchased the Plaza at the Arboretum apartment and retail complex in eastern Santa Monica's commercial hub in one of the largest local residential deals in recent years. The pension fund for the state's public school educators made an initial payment of nearly $76 million for the 351-unit complex at 2200 Colorado Ave., according to a CalSTRS Investment Committee report.
BUSINESS
December 5, 2000 | BRAD BERTON, SPECIAL TO THE TIMES
The California State Teachers' Retirement System has purchased nearly 400,000 square feet of office properties along Town Center Drive in Valencia for $72.3 million in cash. CalSTRS, through an investment program managed by Los Angeles-based Thomas Properties Group, purchased four buildings, including Princess Cruises' headquarters, from Newhall Land & Farming Co., the Santa Clarita Valley's biggest land developer. Newhall Land reported that the sale price is $7.
BUSINESS
July 26, 2002 | DEBORA VRANA, TIMES STAFF WRITER
State Treasurer Phil Angelides called on California's two largest pension funds Thursday to stop investing in companies that move their headquarters offshore to avoid paying taxes, and said the state would blacklist those firms. In recent years, a growing number of U.S. companies, such as conglomerate Tyco International Ltd., manufacturer Ingersoll-Rand Co. and Xoma Corp., a biotech firm, have reincorporated in Bermuda or the Cayman Islands.
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