CALIFORNIA | LOCAL
February 2, 2000 |
With a slow-growth initiative looming, the California Teachers Retirement System is withdrawing its construction plans for Newport Center on the heels of the Irvine Co.'s decision last week to halt its development plans there. In a surprise move Jan. 27, Irvine Co. Executive Vice President Gary H. Hunt withdrew plans for expansion of the center, citing a slow-growth measure going before Newport Beach voters Nov. 7.
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.
January 6, 2000 |
A controversial proposal to bypass insurers and contract directly with doctors to provide health coverage for 500,000 current and retired teachers is set to come before the health benefits committee of the State Teachers Retirement System board in Sacramento today.
December 24, 1999 |
Treasurer Phil Angelides announced Thursday that he is urging that the huge state teachers' pension fund consider divesting itself of all tobacco stocks, joining the Los Angeles teachers union, which issued a similar call last month. Angelides also said Thursday that he will not invest any of the $33 billion in state money he manages in tobacco stocks, continuing a trend. Since 1995, the treasurer's office has not invested in tobacco stocks.
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.
December 14, 1999 |
Two of California's largest and most influential pension funds are considering dumping the managed care plans that provide their members with health insurance and contracting directly with doctors and hospitals instead. If enacted, such moves by the California State Teachers Retirement System and the California Public Employees' Retirement System, which together represent about 1.5 million people, would change the face of health care in California and perhaps across the nation.
August 20, 1999 |
The California State Teachers' Retirement System, the third-biggest government pension fund in the U.S., said it earned 13.35% on its investments in the year ended June 30. Sacramento-based CalSTRS said gains on its investments in U.S. and international stocks helped propel it to a total of $99.9 billion in assets by June 30, $11.8 billion above its total in the year-earlier period. By contrast, the California Public Employees' Retirement System, the biggest U.S.
July 9, 1997 |
The California State Teachers Retirement System has sold all its shares in Maxxam Inc. amid environmentalists' calls for divestiture. The pension fund, the company's 10th-largest institutional shareholder, sold 71,400 shares for about $3.3 million as part of "normal portfolio rebalancing" last month, said James Mosman, chief executive of the state-run fund, which has more than $72 billion in assets. He said the fund sold a total of $160 million in stocks.
May 13, 1997 |
A Maxxam Inc. shareholder proposal to have the company swap its Headwaters land in exchange for government claims from a failed savings and loan was endorsed by a large pension-fund stockholder. The endorsement came from the California State Teachers' Retirement System, which is the Houston-based timber company's 10th-largest institutional shareholder with 71,400 shares. Its recommendation was reported by the Rose Foundation, an Oakland-based environmental group.