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.
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.
May 10, 1997 |
The veteran chief investment officer of the $68-billion California State Teachers' Retirement System fund was replaced on Friday, a victim at least in part of his conservative investment philosophy in a roaring bull market. Thomas Flanigan, 56, who has overseen assets of the teachers' fund for 11 years, lost the position in competition with five other candidates, the CalSTRS board said. His successor will be Patrick Mitchell, 48, the fund's director of bond and stock investments.
May 9, 1997 |
The $68.5-billion California State Teachers Retirement System plans to boost its stake in global stocks and may start investing in foreign bonds. The third-largest U.S. public pension fund raised its investment target to 38% of assets in U.S. stocks and 25% in foreign shares. It currently has 34% in U.S. shares and 20% overseas. Many large public pension funds are increasing their stakes in equities in a move to boost returns by taking advantage of strong global equity markets.