CalSTRS Member Benefits - In the News

CalSTRS CEO Discusses Wal-Mart Lawsuit on CNBC

William Yee — Mon, 07 May 2012 21:03:35 +0000

CalSTRS CEO Jack Ehnes appeared on CNBC to discuss the lawsuit CalSTRS recently brought against Wal-Mart officials.

News Release: CalSTRS Files Suit Against Wal-Mart Officials

May. 8, 2013

Some Teachers' Pension Realities

William Yee — Fri, 04 May 2012 21:10:17 +0000

The Wall Street Journal

As a California teacher and chief negotiator for our teachers union, some clarification is in order regarding your April 23 editorial "California's Pension Tax."

CalSTRS Files Suit Against Wal-Mart Officials

William Yee — Fri, 04 May 2012 20:58:31 +0000

Wal-Mart's payment of bribes and internal cover-up at the highest levels prompt legal action in Delaware Court of Chancery.

WEST SACRAMENTO, CA – The Teachers' Retirement Board, the governing body of CalSTRS, today took legal action on behalf of Wal-Mart against current and former Wal-Mart board members. The derivative action lawsuit alleges bribery and a subsequent cover-up in the corporation's Mexico expansion.

May. 8, 2013

Pension Fix CalSTRS Needs is Long-Term Funding Plan

William Yee — Thu, 03 May 2012 20:19:09 +0000

Bloomberg

CalSTRS Deputy CEO Ed Derman responds to an April 23 commentary, "New California Taxes Pay for Pensions, Not Schools," on Bloomberg:

Pension Fix CalSTRS Needs is Long-Term Funding Plan

The April 23 commentary by David Crane, at the very least makes misleading assumptions and diverts attention from the real issues CalSTRS faces.

Unlike most other pension plans, the CalSTRS board has no authority to increase contributions, but instead must rely upon legislative action by the Legislature and Governor. As a former board member, Crane should understand this. Contrary to his claim that CalSTRS waited too long to seek increases, CalSTRS has been communicating this need to the Legislature and the Governor since 2006. In fact, Crane was sitting on the board when discussions that led to those efforts took place.

Read more at Bloomberg

May. 3, 2013

CalSTRS Responds on "Pension Perception"

William Yee — Tue, 01 May 2012 16:07:10 +0000

Los Angeles Daily News

Re "Pension Perception" (Editorial, April 13):

The editorial inaccurately blames pension spiking and members who continue receiving benefits after felony convictions for the unfunded liability at CalSTRS. The law requires CalSTRS to make such payments. Fortunately, both are rare.

CalSTRS CIO Discusses Euro Zone Crisis and Investments on CNBC

William Yee — Mon, 30 Apr 2012 21:22:25 +0000

Chris Ailman, CalSTRS CIO, talks with CNBC's "Closing Bell" regarding the impact of the euro zone crisis on the global economy and where CalSTRS is investing.

Watch the video at CNBC

Apr. 30, 2013

California Teacher Pension Plan’s Unfunded Gap Widens

Chad Christman — Tue, 10 Apr 2012 23:15:20 +0000

The California State Teachers’ Retirement System, the second-biggest U.S. public pension, said the gap between its assets and projected obligations rose $8.5 billion as investment gains failed to cover previous losses.

Century-old CalSTRS Faces Lengthy Funding Gap

William Yee — Fri, 30 Mar 2012 20:06:05 +0000

Calpensions

After a decade of similar below-target investment earnings, punctuated by huge losses during the stock market crash in 2008, the nation’s two largest public pension funds are looking at different futures.

The California Public Employees Retirement System, putting a new focus on risk, worries about another recession dropping pension funding levels to 40 percent or below, a “warning track” zone that could make it difficult to get back to full funding in the future.

The California State Teachers Retirement System, no longer aiming for full funding, has developed several limited funding scenarios for legislative consideration that would keep the system from running out of money three decades from now.

GAO Report Documents Viability of Public Pension Plans

Chad Christman — Fri, 30 Mar 2012 16:38:37 +0000

A March report by the Government Accountability Office (GAO), the research arm of the U.S. Congress, documented the viability of public pension plans.

CalSTRS Glendale Member Service Center

William Yee — Mon, 26 Mar 2012 18:19:03 +0000

Los Angeles-area members now enjoy greater access to CalSTRS through the Glendale Member Service Center.

Mar. 26, 2013