WEST SACRAMENTO, Calif.--(BUSINESS WIRE)--The California State Teachers’ Retirement System (CalSTRS) is the first pension plan to be named to Pensions & Investments magazine’s “Best Places to Work In Money Management” list, the publication announced this week.
Inclusion on the list places CalSTRS, the only public entity on the list, among just 25 companies nationwide to make the list.
“CalSTRS is the first pension fund to make the grade,” said Pensions & Investments in a news release.
“I think this is a clear reflection of the respectful, collaborative and collegial culture we work hard to create at CalSTRS,” said CalSTRS Chief Investment Officer Christopher J. Ailman. “Culture drives performance in any business, but especially the investment world. After all, the greatest asset we have is not only the $175 billion that we diligently manage on behalf of our members, but also the dedicated investment staff that walk through the doors every day and work with all of the CalSTRS staff to secure the financial future of California’s educators.”
CalSTRS was ranked fifth among employers with 100 to 500 investment employees in the listing, now in its second year, in which the magazine partnered with the San Francisco-based survey firm Buck Consultants.
According to Pensions & Investments, most of the organizations that participated in the survey shared common attributes, such as:
- Using many tools to communicate the corporate culture to employees.
- Offering multiple programs to promote the work-life balance.
- Placing high value on community service.
- Offering special perks.
“At CalSTRS we work under a structure where the opportunity to offer ‘perks’ is limited to the beautiful LEED Platinum headquarters building, the wonderful views afforded from it; a first rate café, along with wellness programs and amenities for those who choose to bicycle into the office,” Ailman added. “Those benefits in addition to a mindset that actively supports and encourages a work-life balance are, I believe, a very attractive combination.”
The California State Teachers’ Retirement System, with a portfolio valued at $176 billion as of October 31, 2013, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits. For 100 years, CalSTRS has served California's public school educators and their families, who today number 862,000 from the state’s 1,600 school districts, county offices of education and community college districts.