Board members selected Sharon Hendricks as Chair and Harry Keiley as Vice Chair
WEST SACRAMENTO, Calif. (May 9, 2019) – The trustees of the California State Teachers’ Retirement System today elected Sharon Hendricks as board chair and Harry Keiley as vice chair for the 2019-20 term.
The Teachers’ Retirement Board nominates and elects its chair and vice chair annually. The newly-elected officers assume their posts immediately. The chair and vice chair provide board leadership for the largest educator-only pension fund in the world.
“I’m looking forward to the challenges and the opportunities we’ll be addressing this coming year, such as the implications of our transition to a low-carbon economy and the development of new investment strategies,” said Teachers’ Retirement Board Chair Hendricks.
Hendricks commented on previous board chair Dana Dillon’s retirement as of January 1, 2020: “I want to thank Dana Dillon for her 16 years of work on the Teachers’ Retirement Board and her many years of leadership. Dana’s steadfast work on the board has been crucial in securing the financial future and sustaining the trust of our more than 949,000 members. She will be missed.”
Hendricks, a communication studies instructor at Los Angeles City College for the past 15 years, was elected in 2011 to the California State Teachers’ Retirement Board, where she most recently served as vice chair. She has advocated for the development of investment beliefs, transparency on investment fees, and managing environmental, social and governance risks like climate change, corporate board diversity and fair labor practices. In February, Hendricks was elected to the PRI Association Board.
“I look forward to working with Sharon and the rest of our board colleagues to strengthen the fund and keep us on track as stalwart stewards of sustainable investment,” said Teachers’ Retirement Board Vice Chair Keiley. “I too will miss Dana’s leadership and passion for making CalSTRS financially strong, to allow it to continue serving our state’s educators for many decades, hence. She set a standard for dedication and integrity that has made the board extremely effective and collegial.”
Keiley is a high school teacher with the Santa Monica-Malibu Unified School District and was elected to the Teachers’ Retirement Board in 2007. He has served as the president of Santa Monica-Malibu Classroom Teachers Association and chair of the California Teachers Association Political Involvement Committee. He is chair of the Investment Committee of the Teachers’ Retirement Board.
The California State Teachers’ Retirement System, with a portfolio valued at $227.8 billion as of March 31, 2019, is the largest educator-only pension fund in the world. CalSTRS serves California’s more than 949,000 public school educators and their families from the state’s 1,700 school districts, county offices of education and community college districts. A hybrid retirement system, CalSTRS administers a combined traditional defined benefit, cash balance and voluntary defined contribution plan. CalSTRS also provides disability and survivor benefits. CalSTRS members retire on average after more than 25 years of service, with a median retirement age of 62.9, and a monthly pension of approximately $4,475, which is not eligible for Social Security participation. For more data, download the CalSTRS Fast Facts 2018 brochure.
See how CalSTRS demonstrates its strong commitment to long-term corporate sustainability principles in its annual Global Reporting Initiative sustainability report: Global Stewardship at Work.