According to a press release , the proposed regulations by the CalSTRS board include:
- Restrict campaign contributions to board members and the Governor to no more than $1,000 individually or $5,000 in the aggregate for a 12–month period;
- Require board members to recuse themselves when such a campaign contribution is received; and
- Disqualify a party in violation of the regulations from engaging in future or additional business with CalSTRS for a period of two years.
“ As pension fiduciaries and strong advocates of good governance practices, we felt these regulations were an important step that sends a strong message to our business partners and membership that protecting the system ‘ s integrity is paramount, “ said Jack Ehnes, CalSTRS chief executive officer, in the press release.