CalSTRS Board to Start Search for New CEO

June 29, 2001 ( ? The California Teachers? Retirement Board is expected at its July 12 meeting to start the process of replacing the newly resigned head of the state?s educational pension plan.

James D. Mosman, chief executive officer of the California State Teachers’ Retirement System, (CalSTRS) announced his resignation Thursday. Mosman, 52, leaves in December to become executive director of the National Council on Teacher Retirement.

“I have immensely enjoyed my 30-year career in state government, and the 12 years with CalSTRS have been the most rewarding,” said Mosman. “I am particularly proud of the improvement in benefits and services to the active and retired members. However, it is time to move on, and NCTR will give the opportunity to focus on pension issues at the national level.”

Mosman has directed the nation?s third largest pension fund since November 1988. During his tenure, the investment portfolio grew from $24.3 billion to $105 billion and membership increased by approximately 220,000 to the current 661,000 members and benefit recipients.

The National Council on Teacher Retirement, an independent association dedicated to safeguarding the integrity of public retirement systems for teachers. The organization?s membership includes 67 state, territorial, local and university pension systems. Currently located in Austin, Texas, the headquarters office will move to Sacramento by the end of 2001.