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Pension Funds

CalSTRS forms committee to replenish pool of executive search firms

CalSTRS is forming an ad hoc committee made up of two board members to help conduct a search to refresh its executive search firm pool, said Dana Dillon, chairwoman of the $225.3 billion pension fund's board.

The board of the California State Teachers' Retirement System, West Sacramento, in closed session Thursday decided the committee would launch an RFP and screen the applicants with the help of CEO Jack Ehnes, Chief Investment Officer Christopher Ailman, staff members and members of the human resources department, Ms. Dillon said. The board is launching the search because the contracts of the executive search firms currently in its pool — Korn Ferry and EFL Associates — expire in October. Both firms will be invited to rebid.

Ms. Dillon said the selection process could take about six months.