CalSTRS increased staff bonuses 11% to $1.79 million for the 12 months ended June 30 after posting the biggest gain since 1986.
The $146.6 billion California State Teachers’ Retirement System, West Sacramento, earned 23% on investments in the year that ended in June and spread the rewards among 52 employees, according to a board report.
CalSTRS and the $225.7 billion California Public Employees’ Retirement System, Sacramento, saw record returns led by gains in stocks and private equity. CalPERS earned 21%, its best result in 14 years.
Jack Ehnes, CalSTRS CEO, received the largest bonus, at $149,940, while Chief Investment Officer Christopher Ailman got $139,500, according to the report.
CalSTRS spokesman Ricardo Duran said the two weren’t available for comment.
The fund gained $29.85 billion in the fiscal year. “Of that amount, $1 billion was attributable to specific investment staff decisions on particular securities and investment managers during the fiscal year,” the report said.
The bonuses were calculated on a three-year average investment return, meaning that the awards trail overall gains in a boom year.
CalPERS paid $4.4 million in bonuses during the year ended June 30, a 33% increase from a year earlier.