Jan 11, 2024 - Business

Ailman to retire from CalSTRS, country's second-largest pension system

Chris Ailman during a TV interview.

Photo: Christopher Goodney/Bloomberg via Getty Images.

Chris Ailman on Thursday announced plans to retire as chief investment officer for the California Public Teachers' Retirement System (CalSTRS) after a 24-year run.

Why it matters: America's two largest public pensions, CalPERS and CalSTRS, are now on the hunt for new CIOs.

  • CalPERS CIO Nicole Musicco quit her post last September after just two years on the job.

Details: CalSTRS will immediately launch a search to replace Ailman.

  • He will step down from the CIO post on June 30, but remain a senior adviser through the end of the year.
  • The system manages about $305 billion, roughly three times its size when Ailman joined in 2000.
  • He's been particularly vocal about the importance of climate change and how institutional investors can help in the energy transition.
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