CalSTRS Chief Investment Officer Scott Chan reported that the total Teachers' Retirement Fund surpassed $400 billion at the September meeting of the Teachers’ Retirement Board’s Investment Committee.

As of June 30, 2026, the fund was valued at $415.4 billion after earning 13.9% for fiscal year 2025–26.

Chan praised the work of past and present board members, CalSTRS staff, consultants and investment partners for their work in meeting this extraordinary milestone.

He described how CalSTRS has evolved from a largely fixed income portfolio into a globally diversified, interconnected total fund, repeatedly evolving to meet changing circumstances.

CalSTRS has never remained static, Chan said, and must continue to adapt to remain a top global allocator capable of meeting its fiduciary responsibility to California’s public educators and their beneficiaries.

Chan discussed current strategic priorities, such as the one fund approach and technology transformation.

Chan also introduced two new leaders on the CalSTRS investment team — Heather Sison, senior portfolio manager of Investment Operations and Services, and Krish Das, senior portfolio manager of Investment Data and Analytics.

The two are tasked with building out and strengthening CalSTRS’ technology and operations team.