Chief Executive Officer Cassandra Lichnock shared some of CalSTRS’ recent organizational accomplishments with the board as part of her CEO report.

For the seventh consecutive year, CalSTRS received the Government Finance Officers Association’s Distinguished Budget Presentation Award for the 2025-26 Annual Budget report.

To receive the award, the budget document must adhere to nationally recognized guidelines for effective budget presentation. It’s evaluated on its effectiveness as a comprehensive operational and policy guide, financial plan and communications device.

This award reflects CalSTRS’ commitment to meeting the highest principles of governmental budgeting and represents a significant achievement in maintaining excellence in governmental budgeting.

Additionally in the CEO report, Lichnock shared that CalSTRS recently issued two financial reports, the Annual Comprehensive Financial Report (ACFR) and the Popular Annual Financial Report (PAFR).

The ACFR gives a detailed review of CalSTRS' financial, investment and actuarial activities and received the Certificate of Achievement for Excellence in Financial Reporting Program from the Government Finance Officers Association.

The PAFR provides a high-level summary of the ACFR and was submitted to the Government Finance Officers Association for their Popular Annual Financial Reporting Award program.