CalSTRS Appoints First Chief Operating Officer

WEST SACRAMENTO, Calif.--(BUSINESS WIRE)--The California State Teachers’ Retirement System (CalSTRS) announced today the appointment of Cassandra Lichnock as its first Chief Operating Officer (COO), effective March 1, 2013.

“CalSTRS is working on several high-priority projects, which affect multiple business areas simultaneously”

Lichnock arrived at CalSTRS in 2008 from the California State Lottery to serve as Human Resources Executive Officer. As COO, she oversees five service branches, consisting of Benefits and Services, Human Resources, Plan Design and Communication, Technology Services and BusinessRenew. BusinessRenew is the CalSTRS long-term plan to integrate organization-wide systems to improve business processes and mitigate risk.

Chief Executive Officer Jack Ehnes said, “Cassandra has an amazing ability to navigate many complex challenges, which is vitally important as we move the organization forward. She’s championed the development of new oversight processes to enable CalSTRS to identify and manage risks throughout the organization. She’s also led the development, implementation and monitoring of our long-term strategic plan.”

“CalSTRS is working on several high-priority projects, which affect multiple business areas simultaneously,” Lichnock said. “As COO, I’m thrilled to lead the coordination of several branches to ensure seamless integration into our new, more efficient processes.”

Lichnock has 22 years of experience in California state government and has held a variety of key positions throughout her career with the state, including serving as the director of human resources for the California State Lottery. She began her state service in 1991, joining the State Compensation Insurance Fund where she served in various capacities. Read Cassandra’s full profile.

The California State Teachers’ Retirement System, with a portfolio valued at $161.4 billion as of January 31, 2013, is the largest educator-only pension fund in the world. CalSTRS administers a hybrid retirement system, consisting of traditional defined benefit, cash balance and voluntary defined contribution plans. CalSTRS also provides disability and survivor benefits. For 100 years, CalSTRS has served California's public school educators and their families, who today number 862,000 from the state’s 1,600 school districts, county offices of education and community college districts.