California Gov. Jerry Brown announced he has appointed Paul Rosenstiel to the California State Teachers' Retirement System Board.
Rosenstiel, currently a principal at De La Rosa & Co., was deputy state treasurer from 2007 to 2009. He has been with De La Rosa since 2009 and from 1995 to 2005.
He also worked as policy director for Steve Westly's campaign for governor from 2005 to 2006.
Rosenstiel currently serves as chairman of the California Budget Project and is a board member at the Keston Institute for Public Finance and Infrastructure Policy.
Brown also appointed to the board Michael Lawson, a partner at Skadden Arps Slate Meagher and Flom LLP.
"The governor committed to appointing individuals with greater independence and stronger financial backgrounds to public retirement boards, as part of his pension reform plan to end abuses and cut costs in California's pension systems," Brown's office said in a statement Wednesday.
"Today's appointments add significant public- and private-sector financial expertise to the CalSTRS board and will help steward one of our state's largest and most important retirement systems through uncertain economic times," the statement said.
CalSTRS, with an investment portfolio of $141.3 billion, is one of the largest retirement systems in the country.
