CalSTRS Names New Chief Financial Officer

Julie Underwood

Julie Underwood is the new chief financial officer (CFO) of the $224.9 billion California State Teachers’ Retirement System (CalSTRS).

Underwood will start on July 16, leaving her CFO post at the San Bernardino County Employees’ Retirement Association ($9.9 billion).

Prior to the San Bernardino fund, Underwood held accounting and tax jobs with the Superior Court of California, Country of San Bernardino, and public accounting firms, which includes Ernst & Young.

Underwood replaces Robin Madsen, who retired in March after nine years with the teacher’s pension plan. 

Jack Ehnes, the retirement system’s CEO, praised Underwood’s technical public pension finance and accounting acumen, as well as her energy and work ethic. “These traits fit in perfectly with CalSTRS workplace culture,” he said.

Underwood was the CFO of the San Bernardino pension plan since 2010. The fund has not announced a search or a replacement, as it is still looking for new CEO.