Certification Of Responsible Contractor Status (Page 3 of 4) in pdf

Certification Of Responsible Contractor Status Page 3

INTRODUCTION:

The California State Teachers’ Retirement System has a deep interest in the condition of workers

employed by CalSTRS and its advisors. CalSTRS, through the Responsible Contracting Policy,

supports and encourages fair wages and fair benefits for workers employed by its contractors and

subcontractors, subject to fiduciary principles concerning duties of loyalty and prudence, both of

which further require competitive returns on CalSTRS’ investments. CalSTRS endorses small

business development, market competition and control of operating costs. CalSTRS supports

many of the ideals espoused by labor unions and encourages participation by labor unions and

their signatory contractors in the development and management of CalSTRS’ investments.

CalSTRS believes that an adequately compensated and trained worker delivers a higher-quality

product and service. This policy is intended to complement and in no manner detract from

existing policy regarding service-disabled California veteran-owned business enterprises.

DEFINITIONS:

Responsible Contractor:

A contractor or subcontractor who pays workers a fair wage and a

fair benefit as evidenced by payroll and employee records. Fair benefits are defined as including,

but not limited to, employer-paid family health care coverage, pension benefits, and

apprenticeship programs. What constitutes a fair wage and fair benefit depends on the wages and

benefits paid on comparable investment projects based upon local market factors that include the

nature of the project (for example: residential or commercial, public or private) comparable job

or trade classifications, and the scope and complexity of the services provided.

Certification Of Responsible Contractor Status Page 3