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California Gov. Jerry Brown's Teacher Pension Contribution Proposal Falls Short
Daniel Borenstein, in Contra Costa Times Link to more items from this source
[Opinion]
May 19, 2014

"For more than a decade, lawmakers have ignored the increasing shortfall. Consequently, the California State Teachers' Retirement System [CalSTRS] is now $74 billion underfunded, holding only 67 percent of assets it should have. Brown now wants to start paying down the debt this year. But he would stretch the installments until 2046, meaning it would take 32 years to restore full funding and that the debt would continue growing for the first 12 years. That's not fiscally responsible; it's merely less irresponsible than what lawmakers do now."

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