Sunday, May 17, 2015

Schools Need Pensions, Too

With all the talk about the shortfall in public safety pensions in the news lately, the other big pension shortfall often gets ignored. Calwatchdog looks at funding for the California State Teacher's Retirement System. They're billions in the hole, too. They're looking at "... 70 percent increase in pension contributions from school districts, a 20 percent increase from the state general fund and a 10 percent increase in teacher contributions. ".

As with local measures Q & Z, school funding from Prop 93 will likely end up the same. You can expect a fair amount of the new funding to help pay down pension debt: "...the education establishment expects to use the flexibility and extra dollars provided by the Local Control Funding Formula to pay for the higher pension costs."


At 2:22 PM, Anonymous Anonymous said...

Why should any government employee get a guaranteed pension when they produce nothing but paper work. Those of us who work in private industry and produce things, should have the best pension. Mostly not.


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