Jack Ehnes with the California State Teachers' Retirement System or CalSTRS says if the retirement system is to be fully-funded within 30 years, all of the groups and the State of California must increase contributions by more than $4 billion-per-year.
"Recessions took such a sizeable bite out of the assets of the system or any system like that, you must increase the contributions and usually quickly to change that path."
"Having a secure retirement is of paramount value along with the piece of mind it will bring to our current and future members and retirees," Baker says.
Baker and a representative of the California School Administrators spoke at the first in a series of Assembly hearings at the California State Capitol Wednesday.
Based on the current value of the fund's assets, Governor Jerry Brown says the shortfall is actually $80 billion.
Together, employers, employees, and state contributions make up about 40-percent of the Cal STRS pension fund. Investments make up the rest.
Cal STRS will develop funding scenarios for all contributors to add $4.2 billion to the fund this year with an increase every year after that.
Robert S. Nelsen, Sacramento State's new president, started his first day on the job Wednesday.
Washington Elementary, one of seven schools in the city of Sacramento that closed two years ago because of budget cuts, will reopen next year.
Sports teams using the nickname “Redskins” are coming under increased pressure nationally to abandon the name. A bill at the state Capitol would make California the first state to ban public schools from using “Redskins” as their nickname or mascot.
School's out for summer...prompting school officials in Sacramento to ask people to keep an eye out for any suspicious activity on campuses.
California high schools are now formally recognizing bilingual students by awarding biliteracy medals and seals to graduating seniors in an effort to recognize students' dual language abilities.