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.
A few school police departments in California have acquired military armored vehicles, rifles and grenade launchers. That's spawned a new bill in the state Legislature. The bill faces its first committee vote Wednesday.
California schools can start administering the state’s new standardized tests to students. The new math and English language tests use computers and open-ended critical thinking questions – rather than the old “Scantron” bubble multiple-choice tests.
Thousands of juvenile salmon are now swimming down the Sacramento River. They're twice as big as other salmon hatched at the same time after spending the last month hanging out in a Yolo County rice field.
A shortage of teachers in Washoe County has forced the school district to fill vacant positions with more substitute teachers. That is reducing the pool of available substitutes for short-term assignments.
University of California students are getting at least a temporary reprieve from tuition increases scheduled to take effect in the coming academic year.