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 grand jury report finds that the head of a school board in the Sierra Nevada repeatedly intimidated staff.
Fees, Measure Q school bond funds and a donation from the McKinley Village developer are paying for a $5 million expansion of the Theodore Judah campus in East Sacramento.
(AP) — How do you teach the history of the world in California schools, where nearly two-thirds of students are Latino or Asian, many from newly immigrated families?
Sacramento State has bought a building in downtown Sacramento to use for the planned School of Public Affairs. And, it has 75 parking spaces.
A new report finds that as many as one million students in California have attended schools with water systems that didn’t meet safe drinking water standards.