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.
California schools can now apply to receive millions of dollars of computer supplies—part of a decade-old payout from a class-action settlement against Microsoft.
The head of the National Society of Black Engineers, Karl Reid, was in Sacramento Tuesday to take part in a forum at Washington Elementary School to get more low-income children of color on the right pathway to careers in science and engineering.
A new program aims to ensure that every first grader attending an economically disadvantaged school in Sacramento county has books at home.
More than 200 middle and high school students from San Joaquin County got the chance to see what a career in science, technology, engineering, or math might be like.
Sacramento Regional Transit has identified a way to find entry-level mechanics to replace the dozen or so mechanics who retire or leave the agency every year.