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.
(AP) - Nevada again ranked poorly in a national child welfare report, coming in dead last when it comes to education.
In Long Beach Tuesday, the California State University Board of Trustees voted to give campus presidents and other top executives two percent pay raises. Some teachers aren't happy about that.
A major change in lighting for one school district means a one-time energy rebate of $400,000.
California schools have been told they can increase teacher pay using money dedicated to increase services for high-need students.
(AP) - A group that got a judge to overturn California's laws on teacher tenure and layoffs is now going after teacher evaluations.