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) — 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.
State Schools Chief Tom Torlakson is scheduled to visit John F. Kennedy High School in Sacramento today to see one of Kennedy's after school programs - a robotics lab. Torlakson is urging state lawmakers to approve more funding for similar programs.
Ralph Hexter addressed the media for the first time Thursday as Interim Chancellor at UC Davis.