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Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund

 
JUST HERE
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03/21/2013 05:44 PM

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Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund
SACRAMENTO, Calif. (KABC) -- California needs to pay an additional $4.5 billion a year for the next three decades to shore up its teacher retirement fund, according to a report released by the state's nonpartisan budget analyst.


The Legislative Analyst's Office declared that the California State Teachers' Retirement System "may be the state's most difficult fiscal challenge" and suggested that tackling the shortfall is perhaps more important than other state debts.

The bulk of that additional money will likely have to come from taxpayers because investments and teacher contributions aren't enough.

The report was presented to lawmakers Wednesday during a hearing on ways to address the pension fund's unfunded liability.

If action isn't taken, the pension fund is expected to run out of money by 2044.
[link to abclocal.go.com] wtf
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JUST HERE (OP)

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03/21/2013 05:47 PM

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Re: Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund
those are insane numbers , amazing putin
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Anonymous Coward
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03/21/2013 05:50 PM
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Re: Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund
Looking at who the idiots in that state vote in, it appears they aren't getting their moneys worth outa teachers

Apparently, the bulk of californians are incredibly stupid
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03/21/2013 05:58 PM
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Re: Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund
Teachers are Smart !!
Judethz
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03/21/2013 06:10 PM

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Re: Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund
those are insane numbers , amazing putin
 Quoting: JUST HERE


9teen With a population of about 37,000.000 that comes to roughly $37,000 per man. woman and child. And of course we haven't allowed for all the other city, state and county workers. Judges, politicians, etc.
JUST HERE (OP)

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03/23/2013 05:03 PM

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Re: Report: California needs to pay $4.5 billion a year for 3 decades to support its teacher retirement fund
those are insane numbers , amazing putin
 Quoting: JUST HERE


9teen With a population of about 37,000.000 that comes to roughly $37,000 per man. woman and child. And of course we haven't allowed for all the other city, state and county workers. Judges, politicians, etc.
 Quoting: Judethz


agree
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