Tag "CalSTRS"

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School districts struggling despite huge funding increase

California’s funding of education has gone from $50.4 billion in the fiscal year that ended in 2012 to $74.5 billion for the current fiscal year – a nearly 50 percent increase that’s far above the less than 9 percent increase in

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Rising pension costs threaten California school funding

  In a shock critics had warned against, Golden State schools discovered that their nation’s largest pension system, CalPERS, was on track to force substantial budgetary cutbacks on core education spending.  “Public schools around California are bracing for a crisis driven by

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Bad news for U.S. is good news for CalPERS, CalSTRS

The California Public Employees’ Retirement System has not had a good 2016. Its investment returns were microscopic, it faced sharp criticism from a prominent financial website for alleged unethical behavior and Gov. Jerry Brown had to intervene to prevent the nation’s largest

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Union appeal focuses attention on pension precedent

SACRAMENTO – A decision by four Marin County public-employee associations to appeal a pension-related case to the California Supreme Court could ultimately determine whether localities have the tools needed to rein in escalating pension debt. At issue is how far

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CalWatchdog Morning Read – July 29

CalSTRS v. Volkswagen Congressional candidate issuing terrorist-hunting permits What you need to know about the vaccine law Earned Income Tax Credit misses estimates Many voters skipping Senate race  Good morning! The legislative summer recess is coming to an end, so

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CA sues Morgan Stanley over public pension funds

  The State of California has sued investment bank Morgan Stanley, filing a complaint in San Francisco Superior Court, seeking redress for what officials said was massive harm to its public-sector workers. “Public employees in California, including peace officers, firefighters,

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LAO raises doubts about teachers’ pension bailout

A new report from the nonpartisan Legislative Analyst’s Office is raising questions about the long-term effectiveness of the Legislature’s 2014 bailout of the California State Teachers’ Retirement System, which will nearly double annual funding to cover CalSTRS’ obligations when it

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LAO: Teacher pension fund too risky and complex

Policy analysts are calling on state lawmakers to simplify the way the teachers’ pension fund gets funded — to improve oversight and to avoid the state being left in a lurch. According to the non-partisan Legislative Analyst’s Office, the “subjective” funding

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New LAUSD chief avoids district’s grim fiscal picture

Michelle King was promoted to superintendent of the massive Los Angeles Unified School District last week and has since spoken about her hopes for educational improvements, her interest in single-sex schools and her doubts about philanthropist Eli Broad’s goal of

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Education debt debate heats up

With the start of a new year, a fresh array of political, economic and legal developments promise to sharpen California’s ongoing debate over the costs and consequences of its current education system. The California State Teachers’ Retirement System, one of

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