Tag "CalSTRS bailout"

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Are voters ready to approve two massive tax hikes in 2020?

Because voters approved Proposition 13 in 1978 — the ballot initiative that capped property tax hikes at 2 percent per year and required a two-thirds vote of the Legislature before taxes could be added or increased — California became known as

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Despite budget crisis, Oakland Unified may give teachers 12% raise

With 95 percent of Oakland Unified teachers already having approved a strike that appears likely to begin Tuesday, the school district could face weeks of turmoil – unless, like Los Angeles Unified leaders did last month, Oakland Unified agrees to give

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Gov. Newsom’s budget shows pension fixes failed

Gov. Gavin Newsom’s proposal to use some of the state’s budget surplus to pay down unfunded liabilities in the state’s two giant government employee pension funds drew praise from an unexpected source – the Howard Jarvis Taxpayers Association, which otherwise had

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CalSTRS at risk of disaster despite 2014 bailout

Four years after the state Legislature passed a bailout of the California State Teachers’ Retirement System that will nearly double annual direct contributions to the giant pension fund, a newly released internal report raises the prospect that the infusion of

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School lead contamination standards seen as weak, but safer rules would have huge cost

After reports of problems with lead contamination of water at schools around California, Gov. Jerry Brown signed a bill in October of 2017 meant to address the problem. The measure by Assemblywoman Lorena Gonzalez Fletcher, D-San Diego, mandates that every school test

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Massive new K-12 report offers downbeat findings in four areas

In 2007, researchers associated with Stanford University released “Getting Down to Facts” – a massive compilation of studies of the California K-12 public school system. The hundreds of pages of voluminous research allowed both the state education establishment and its critics

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Is state Legislature hampering CalPERS, CalSTRS?

The California Public Employees Retirement System and the California State Teachers Retirement System recently announced that they had exceeded their investment goals by at least 1 percentage point in fiscal 2017-18, with CalPERS citing annual gains of 8.6 percent and

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Oakland Unified whipsawed by pension costs, declining enrollment

It’s been a tumultuous era in Oakland. The Police Department has been enmeshed in an ugly scandal surrounding officers’ involvement with an underage sex worker that led to an officer’s suicide, firings and turnover in the chief’s office. City Hall

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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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Brown adds $2 billion to program that worries LAO

Gov. Jerry Brown’s revised 2015-16 state budget boosts from $4 billion to $6.1 billion the funding being given to the Local Control Funding Formula for public schools. That’s the program established by Brown via a 2013 state law to specifically

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