The unfunded liability at the California State Teachers’ Retirement System is $73 billion currently and growing at the astonishing rate of $17 million per day. If corrective action is not taken – that is, if the state, school districts or teachers don’t contribute more into the fund – CalSTRS could deplete all its assets by 2044.

The spreading red ink at the teachers’ retirement system “may be the state’s most difficult fiscal challenge,” the Legislative Analyst’s Office warned in a recent report.

via Editorial: State must fix liabilities that loom at CalSTRS.