California 2014-15 Budget Highlights for Education | EdSource Today

By John C. Osborn

Contributors are currently paying $5.2 billion annually into the California State Teachers Retirement System’s defined benefit program. The total will double to $10.4 billion annually by 2020-2021, when a 32-year payment plan to fund the system is fully phased in. By 2046, the current $74 billion deficit will be wiped out. This shows the share of the annual increase that each group of contributors — teachers, school districts and the state — will bear under an agreement worked out between the Legislature and Gov. Jerry Brown. Districts will shoulder about 70 percent of the increase.

 

California 2014-15 Budget Highlights for Education | EdSource Today.

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