School Districts Concerned About Increased Contributions to CalSTRS Under Budget Plan
California school districts are taking issue with a provision in the budget recently signed by Gov. Jerry Brown (D) that calls for the districts' contributions to CalSTRS to rise from 8.25% to 19.1% of payroll over the next seven years in an effort to pay down the pension fund's $75 billion unfunded liability. Josephine Lucey, president of the California School Boards Association, said the amount of funding that the bill calls for will be "really a challenge for many, many districts."
- "Districts Cite Financial Concerns as Brown Signs CalSTRS Budget Bill" (Adler, "KXJZ News," Capital Public Radio, 6/24).