Brown’s CalSTRS problem
Taxpayers, new teachers to bear the brunt
By
Gov. Jerry Brown last week made a down payment on pension reform in the form of seven specific recommendations to slow the growth in pensions for public employees, including teachers. It’s the obvious steps to curb abuse, like banning retroactive pension increases, the purchase of additional pension credits, and the spiking of income the final year to boost pension payouts.
But the release of CalSTRS’ annual report and the Legislative Analyst Office’s readable summary of it last week shows why Brown is taking his time on dealing with the bigger issue: CalSTRS’ large unfunded liability. The remedy for straightening out the retirement
