Modern School: Teachers’ Pensions Threatened in California

Modern School: Teachers’ Pensions Threatened in California

Teachers’ Pensions Threatened in California

by Michael Dunn

The California teachers’ pension fund, CalSTRS, has been placed on the state’s high-risk listby State Auditor Elaine Howle, according to a recent article, “State Auditor calls CalSTRS a high risk,” by John Fensterwald - Educated Guess.

The move was largely a capitulation to slash and burn bosses and millionaires who want to preserve their historically low tax rates, business subsidies and lavish lifestyles by imposing austerity on the rest of us. CalSTRS is actually reasonably healthy and able to make payouts to retirees for many years. It is NOT facing an impending catastrophe. In fact, it is not projected to