LEAs face a big tab for teacher pensions under Brown’s plan
(Calif.) The financial contribution school districts will make to help close an unfunded liability of $74 billion in teacher pensions will jump nearly 11 percent under Gov. Jerry Brown’s May budget proposal released Tuesday.
As happy as some school managers are that Brown is taking seriously the problems facing the California State Teacher Retirement System, they also worry about meeting the new obligation using existing resources provided under the Local Control Funding Formula – expected to cover a growing array of student services.
“We appreciate the governor recognizing the need to shore up CalSTRS in the near future, including increased contribution from state employers and teachers,” said Josephine Lucey, president of the California School Boards Association and a school trustee in the Cupertino Union School District, said in a statement.
“However, this increase could impact future increases in overall education funding which cries out for a need to discuss the adequacy of school funding,” she said.
Edgar Zazueta, a legislative advocate for the Los Angeles Unified School District, took to Twitter shortly after the governor released his plan expressing the same concern: “Applaud Governor's efforts 2 take on teacher pensions but very concerned w/ the timing & how it impacts LCFF efforts w/ community #cabudget.”
Brown’s revised 2014-15 budget plan, released Tuesday morning, would add little new funding for LEAs face a big tab for teacher pensions under Brown’s plan :: SI&A Cabinet Report :: The Essential Resource for Superintendents and the Cabinet:
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