Hey, liberal teachers. You like social programs, right? Of course you do. Well, things are rolling along so swimmingly here in California that Crazy Ole Uncle Jerry thinks we have a monstrous surplus and can spend it on things like Medi-Cal. I'm sure you have no problem with that. But what about all those unfunded liabilities, like the California State Teachers Retirement System? Well, Jerry wants you to pay more into it each month. And he also wants your school district to pay more into each month:
The spending plan also lays out a 30-year road map to pay off the unfunded $73.7 billion liability in the State Teachers Retirement System by asking the state, school districts and teachers all to increase annual contributions.That means there will be less money available for pay increases. So you'll get much smaller raises, and more money will come out of your pocket each month in the form of Obamacare taxes and contributions to STRS.
Thank you, liberal teachers. I so appreciate that double hit to my bottom line.