Thursday, March 06, 2008

California Teachers Retirement

I wish I understood this enough to get outraged by it:

CalSTRS officials agree to reduction in state contribution

Trustees of the California State Teachers' Retirement System agreed Thursday to allow the state to reduce its contribution to a supplemental pension plan as long as payments from the fund to teachers never dip below a fixed rate.

The plan would give Gov. Arnold Schwarzenegger something he wants -- a substantial budget savings -- but it also exposes the state to possible fluctuations in inflation that could prove costly in the future.

For more posts on California State Teachers Retirement, type STRS into the search box at the top left corner of this page.

No comments: