What the FACTS Reveal about Teacher Retirement Programs—Part 5 of 6

Crazy Normal - the Classroom Exposé

View as Single Page

Critics of public pension plans like CalSTRS will claim that the cost of these plans are bankrupting states, but that is false—in fact it is a damn lie. For instance, the current annual budget of California is about $156 billion. The state’s annual contribution to the CalSTRS pension plan is usually about $1.4 billion or 0.89% of the total state budget. With the 30-year plan from AB 1469 to stabilize the funding gap to uphold the state’s promise of a secure retirement to teachers, the state will be paying $1.9 billion annually to CalSTRS (instead of $1.4 billion) or 1.12% of the total annual state budget of California. – ebudget.ca.gov

It’s a fact that misery loves company and when the accountants, carpenters, clerks, plumbers, reporters, salesmen, and secretaries, and many other professions in the private sector, read the Yellow/Hate Journalism in Don Thompson’s AP piece, Public retirement…

View original post 421 more words

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s