Examining the CalSTRS Shareholder Bailout

By Edward Ring
“CalSTRS has a $70-plus-billion unfunded liability – even with assumed investment earnings that Brown deems ‘highly unlikely’ – and says it needs about $5 billion more a year to regain solvency.” –  Dan Walters column, “Brown budget reflects state’s massive debt,” May 25, 2014, Sacramento Bee Those “investment earnings” that Walters quotes Brown as finding...

TAGS: CalSTRS, CalSTRS unfunded liability, normal pension contribution

Public Sector Pension Plans Do Not Pass the "Smell Test"

By Edward Ring
“Pew’s relationship with the Arnold Foundation does not pass the smell test,” said Meredith Williams, Denver-based executive director of the National Council on Teacher Retirement. –  “Pension Funds Press Pew to Cut Arnold Foundation,” Philanthropy Today, March 4, 2014 If you’re looking for an example of how, increasingly, political debate in America is framed as...

TAGS: California State Teachers Retirement System, CalSTRS, CalSTRS unfunded liability, GASB

Are Annual Contributions Into CalSTRS Adequate?

By Edward Ring
Preface: Earlier this year the California Policy Center published a study evaluating the Orange County Employee Retirement System (OCERS) to explore this same question: Are Annual Contributions into OCERS Adequate? That study adopted a unique focus, evaluating contributions into OCERS not based on percent of payroll, but by looking at the actual amount of cash being contributed...

TAGS: California State Teachers Retirement System, CalSTRS, CalSTRS unfunded liability