OPINION: Cal School Budgets: Pension Costs Rise from 3.8% to 9%
The California State Teachers Retirement System (CalSTRS) faces a shortfall in the funds needed to cover its obligations and will require greater contributions from school districts in the future due to recently passed legislation, reports Breitbart.com. The amount of money required will increase from 3.8% of district budgets to 9%. Many schools in inner city communities will be exempt from the new requirements while middle class districts will be impacted more substantially.
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