Certain Fullerton school board members have taken issue with our characterization of the CalSTRS teachers’ pension system as being underfunded and unsustainable. Our resident pension expert suggests that that the board may be reading a few too many rose-colored newsletters emanating from the retirement system itself. Perhaps some illumination is necessary.
This is as clear as it gets.
Before the market crash, CalSTRS was facing a $22.5 billion dollar shortfall. Since then, the market crash has killed about 30% of its assets. At this point, nobody knows how short the fund will be until it is recalculated in the spring. But the results are guaranteed to be frightening.
Read the rest of “Teachers’ Pension Fund Lying Low, Set to Explode”
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