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Gov. Newsom promises to chip away at mountain of pension liability

JANUARY 28, 2019 | by John Fensterwald | EDSOURCE (CALIFORNIA)

Districts had been bracing for a big increase in payments to CalSTRS, the pension fund for California teachers and administrators. Instead, under the proposed budget, they’ll pay about half the raise in rates they had anticipated next year and in 2020-21. … “Assistance from the governor in bringing down this cost is certainly welcome. However, it will not generate enough savings to prevent our district from running out of cash this year, or to balance our budget in future years,” the district wrote in a budget update on Wednesday.

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