Money & Company
Tracking the market and economic trends that shape your finances.
August 16, 2011 | 4:12 pm

A plan by the giant state teachers’ pension fund to ask the Legislature and governor this year to boost their financial support has been sidetracked by California’s continuing budget shortfall.

As the current legislative session winds down, leaders of the $154-billion California State Teachers’ Retirement System have opted to begin a lower-key, multiyear lobbying campaign to convince Gov. Jerry Brown and lawmakers to approve a gradual increase in state, community college and school district contributions for the retirement of 852,000 public school educators.

Without a contributions boost, the pension known as CalSTRS faces a projected $56-billion funding gap and could run out of money in 32 or 33 years, said Chief Executive Ehnes in a meeting Tuesday with the Los Angeles Times editorial board.

To read entire story, click here.