The latest on California politics and government
June 24, 2014
Gov. Jerry Brown signed legislation Tuesday to begin paying down an estimated shortfall of more than $74 billion in the California State Teachers’ Retirement System, acting on the last of a raft of budget-related bills ahead of the July 1 start of the next fiscal year.
Brown’s signature was strictly a formality. The pension fund measure was approved by lawmakers June 15 in a budget package negotiated with Brown. The Democratic governor signed the state’s main budget bill and most of other legislation related to the $156.3 billion spending plan last Friday.
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