California's non-partisan Legislative Analyst's Office is insisting California's legislature make CalSTRS its top budget priority, given its massive unfunded liability and the relatively fast growth of the fund's debts.
The majority of California's $340 billion of long-term debt has not been addressed by that state's budget, according to a paper released this week.
The largest gap in funding is a $73.7 billion liability in the teachers' pension fund. Absent corrective action, CalSTRS will deplete all of its assets some time in the 2040s.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
