The California State Teachers’ Retirement System (CalSTRS) is hoping pension contributions by school districts, teachers and the state will go up, Pensions & Investments reports. The increase may come as part of California Governor Jerry Brown’s pension reform proposal expected this month. School systems, teachers and the state, currently paying 8.25 percent, 8 percent and 2.017 percent, respectively, may have to contribute more. The contribution hike plan, which aims at purging the system’s $56 billion unfunded liability and prevent it from insolvency by 2045, will be subject to state legislature approval.
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